18 Jun 2020 15:15
18 June 2020
Bacanora Lithium plc
("Bacanora" or the "Company")
Transaction Notification
Bacanora Lithium plc (AIM: BCN), a lithium exploration and development company, has received notification of the off-market transfer of a portion of the shares beneficially owned by Mark Hohnen, Executive Chairman of the Company. The transfer is ultimately to an existing superannuation pension fund of Mr Hohnen. After completion of the transfer, the ultimate beneficial ownership has not changed and Mr Hohnen's beneficial interest in the Company's shares remains at 2,514,951 representing 1.13 per cent. of the Company's current issued share capital.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a. | Name | Mark Hohnen
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2 | Reason for notification |
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a. | Position/Status | Executive Chairman |
b. | Initial notification/ Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a. | Name | Bacanora Lithium plc |
b. | LEI | 2138006JSN7VQUDINN66 |
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 | Ordinary shares of 10p GB00BD20C246 |
b. | Nature of the transaction | Transfer of shares to a superannuation pension fund with the same beneficial owner. Transfer Date - 12 June 2020 Transferor - Fernan Pty Ltd Transferee - Ben Hohnen Transfer Date - 15 June 2020 Transferor - Ben Hohnen Transferee - Vynben Pty Ltd (Mark Hohnen Superannuation Fund) | |||||
c. | Price(s) and volume(s) |
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| Price(s) per share | Volume(s) |
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| AUS$0.438 | 742,500 Shares |
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d. | Aggregated information - Aggregated Volume - Price |
742,500 Ordinary Shares AUS$0.438 | |||||
e. | Date of the transaction | 12 June and 15 June 2020 | |||||
f. | Place of the transaction | Off Market | |||||
** ENDS **
For further information please visit www.bacanoralithium.com or contact:
Bacanora Lithium plc Peter Secker, CEO Janet Blas, CFO
| info@bacanoralithium.com |
Cairn Financial Advisers LLP, Nomad Sandy Jamieson / Liam Murray
| +44 (0) 20 7213 0880 |
Citigroup Global Markets, Joint Broker Tom Reid / Patrick Evans / Matthew Kenney
| +44 (0) 20 7986 4000 |
Canaccord Genuity, Joint Broker James Asensio / Edward Montgomery
| +44 (0) 20 7523 8000 |
Tavistock, Financial PR Adviser Jos Simson / Emily Moss / Oliver Lamb | Bacanora@tavistock.co.uk +44 (0) 20 7920 3150 +44 (0) 77 8855 4035 |
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014
Notes to editors
Bacanora Lithium Plc is an AIM-listed (ticker 'BCN') lithium development and exploration company. The Company owns assets in Mexico and Germany. It is focused on building, in collaboration with its major shareholder and offtake partner, Ganfeng Lithium (the world's largest lithium metals producer), a 35,000 tonne per annum open pit lithium carbonate operation at its flagship asset, the Sonora Lithium Project in Mexico. The Sonora Lithium Project has 8.8 million tonnes of lithium carbonate (Li2CO3) equivalent resources, with an approximate 250 year resource life, as detailed in its December 2017 Feasibility Study.
Sonora Lithium Ltd ("SLL") is the operational holding company for the Sonora Lithium Project and owns 100% of the La Ventana concession. The La Ventana concession accounts for 88% of the mined ore feed in the Sonora Feasibility Study which covers the initial 19 years of the project mine life. SLL is owned 77.5% by Bacanora and 22.5% by Ganfeng Lithium Ltd. SLL also owns 70% of the El Sauz and Fleur concessions.
In addition, the Company has a 50% interest in the Zinnwald Lithium Project and the Falkenhain and Altenberg Licences in southern Saxony, Germany.
Important notice
The contents of this announcement have been prepared by and are the sole responsibility of Bacanora.