Sylvania Platinum Limited Exercise of vested bonus shares (8166T)

TIDMSLP

RNS Number : 8166T

Sylvania Platinum Limited

17 November 2023 _____________________________________________________________________________________________________________________________

17 November 2023

Sylvania Platinum Limited

("Sylvania", the "Company" or the "Group")

Exercise of Vested Bonus Shares

Sylvania (AIM: SLP) today announces that on 16 November 2023 certain Directors, senior management and employees have, following the vesting of deferred share awards granted to them in August 2020 under the Sylvania Platinum Limited Bonus Share Award Plan ("the Plan"), exercised their rights over a total of 1,235,000 Ordinary Shares in the capital of the Company. This has been satisfied by issuing Ordinary Shares held in Treasury.

448,150 of the Ordinary Shares were immediately repurchased by the Company at the vesting price of 70.0 pence, in order to satisfy the tax liabilities of the PDMRs and employees.

The Plan rules allow for employees to request the Company to buy back shares in addition to the tax portion twice a year at the 30-Day VWAP. A further 236,600 Ordinary Shares have been repurchased by the Company at the 30-day VWAP of 76.5 pence, calculated at the close of business on 15 November 2023.

All of the 684,750 Ordinary Shares repurchased by the Company are being held in Treasury.

Of the total 1,235,000 Bonus Shares being exercised, the following relate to Directors and senior management of the Company:

 
  Director      Bonus                      Shares sold                      B onus       Total     % of share capital 
               shares                                                       shares      shares     (Shares with voting 
                being                                                      retained      held            rights) 
              exercised                                                                  after 
                                                                                         event 
                          Sales for   Price per     Other     Price per 
                           tax and      share       share       share 
                           dealing                  sales 
                            costs 
                         ----------  ----------  ----------  ----------- 
 Jaco 
  Prinsloo     140,000     63,000       70.0p         -           -         77,000     1,540,144          0.59% 
             ----------  ----------  ----------  ----------  -----------  ----------  ----------  -------------------- 
 Lewanne 
  Carminati    130,000     58,500       70.0p         -           -         71,500     1,398,336          0.53% 
             ----------  ----------  ----------  ----------  -----------  ----------  ----------  -------------------- 
 
 
    PDMR         Bonus                     Shares sold                    Bonus      Total     % of share capital 
                shares                                                    Shares     shares    (Shares with voting 
                 being                                                   retained     held           rights) 
               exercised                                                             after 
                                                                                     event 
                            Sales     Price per    Other     Price per 
                           for tax      share      share       share 
                             and                   sales 
                           dealing 
                            costs 
                          ---------  ----------  ---------  ---------- 
 Albert 
  Jordaan       95,000      20,000      70.0p        -           -        75,000    334,000           0.13% 
              ----------  ---------  ----------  ---------  ----------  ---------  ---------  -------------------- 
 Robbie van 
  der Schyff    60,000      27,000      70.0p        -           -        33,000     33,000           0.01% 
              ----------  ---------  ----------  ---------  ----------  ---------  ---------  --------------------

Following the above transaction, the Company's issued share capital amounts to 275,375,725 Ordinary Shares of which a total of 13,000,211 Ordinary Shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights in Sylvania 262,375,514 Ordinary Shares.

CONTACT DETAILS

 
 For further information, please 
  contact: 
 Jaco Prinsloo CEO 
  Lewanne Carminati CFO               +27 11 673 1171 
 
 Nominated Adviser and Broker 
 Liberum Capital Limited              +44 (0) 20 3100 2000 
 Richard Crawley / Scott Mathieson 
  / Kane Collings 
 
   Communications 
 BlytheRay                            +44 (0) 20 7138 3205 
 Tim Blythe / Megan Ray               sylvania@BlytheRay.com

CORPORATE INFORMATION

 
 Registered and postal address:   Sylvania Platinum Limited 
                                  Clarendon House 
                                  2 Church Street 
                                  Hamilton HM 11 
                                  Bermuda 
 SA Operations postal address:    PO Box 976 
                                  Florida Hills, 1716 
                                  South Africa

Sylvania Website : www.sylvaniaplatinum.com

About Sylvania Platinum Limited

Sylvania Platinum is a lower-cost producer of platinum group metals (PGM) (platinum, palladium, and rhodium) with operations located in South Africa. The Sylvania Dump Operations (SDO) comprises six chrome beneficiation and PGM processing plants focusing on the retreatment of PGM-rich chrome tailings materials from mines in the Bushveld Igneous Complex. The SDO is the largest PGM producer from chrome tailings re-treatment in the industry. Additionally, the Thaba JV comprises chrome beneficiation and PGM processing plants, treating a combination of ROM and historical chrome tailings from the JV partner, adding a full margin chromite concentrate revenue stream. The Group also holds mining rights for PGM projects in the Northern Limb of the Bushveld Complex.

For more information visit https://www.sylvaniaplatinum.com/

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