Salt Lake Potash Limited Completion of Placement and PDMR notification (1903L)
28 Aprile 2020 - 2:32PM
UK Regulatory
TIDMSO4
RNS Number : 1903L
Salt Lake Potash Limited
28 April 2020
28 APRIL 2020 AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
-------------------------
COMPLETION OF AUSTRALIAN INSTITUTIONAL PLACEMENT
Salt Lake Potash Limited ( SO4 or Company ) is pleased to advise
that it has completed the previously announced placement to a
number of existing and new institutional shareholders and investors
for the ongoing development of the Lake Way Project ( Project
).
The Placement of approximately 58.8 million ordinary shares of
no par value ("Ordinary Shares") at A$0.34 each to raise A$20.0
million before costs (Placement), further strengthens SO4's share
register with strong demand from existing institutional
shareholders.
Placement funds will enable SO4 to continue to deliver the Lake
Way Project to schedule, with commissioning expected to commence in
December 2020 and first production in Q1 2021.
The Institutional Placement, comprising 56,067,647 shares
completed today with the issue of 1,828,899 Ordinary Shares as
announced on 23 April 2020. An additional 2,755,883 shares that
Directors intend to subscribe for will be issued subject to
shareholder approval. This includes 2,250,000 shares by Chairman,
Mr Ian Middlemas and 505,883 shares by Managing Director and CEO,
Mr Tony Swiericzuk. A notice of meeting will be sent to
shareholders in due course.
Settlement and dealings
Application has been made to the AIM Market of the London Stock
Exchange ("AIM") for 1,828,899 Ordinary Shares, which rank pari
passu with the Company's existing issued Ordinary Shares, to be
admitted to trading. Dealings on AIM are expected to commence at
8:00am on or around 29 April 2020 (Admission).
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules (DTRs), following the admission of
1,828,899 shares, SO4 will have 350,529,953 Ordinary Shares on
issue with voting rights attached. SO4 holds no shares in treasury.
This figure of 350,529,953 may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in the Company, under the ASX Listing
Rules or the DTRs.
For further information please visit www.so4.com.au or
contact:
Tony Swiericzuk / Richard Knights Salt Lake Potash Limited Tel: +61 8 6559 5800
Colin Aaronson / Richard Tonthat / Seamus Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Fricker
Derrick Lee / Peter Lynch Cenkos Securities plc (Joint Broker) Tel: +44 (0) 131 220 6939
Rupert Fane / Ernest Bell Hannam & Partners (Joint Broker) Tel: +44 (0) 20 7907 8500
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Forward Looking Statements
This announcement may include forward-looking statements. These
forward-looking statements are based on Salt Lake Potash Limited's
expectations and beliefs concerning future events. Forward looking
statements are necessarily subject to risks, uncertainties and
other factors, many of which are outside the control of Salt Lake
Potash Limited, which could cause actual results to differ
materially from such statements. Salt Lake Potash Limited makes no
undertaking to subsequently update or revise the forward-looking
statements made in this announcement, to reflect the circumstances
or events after the date of that announcement.
The Notification below, made in accordance with the requirements
of the EU Market Abuse Regulation provides additional
information.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Shaun Day
------------------------------------- --------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status CFO
------------------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
a) Name Salt Lake Potash Limited
------------------------------------- --------------------------------------------
b) LEI 213800WAVVOPS85N2205
------------------------------------- --------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where
transactions have been conducted
-----------------------------------------------------------------------------------
a) Description of the Ordinary shares of no par value
financial instrument,
type of instrument
Identification code AU000000SO44
b) Nature of the transaction Subscription for cash in a placement
by the Company
c) Price(s) and volume(s)
-------------------- -------------------
Price(s) Volume(s)
-------------------- -------------------
A$0.34 102,941
--------------------------------------------------------------- -------------------
d) Aggregated information
- Aggregated volume Aggregate volume: 102,941
Aggregate price: 34 Australian cents
Aggregate total: A$35,000
- Price
e) Date of the transaction 23 April 2020
------------------------------------- --------------------------------------------
f) Place of the transaction Off market transaction
------------------------------------- --------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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April 28, 2020 08:32 ET (12:32 GMT)
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