11th Feb 2021 07:06
11 February 2021 | AIM/ASX Code: SO4
|
SALT LAKE POTASH LIMITED COMPLETION OF PLACEMENT |
Salt Lake Potash Limited (SO4 or the Company) is pleased to announce that it has now completed the placement of 130.0 million new ordinary shares of the Company, to raise gross proceeds of A$52.0 million (Placement), first announced on 11 December 2020.
The second tranche of the Placement to Directors has been completed following shareholder approval at a General Meeting held on 22 January 2021. The issue comprised 5,025,000 ordinary shares of no par value (Ordinary Shares) at a price of A$0.40 per share, including 3,000,000 shares subscribed for by the Company's Chairman, Mr Ian Middlemas and 500,000 shares by the CEO, Mr Tony Swiericzuk. Further information is set out below.
The Company has also issued 500,000 Ordinary Shares to an employee in lieu of 500,000 Performance Rights that had vested, but expired on 31 December 2021.
Settlement and dealings
Application has been made to the AIM Market of the London Stock Exchange ("AIM") for the admission of the 5,025,000 Ordinary Shares issued under the Placement and the 500,000 Ordinary Shares issued to an employee, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading. Dealings on AIM for the 5,025,000 Ordinary Shares issued under the Placement are expected to commence at 8:00am on or around 12 February 2021. Dealings on AIM for the 500,000 Ordinary Shares issued to an employee are expected to commence at 8:00am on or around 15 February 2021.
A prospectus to comply with section 708A(11) of the Corporations Act has also been lodged with ASIC and ASX today. A copy of the prospectus is available to view on the Company's website: www.so4.com.au
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules (DTRs), following Admission of the 5,025,000 Ordinary Shares issued under the Placement and the 500,000 Ordinary Shares issued to an employee, SO4 will have 736,527,863 Ordinary Shares in issue with voting rights attached. Salt Lake holds no shares in treasury. This figure of 736,527,863 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 Shares issued under the Placement | Total Number of Ordinary Shares following issue under the Placement | Percentage of enlarged issued share capital |
Ian Middlemas | 3,000,000 | 20,000,000 | 2.72% |
Tony Swiericzuk | 500,000 | 5,204,470 | 0.71% |
Matthew Bungey | 150,000 | 2,014,075 | 0.27% |
Philip Montgomery | 1,250,000 | 1,250,000 | 0.17% |
Peter Thomas | 125,000 | 245,000 | 0.03% |
Mr Swiericzuk also holds an indirect interest in 5 million unlisted options and 5,879,377 performance rights. Mr Bungey also holds an interest in 450,000 unlisted options and 750,000 performance rights. Mr Montgomery and Mr Thomas both hold an interest in 500,000 unlisted options.
The Notifications below, made in accordance with the requirements of the UK Market Abuse Regulation provide additional information.
For further information please visit www.so4.com.au or contact:
Tony Swierizcuk / 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 |
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 /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
| Subscription for cash in a placement by the Company | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| A$0.40 | 500,000 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | Aggregate volume: 500,000 | ||||
- Price | Aggregate price: 40 Australian cents | ||||
| Aggregate total: A$200,000 | ||||
|
| ||||
e) | Date of the transaction | 11 February 2021 | |||
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 /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
| Subscription for cash in a placement by the Company | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| A$0.40 | 3,000,000 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | Aggregate volume: 3,000,000 | ||||
- Price | Aggregate price: 40 Australian cents | ||||
| Aggregate total: A$1,200,000 | ||||
|
| ||||
e) | Date of the transaction | 11 February 2021 | |||
f) | Place of the transaction | Off market transaction | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Philip Montgomery | |||
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
| Subscription for cash in a placement by the Company | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| A$0.40 | 1,250,000 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | Aggregate volume: 1,250,000 | ||||
- Price | Aggregate price: 40 Australian cents | ||||
| Aggregate total: A$500,000 | ||||
|
| ||||
e) | Date of the transaction | 11 February 2021 | |||
f) | Place of the transaction | Off market transaction | |||
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
| Subscription for cash in a placement by the Company | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| A$0.40 | 150,000 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | Aggregate volume: 150,000 | ||||
- Price | Aggregate price: 40 Australian cents | ||||
| Aggregate total: A$60,000 | ||||
|
| ||||
e) | Date of the transaction | 11 February 2021 | |||
f) | Place of the transaction | Off market transaction | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Peter Thomas | |||
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
| Subscription for cash in a placement by the Company | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| A$0.40 | 125,000 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | Aggregate volume: 125,000 | ||||
- Price | Aggregate price: 40 Australian cents | ||||
| Aggregate total: A$50,000 | ||||
|
| ||||
e) | Date of the transaction | 11 February 2021 | |||
f) | Place of the transaction | Off market transaction | |||
Related Shares:
SO4.L