TIDMSLP
RNS Number : 1567W
Sylvania Platinum Limited
10 November 2017
_____________________________________________________________________________________________________________________________
Sylvania Platinum Limited
("Sylvania", "the Company" or "the Group")
AIM (SLP)
Exercise of Share Options and Bonus Shares
10 November 2017
The Company announces that certain Directors and senior
management have exercised vested options awarded to them under the
Sylvania Platinum Limited Share Option Plan ("the Option Plan") as
well as the deferred share awards granted in accordance with the
Sylvania Platinum Limited Bonus Share Award Plan ("Bonus
Shares").
BACKGROUND
As previously disclosed in the Annual Report the Option Plan was
approved at the Annual General Meeting on 29 December 2011.
The Options issued under the Plan were granted free of charge
and the exercise price (if any) for the options determined by the
Board at its absolute discretion. The expiry date of the options,
unless otherwise determined by the Board, is ten years after the
grant date. The Board at its discretion may apply certain vesting
conditions upon any options issued under the plan.
Under the Plan, 10% of issued Share Capital was allowed to be
issued as Options. The Company however disclosed that it did not
intend to issue more than 5% of issued Share Capital. This was
based on the number of Ordinary Shares in issue at the time of the
AGM held on 29 December 2011. The full 5% has been granted and the
Board does not intend to issue any further Options under the
Plan.
Bonus Shares were awarded to selected employees in August 2015
and, in addition to other vesting conditions, held a 12 month
vesting period.
RECENT EVENTS
Upon exercising the vested Options and Bonus Shares, these
convert to 3,452,900 shares of USD0.01 each in the Company
("Ordinary Shares"), and shares currently held in treasury will be
used to satisfy the exercise of the options.
A further 1,672,100 Options and Bonus Shares converting into the
same number of Ordinary Shares were exercised and then
simultaneously repurchased by the Company in order to satisfy the
tax liabilities of certain employees. These Ordinary Shares are
currently being held in treasury.
In addition to the Options and Bonus Shares above, 835,650
Options and Bonus Shares were exercised and the Company has
repurchased these shares at the 30 Day VWAP of 10.85 pence. These
shares have been placed in treasury.
Of the 5,125,000 Options and Bonus Shares being exercised, the
following relate to Directors and senior management of the
Company:
Director Bonus Plan Shares sold Plan Total % of
shares shares shares shares share
being being retained held capital
exercised exercised after
event
------------------- ------------ ----------- --------------------------- ---------- ---------- ---------
Price Sales Other
per for share
share tax sales
and
dealing
costs
------------------- ------------ ----------- ------- --------- ------- ---------- ---------- ---------
Stuart Murray - 400,000 - - - 400,000 1,000,000 0.35%
------------------- ------------ ----------- ------- --------- ------- ---------- ---------- ---------
Terry McConnachie - 200,000 - - - 200,000 5,015,000 1.75%
------------------- ------------ ----------- ------- --------- ------- ---------- ---------- ---------
Roger Williams - 80,000 - - - 80,000 1,067,000 0.37%
------------------- ------------ ----------- ------- --------- ------- ---------- ---------- ---------
PDMR Bonus Option Shares sold Shares Total % of
shares Plan retained shares share
being shares held capital
exercised being after (Shares
exercised event with
voting
rights)
----------------- ----------- ----------- ----------------------------------- ---------- ---------- ---------
Price Sales Other
per for tax share
share(*) and dealing sales
costs
---------------- ----------- ----------- ---------- ------------- -------- ---------- ---------- ---------
Johannes
Prinsloo 535,000 40,000 258,750 - 316,250 1,647,526 0.58%
----------------- ----------- ----------- ---------- ------------- -------- ---------- ---------- ---------
Lewanne
Carminati 500,000 40,000 243,000 - 297,000 1,488,543 0.52%
----------------- ----------- ----------- ---------- ------------- -------- ---------- ---------- ---------
Albert Jordaan 480,000 40,000 234,000 286,000 - 516,632 0.18%
----------------- ----------- ----------- ---------- ------------- -------- ---------- ---------- ---------
(*) The South African Income Tax is
payable on the day the Options vest
and therefore the price used to value
the shares bought back for tax is the
price on the day the Options vest.
Following the above transactions, the Company's issued share
capital is 294,648,885 Ordinary Shares, of which a total of
8,518,777 Ordinary Shares are held in treasury. Therefore the total
number of Ordinary Shares with voting rights in Sylvania is
286,130,108 Ordinary Shares.
