17th Aug 2020 07:00
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 |
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.
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 | ||||
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 | 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 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$0.50 | 400,000 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | Aggregate volume: 400,000 Aggregate price: 50 Australian cents Aggregate total: A$200,000 | ||||
- Price | |||||
e) | Date of the transaction | 17 August 2020 | |||
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 | 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 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$0.50 | 2,750,000 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | Aggregate volume: 2,750,000 Aggregate price: 50 Australian cents Aggregate total: A$1,375,000 | ||||
- Price | |||||
e) | Date of the transaction | 17 August 2020 | |||
f) | Place of the transaction | Off market transaction | |||
Related Shares:
SO4.L