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Salt Lake Potash Ltd - Issue of Shares and Directors' Subscription

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

Shares subscribed for

Resultant holding

Percentage 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

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

2

Reason for the notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

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

Identification code

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

2

Reason for the notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

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

Identification code

 


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 [email protected] or visit www.rns.com.
 
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Quick facts: Salt Lake Potash Ltd

Price: 31.6

Market: AIM
Market Cap: £184.96 m
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