Salt Lake Potash Limited Completion of Placement and PDMR notification

Data : 28/04/2020 @ 14:32
Fonte : UK Regulatory (RNS & others)
Titolo : Salt Lake Potash Limited (SO4)
Quotazione : 33.5  0.0 (0.00%) @ 08:41
Quotazione Salt Lake Potash Grafico

Salt Lake Potash Limited Completion of Placement and PDMR notification

Grafico Azioni Salt Lake Potash (LSE:SO4)

Da Apr 2020 a Lug 2020

Clicca qui per i Grafici di Salt Lake Potash


RNS Number : 1903L

Salt Lake Potash Limited

28 April 2020

 28 APRIL 2020   AIM/ASX Code: SO4 


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 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 
 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 
      -------------------------------------  -------------------------------------------- 
 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 or visit



(END) Dow Jones Newswires

April 28, 2020 08:32 ET (12:32 GMT)

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