CORPORATE INFORMATION
Registered and Sylvania Platinum Limited
postal address:
Clarendon House
2 Church Street
Hamilton HM 11
Bermuda
SA Operations postal PO Box 976
address:
Florida Hills, 1716
South Africa
Sylvania Website: www.sylvaniaplatinum.com
CONTACT DETAILS
For further information,
please contact:
Terence McConnachie (Chief
Executive Officer) +44 777 533 7175
Nominated Advisor and Broker
Liberum Capital Limited +44 (0) 20 3100 2000
Richard Crawley / Neil
Elliot
Communications
Alma PR Limited +44 (0) 77 8090 1979
Josh Royston / Helena Bogle
/ Hilary Buchanan
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail.
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 S Murray
--- ------------------------------- --------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------
a) Position/status Chairman
--- ------------------------------- --------------------------------------
b) Initial notification/ Initial Notification
Amendment
--- ------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--- -----------------------------------------------------------------------
a) Name Sylvania Platinum Limited
--- ------------------------------- --------------------------------------
b) LEI Application in process
--- ------------------------------- --------------------------------------
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 Ordinary Shares of USD 0.01 each
financial instrument,
type of instrument
BMG864081044
Identification code
--- ------------------------------- --------------------------------------
b) Nature of the transaction Exercise of Options
--- ------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 400,000
---------- ----------
--- ------------------------------- --------------------------------------
d) Aggregated information n/a Single Transaction
* Aggregated volume
* Price
--- ------------------------------- --------------------------------------
e) Date of the transaction 7 November 2017
--- ------------------------------- --------------------------------------
f) Place of the transaction Off market
--- ------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
--- -----------------------------------------------------------------------
a) Name T McConnachie
--- ------------------------------- --------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------
a) Position/status Chief Executive Officer
--- ------------------------------- --------------------------------------
b) Initial notification/ Initial Notification
Amendment
--- ------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--- -----------------------------------------------------------------------
a) Name Sylvania Platinum Limited
--- ------------------------------- --------------------------------------
b) LEI Application in process
--- ------------------------------- --------------------------------------
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 Ordinary Shares of USD 0.01 each
financial instrument,
type of instrument
BMG864081044
Identification code
--- ------------------------------- --------------------------------------
b) Nature of the transaction Exercise of Options
--- ------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 200,000
---------- ----------
--- ------------------------------- --------------------------------------
d) Aggregated information n/a Single Transaction
* Aggregated volume
* Price
--- ------------------------------- --------------------------------------
e) Date of the transaction 7 November 2017
--- ------------------------------- --------------------------------------
f) Place of the transaction Off market
--- ------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
--- -----------------------------------------------------------------------
a) Name R Williams
--- ------------------------------- --------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------
a) Position/status Non-Executive Director
--- ------------------------------- --------------------------------------
b) Initial notification/ Initial Notification
Amendment
--- ------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--- -----------------------------------------------------------------------
a) Name Sylvania Platinum Limited
--- ------------------------------- --------------------------------------
b) LEI Application in process
--- ------------------------------- --------------------------------------
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 Ordinary Shares of USD 0.01 each
financial instrument,
type of instrument
BMG864081044
Identification code
--- ------------------------------- --------------------------------------
b) Nature of the transaction Exercise of Options
--- ------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 80,000
---------- ----------
--- ------------------------------- --------------------------------------
d) Aggregated information n/a Single Transaction
* Aggregated volume
* Price
--- ------------------------------- --------------------------------------
e) Date of the transaction 7 November 2017
--- ------------------------------- --------------------------------------
f) Place of the transaction Off market
--- ------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
--- -----------------------------------------------------------------------
a) Name J Prinsloo
--- ------------------------------- --------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------
a) Position/status Managing Director
--- ------------------------------- --------------------------------------
b) Initial notification/ Initial Notification
Amendment
--- ------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--- -----------------------------------------------------------------------
a) Name Sylvania Platinum Limited
--- ------------------------------- --------------------------------------
b) LEI Application in process
--- ------------------------------- --------------------------------------
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 Ordinary Shares of USD 0.01 each
financial instrument,
type of instrument
BMG864081044
Identification code
--- ------------------------------- --------------------------------------
b) Nature of the transaction Exercise of Options
--- ------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 575,000
---------- ----------
--- ------------------------------- --------------------------------------
d) Aggregated information n/a Single Transaction
* Aggregated volume
* Price
--- ------------------------------- --------------------------------------
e) Date of the transaction 7 November 2017
--- ------------------------------- --------------------------------------
f) Place of the transaction Off Market
--- ------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
--- -----------------------------------------------------------------------
a) Name J Prinsloo
--- ------------------------------- --------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------
a) Position/status Managing Director
--- ------------------------------- --------------------------------------
b) Initial notification/ Initial Notification
Amendment
--- ------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--- -----------------------------------------------------------------------
a) Name Sylvania Platinum Limited
