21st Jun 2017 09:45
21 June 2017
| AIM/ASX Code: SO4
|
SALT LAKE POTASH LIMITED Issue of Performance Rights
|
Salt Lake Potash Limited ("the Company") advises that it has today granted 1,000,000 performance rights to a key employee pursuant to the Salt Lake Potash Limited Performance Rights Plan, which was approved by shareholders at the Company's Annual General Meeting ("AGM") on 30 November 2016. The Performance Rights issued are subject to various performance conditions (including Pre-Feasibility Study, Definitive Feasibility Study, Project Construction and Production milestones) to be satisfied prior to the relevant expiry dates between 30 June 2018 and 30 June 2021.
The individual award to a Person Discharging Managerial Responsibilities ("PDMR"), which entitles the recipient to acquire Salt Lake Potash ordinary shares at nil cost, was as follows:
PDMR | Number of performance rights granted |
Will Longworth | 1,000,000 |
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
For further information please visit www.saltlakepotash.com.au or contact:
Sam Cordin | Salt Lake Potash Limited | Tel: +61 8 9322 6322 |
Colin Aaronson/Richard Tonthat/Daniel Bush | Grant Thornton UK LLP (Nominated Adviser) | Tel: +44 (0)207 383 5100 |
Nick Tulloch/Beth McKiernan | Cenkos Securities plc (Broker) | Tel: +44 (0) 131 220 6939 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Will Longworth
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Chief Operating 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
Identification code
| Performance Rights
Rights when exercised will result in the issue of Salt lake Potash Limited ordinary shares with ISIN AU000000SO44
| ||||
b)
| Nature of the transaction
| Grant of Performance Rights pursuant to the Salt Lake Potash Limited Performance Rights Plan. | ||||
c)
| Price(s) and volume(s)
|
1. Nil - Performance Rights are part of remuneration arrangements and are subject to the achievement of various performance related milestones as set out in the notice of Annual General Meeting held on 30 November 2016.
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
e)
| Date of the transaction
| 21 June 2017 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
Related Shares:
SO4.L