TIDMSO4

RNS Number : 2976W

Salt Lake Potash Limited

17 August 2020

 
 17 August 2020   AIM/ASX Code: SO4 
 
 
 SALT LAKE POTASH LIMITED 
------------------------- 
 

Not for release to US wire services or distribution in the United States

SHARES ISSUED UNDER INSTITUTIONAL OFFER

DIRECTORS' SUBSCRIPTION

Salt Lake Potash Limited (SO4 or the Company) advises that following its announcements of 11 August 2020 and 14 August 2020, it has issued the following today:

-- 142,083,323 fully paid ordinary shares (Shares) at an issue price of A$0.50 per Share to sophisticated and professional investors under the intstitutional entitlement offer and placement announced by the Company on 5 August 2020; and

-- 11,111,113 Shares at a conversion price of A$0.45 per Share on conversion of the convertible notes issued to institutional investors as announced by the Company on 2 July 2020.

A notice under section 708A(5)(e) in respect of the shares issued under the placement and on conversion of the convertible notes has been lodged on ASX and the Shares are expected to be admitted to trading on AIM later this morning.

Directors' subscription

As announced on 11 August 2020, the following directors subscribed for shares in the Institutional Enttlement Offer pursuant to their entitlement and, as a result, have the following interests in the voting rights of the Company:

 
 Name                Existing    Shares subscribed   Resultant    Percentage 
                      Shares            for            holding     of voting 
                                                                    rights 
 Ian Middlemas      14,250,000           2,750,000   17,000,000        3.36% 
                   -----------  ------------------  -----------  ----------- 
 Tony Swiericzuk     4,016,146             400,000    4,416,146        0.87% 
                   -----------  ------------------  -----------  ----------- 
 

The Notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide additional information.

For further information please visit https://www.so4.com.au/ or contact:

 
 Tony Swiericzuk / Richard Knights   Salt Lake Potash Limited                    Tel: +61 8 6559 5800 
 Colin Aaronson / Seamus Fricker     Grant Thornton UK LLP (Nominated Adviser)   Tel: +44 (0) 20 7383 5100 
 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 
 

This announcement has been authorised for release by the Company Secretary, Mr Clint McGhie.

Not for release to US wire services or distribution in the United States.

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.

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.

Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                       Tony Swiericzuk 
      -----------------------------------------  -------------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------------- 
 a)    Position/status                            Chief Executive Officer 
      -----------------------------------------  -------------------------------------------- 
 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$0.50                                                               400,000 
   -------------------------------------------------------------------  ------------------- 
 
 d)    Aggregated information 
  - Aggregated volume                        Aggregate volume: 400,000 
                                              Aggregate price: 50 Australian cents 
                                              Aggregate total: A$200,000 
  - Price 
 e)    Date of the transaction                    17 August 2020 
      -----------------------------------------  -------------------------------------------- 
 f)    Place of the transaction                   Off market transaction 
      -----------------------------------------  -------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                       Ian Middlemas 
      -----------------------------------------  -------------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------------- 
 a)    Position/status                            Chairman 
      -----------------------------------------  -------------------------------------------- 
 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$0.50                                                               2,750,000 
   -------------------------------------------------------------------  ------------------- 
 d)    Aggregated information 
  - Aggregated volume                        Aggregate volume: 2,750,000 
                                              Aggregate price: 50 Australian cents 
                                              Aggregate total: A$1,375,000 
  - Price 
 e)    Date of the transaction                    17 August 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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August 17, 2020 02:00 ET (06:00 GMT)

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