--- ------------------------------- --------------------------------------
b) LEI Application in process
--- ------------------------------- --------------------------------------
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 Ordinary Shares of USD 0.01 each
financial instrument,
type of instrument
BMG864081044
Identification code
--- ------------------------------- --------------------------------------
b) Nature of the transaction Sale of shares
--- ------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
10.85 258,750
--------- ----------
--- ------------------------------- --------------------------------------
d) Aggregated information n/a Single Transaction
* Aggregated volume
* Price
--- ------------------------------- --------------------------------------
e) Date of the transaction 7 November 2017
--- ------------------------------- --------------------------------------
f) Place of the transaction Off Market
--- ------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
--- -----------------------------------------------------------------------
a) Name L Carminati
--- ------------------------------- --------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------
a) Position/status Executive Officer: Finance
--- ------------------------------- --------------------------------------
b) Initial notification/ Initial Notification
Amendment
--- ------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--- -----------------------------------------------------------------------
a) Name Sylvania Platinum Limited
--- ------------------------------- --------------------------------------
b) LEI Application in process
--- ------------------------------- --------------------------------------
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 Ordinary Shares of USD 0.01 each
financial instrument,
type of instrument
BMG864081044
Identification code
--- ------------------------------- --------------------------------------
b) Nature of the transaction Exercise of Options
--- ------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 540,000
---------- ----------
--- ------------------------------- --------------------------------------
d) Aggregated information n/a Single Transaction
* Aggregated volume
* Price
--- ------------------------------- --------------------------------------
e) Date of the transaction 07 November 2017
--- ------------------------------- --------------------------------------
f) Place of the transaction Off Market
--- ------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
--- -----------------------------------------------------------------------
a) Name L Carminati
--- ------------------------------- --------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------
a) Position/status Executive Officer: Finance
--- ------------------------------- --------------------------------------
b) Initial notification/ Initial Notification
Amendment
--- ------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--- -----------------------------------------------------------------------
a) Name Sylvania Platinum Limited
--- ------------------------------- --------------------------------------
b) LEI Application in process
--- ------------------------------- --------------------------------------
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 Ordinary Shares of USD 0.01 each
financial instrument,
type of instrument
BMG864081044
Identification code
--- ------------------------------- --------------------------------------
b) Nature of the transaction Sale of shares
--- ------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
10.85 243,000
--------- ----------
--- ------------------------------- --------------------------------------
d) Aggregated information n/a Single Transaction
* Aggregated volume
* Price
--- ------------------------------- --------------------------------------
e) Date of the transaction 07 November 2017
--- ------------------------------- --------------------------------------
f) Place of the transaction Off Market
--- ------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
--- -----------------------------------------------------------------------
a) Name A Jordaan
--- ------------------------------- --------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------
a) Position/status Executive Officer: New Business
--- ------------------------------- --------------------------------------
b) Initial notification/ Initial Notification
Amendment
--- ------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--- -----------------------------------------------------------------------
a) Name Sylvania Platinum Limited
--- ------------------------------- --------------------------------------
b) LEI Application in progress
--- ------------------------------- --------------------------------------
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 Ordinary Shares of USD 0.01 each
financial instrument,
type of instrument
BMG864081044
Identification code
--- ------------------------------- --------------------------------------
b) Nature of the transaction Exercise of Options
--- ------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 520,000
---------- ----------
--- ------------------------------- --------------------------------------
d) Aggregated information n/a Single Transaction
* Aggregated volume
* Price
--- ------------------------------- --------------------------------------
e) Date of the transaction 7 November 2017
--- ------------------------------- --------------------------------------
f) Place of the transaction Off Market
--- ------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
--- -----------------------------------------------------------------------
a) Name A Jordaan
--- ------------------------------- --------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------
a) Position/status Executive Officer: New Business
--- ------------------------------- --------------------------------------
b) Initial notification/ Initial Notification
Amendment
--- ------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--- -----------------------------------------------------------------------
a) Name Sylvania Platinum Limited
--- ------------------------------- --------------------------------------
b) LEI Application in process
--- ------------------------------- --------------------------------------
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 Ordinary Shares of USD 0.01 each
financial instrument,
type of instrument
BMG864081044
Identification code
--- ------------------------------- --------------------------------------
b) Nature of the transaction Sale of shares
--- ------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
10.85 520,000
--------- ----------
--- ------------------------------- --------------------------------------
d) Aggregated information n/a Single Transaction
* Aggregated volume
* Price
--- ------------------------------- --------------------------------------
e) Date of the transaction 07 November 2017
--- ------------------------------- --------------------------------------
f) Place of the transaction Off Market
--- ------------------------------- --------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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