TIDMSO4

RNS Number : 3168C

Salt Lake Potash Limited

07 February 2020

 
 7 February 2020   AIM/ASX Code: SO4 
 
 
               SALT LAKE POTASH LIMITED 
  COMPLETION OF PLACEMENT AND DIRECTORS' SUBSCRIPTION 
----------------------------------------------------- 
 

Salt Lake Potash Limited ("the Company") is pleased to announce that it has now completed the placement of 33.6 million new ordinary shares of the Company, to raise gross proceeds of A$23.5 million ("Placement"), first announced on 6 December 2020.

The second tranche of the Placement has been completed following shareholder approval at a General Meeting held on 29 January 2020. The issue comprised 678,571 ordinary shares of no par value at a price of A$0.70 per share, including 428,571 shares subscribed for by the CEO, Mr Tony Swiericzuk, and 250,000 shares by the Company's Chairman, Mr Ian Middlemas.

The Company has also issued 1 share to each holder (a total of 4 shares) of the 7,500,000 Class B Performance Shares that expired 31 December 2019, 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 678,575 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 12 February 2020 ("Admission").

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission, Salt Lake will have 290,289,806 Ordinary Shares in issue with voting rights attached. Salt Lake holds no shares in treasury. This figure of 290,289,806 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 shares   Percentage of issued 
                                        share capital 
 Ian Middlemas      12,000,000         4.13% 
 Tony Swiericzuk    1,647,210          0.57% 
 

Mr Swiericzuk also holds an indirect interest in 5 million incentive options and 7,288,324 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$0.70                                                                         678,571 
   -----------------------------------------------------------------------------  ------------------- 
 
 d)    Aggregated information 
 
                                                       Aggregate volume: 428,571 
    *    Aggregated volume                              Aggregate price: 70 Australian cents 
                                                        Aggregate total: A$300,000 
 
 
    *    Price 
 
 
 e)    Date of the transaction                              7 February 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$0.70                                                                         250,000 
   -----------------------------------------------------------------------------  ------------------- 
 
 d)    Aggregated information 
 
                                                       Aggregate volume: 250,000 
    *    Aggregated volume                              Aggregate price: 70 Australian cents 
                                                        Aggregate total: A$175,000 
 
 
    *    Price 
 
 
 e)    Date of the transaction                              7 February 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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February 07, 2020 02:38 ET (07:38 GMT)

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