TIDMSO4
RNS Number : 2210Q
Salt Lake Potash Limited
17 June 2020
17 June 2020 AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
SHAREHOLDER MEETING RESULTS / COMPLETION OF PLACEMENT
-------------------------------------------------------
Salt Lake Potash Limited ("the Company") is pleased to announce
that it has now completed the placement of 58.8 million new
ordinary shares of the Company, to raise gross proceeds of A$20.0
million ("Placement"), first announced on 17 April 2020.
The second tranche of the Placement has been completed following
shareholder approval at a General Meeting held today. The issue
comprised 2,755,883 ordinary shares of no par value ("Ordinary
Shares") at a price of A$0.34 per share, comprising 505,883 shares
subscribed for by the CEO, Mr Tony Swiericzuk, and 2,250,000 shares
by the Company's Chairman, Mr Ian Middlemas.
The Company has also issued 1 Ordinary Share to each holder (a
total of 4 shares) of the Class C Performance Shares that expired
12 June 2020, for nil consideration in accordance with the terms
and conditions of the Performance Shares.
Application has been made to the AIM Market of the London Stock
Exchange ("AIM") for the admission of the 2,755,887 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 22 June 2020
("Admission").
Corporate Presentation
A new corporate presentation is also now available to view on
the Company's website: www.so4.com.au
Shareholder Meeting
The General Meeting of the Company referred to above was held
today, 17 June 2020, at 11.00am (WST).
The resolutions voted on were in accordance with the Notice of
General Meeting as announced on 15 May 2020 and which is available
on the Company's website, www.so4.com.au. All resolutions were
voted on and carried by way of a poll.
In accordance with Section 251AA of the Corporations Act 2001,
the details of the poll and the proxies received in respect of each
resolution are set out in the following summary.
Resolution Result Voting Method Number of Proxy Votes Received Number and Percentage of Votes Cast
by Poll
For Against Abstain Proxy's For Against Abstain
Discretion
------------ -------- ----------- ----------- ----------------- --------------------- -----------------------
1. Authorise Issue of Placement Shares to Mr Tony Swiericzuk Passed Poll 101,265,656 240,942 255,295 78,049 108,844,009 240,942 255,295
99.78% 0.22%
------------------------------------------------------------------------------------------- ------------ -------- ----------- ----------- ----------------- --------------------- -----------------------
2. Authorise Issue of Placement Shares to Mr Ian Middlemas Passed Poll 89,219,539 287,059 255,295 78,049 100,308,155 287,059 255,295
99.71% 0.29%
------------------------------------------------------------------------------------------- ------------ -------- ----------- ----------- ----------------- --------------------- -----------------------
3. Ratification of Prior Placement of Shares Passed Poll 20,311,565 391,978 35,395,154 78,049 27,674,672 391,978 35,645,154
98.60% 1.40%
------------------------------------------------------------------------------------------- ------------ -------- ----------- ----------- ----------------- --------------------- -----------------------
4. Ratification of Prior Placement of Shares Passed Poll 20,296,565 391,978 35,410,154 78,049 27,659,672 391,978 35,660,154
98.60% 1.40%
------------------------------------------------------------------------------------------- ------------ -------- ----------- ----------- ----------------- --------------------- -----------------------
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission, Salt
Lake will have 353,285,840 Ordinary Shares in issue with voting
rights attached. Salt Lake holds no shares in treasury. This figure
of 353,285,840 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.
Directors' interests
Following the issue of these shares, the directors will have the
following interests in shares:
Number of Ordinary Percentage of issued
Shares share capital
Ian Middlemas 14,250,000 4.03%
Tony Swiericzuk 4,016,146 1.14%
Mr Swiericzuk also holds an indirect interest in 5 million
incentive options and 5,788,324 performance rights.
The Notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation provide additional
information.
For further information please visit www.so4.com.au or contact:
Tony Swierizcuk / Richard Salt Lake Potash Limited Tel: +61 8 6559 5800
Knights
Colin Aaronson / Richard Grant Thornton UK LLP Tel: +44 (0) 20 7383 5100
Tonthat / Seamus Fricker (Nominated Adviser)
Derrick Lee / Peter Lynch Cenkos Securities plc Tel: +44 (0) 131 220 6939
(Joint Broker)
Rupert Fane / Ernest Bell Hannam & Partners (Joint Broker) Tel: +44 (0) 20 7907 8500
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$0.34 505,883
----------------------------------------------------------------------------- -------------------
d) Aggregated information
Aggregate volume: 505,883
* Aggregated volume Aggregate price: 34 Australian cents
Aggregate total: A$172,000
* Price
e) Date of the transaction 17 June 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$0.34 2,250,000
----------------------------------------------------------------------------- -------------------
d) Aggregated information
Aggregate volume: 2,250,000
* Aggregated volume Aggregate price: 34 Australian cents
Aggregate total: A$765,000
* Price
e) Date of the transaction 17 June 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
ROMSFSSAWESSESM
(END) Dow Jones Newswires
June 17, 2020 04:03 ET (08:03 GMT)
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