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Salt Lake Potash Ltd - Director and Other Shareholdings

RNS Number : 4517A
Salt Lake Potash Limited
29 September 2020
 

29 September 2020

 

AIM/ASX Code: SO4

 

 

SALT LAKE POTASH LIMITED

 

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

ISSUE OF SECURITES

Salt Lake Potash Limited (SO4 or the Company) advises that following its announcement on 25 September 2020, it has today issued 22,592,223 fully paid ordinary shares (Shares) as follows:

§ 22,222,223 new Shares at a conversion price of A$0.45 per Share on conversion of the convertible notes issued to Equatorial Resources Limited (as announced by the Company on 2 July 2020); and

§ 370,000 to a nominee of Mr Matthew Bungey, a director of the Company, at a price of A$0.50 per new Share (as announced by the Company on 14 August 2020).

The new shares have been admitted to trading on AIM today.

Following Shareholder approval on 23 September 2020, the Company has also issued 15,000,000 unlisted options with an exercise price of A$0.564 each and expiring 28 September 2024.

Directors' interest

Following the issue of Shares, Mr Bungey has an interest in 1,864,075 Shares, representing 0.32% of the total voting rights on issue.

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

Holdings in Company

The Company was notified on 29 September 2020, via the filing of a Form 603 - Notice of Initial Substantial Holder with the ASX, that Equatorial Resources Limited has a relevant interest in 34,222,223 fully paid ordinary shares (representing 5.86% per cent of the issued ordinary share capital of the Company).

 

 

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.

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 save where required by law or regulation, 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

Matthew Bungey

2

Reason for the notification

a)

Position/status

Non-Executive Director

b)

Initial notification /Amendment

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

213800ZYZHFUDQ784B24

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 financial instrument, type of instrument

Ordinary shares of  no par value

Identification code

AU000000SO44

b)

Nature of the transaction

Issue of shares in lieu of accrued consulting fees

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

 

 

A$0.50

370,000

 

 

 

 

 

 

d)

 

Aggregated information

 

- Aggregated volume

Aggregate volume: 370,000

Aggregate price: 50 Australian cents

Aggregate total: A$185,000

- Price

 

e)

Date of the transaction

29 September 2020

f)

Place of the transaction

Off market transaction

 

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Quick facts: Salt Lake Potash Ltd

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Market: AIM
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