Last checked at 30 Sep 2019 13:54
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Sylvania Platinum Limited
("Sylvania" or "the Company")
AIM (SLP)
Share Buyback Update
30 September 2019
With reference to the Share Buyback Programme (the "Programme") announced on 23 September 2019, Sylvania announces that on 27 September 2019 it has acquired a total of 1,175,848 ordinary shares of USD0.01 each in the Company ('Ordinary Shares'), for transfer into Treasury, from employees of Sylvania's wholly owned South African subsidiaries. No Directors of the Company participated in the Programme.
Under the terms of the Programme and under the terms and authority of the Company's Bye Laws, the Company repurchased these Ordinary Shares at a price of 41.68 pence per Ordinary Share representing the 30-Day value weighted average price ("VWAP") as at the close of day on 20 September 2019.
Of the 1,175,848 Ordinary Shares repurchased, 780,844 were held by persons discharging managerial responsibilities ("PDMR") as defined in the Market Abuse Regulations ("MAR").
PDMR | Price per share (GBP pence) | Shares sold | Shares retained | Total shares held after event | % of share capital (Shares with voting rights) |
J Prinsloo | 41.68 | 411,382 | 959,894 | 959,894 | 0.34 |
L Carminati | 41.68 | 369,462 | 862,081 | 862,081 | 0.31 |
The Ordinary Shares acquired under the Programme will be used to fulfil the current shortfall in shares held in Treasury to cover the bonus share awards and options, which vest over the next five years.
Following the above transaction, the Company's issued share capital is 289,724,772 Ordinary Shares, of which a total of 8,385,483 Ordinary Shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights in Sylvania is 281,339,289 Ordinary Shares.
This announcement is released by Sylvania Platinum Limited and contains inside information for the purposes of Article 7 of the MAR (EU) 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Terence McConnachie.
CORPORATE INFORMATION
Registered and postal address: | Sylvania Platinum Limited |
| Clarendon House |
| 2 Church Street |
| Hamilton HM 11 |
| Bermuda |
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SA Operations postal address: | PO Box 976 |
| Florida Hills, 1716 |
| South Africa |
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Sylvania Website: www.sylvaniaplatinum.com
CONTACT DETAILS
For further information, please contact: |
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Terence McConnachie (Chief Executive Officer) | +27 82 553 4256 |
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Nominated Advisor and Broker |
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Liberum Capital Limited | +44 (0) 20 3100 2000 |
Richard Crawley / Ed Phillips |
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Communications |
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Alma PR Limited | +44 (0) 203 405 0205 |
Josh Royston / Helena Bogle |
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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
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a) | Name
| Jacobus Johannes Prinsloo | ||||
2 | Reason for the notification
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a) | Position/status
| Managing Director: Sylvania Metals | ||||
b) | Initial notification/ Amendment
| Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| Sylvania Platinum Limited | ||||
b) | LEI
| 2138005DSKINAZ4OA492 | ||||
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
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a) | Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of USD 0.01 each
BMG864081044 | ||||
b) | Nature of the transaction
| Sale of shares | ||||
c) | Price(s) and volume(s)
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d) | Aggregated information
- Aggregated volume
- Price
| n/a Single Transaction
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e) | Date of the transaction
| 27 September 2019 | ||||
f) | Place of the transaction
| Off Market | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated
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a) | Name
| Lewanne Carminati | ||||
2 | Reason for the notification
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a) | Position/status
| Executive Officer: Finance | ||||
b) | Initial notification/ Amendment
| Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a) | Name
| Sylvania Platinum Limited | ||||
b) | LEI
| 2138005DSKINAZ4OA492 | ||||
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
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a) | Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of USD 0.01 each
BMG864081044 | ||||
b) | Nature of the transaction
| Sale of shares | ||||
c) | Price(s) and volume(s)
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d) | Aggregated information
- Aggregated volume
- Price
| n/a Single Transaction
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e) | Date of the transaction
| 27 September 2019 | ||||
f) | Place of the transaction
| Off Market | ||||