Last checked at 11 Jul 2023 07:00
11 July 2023
Trident Royalties Plc
("Trident" or the "Company")
Director Share Purchase
The Company announces that Adam Davidson, Chief Executive Officer and executive director, has purchased 30,000 ordinary shares of £0.01 in the Company ("Ordinary Shares") on market at an average price of 45.3 pence per Ordinary Share. Following this share purchase, Adam Davidson holds 330,000 Ordinary Shares representing 0.1% per cent of the Company's voting rights.
Further details are set out in the PDMR form below, made in accordance with the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
Contact details:
Trident Royalties Plc Adam Davidson / Richard Hughes | www.tridentroyalties.com +1 (757) 208-5171 / +44 7967 589997 |
Grant Thornton (Nominated Adviser) Colin Aaronson / Samantha Harrison / Samuel Littler | www.grantthornton.co.uk +44 020 7383 5100 |
Stifel Nicolaus Europe Limited (Joint Broker) Callum Stewart / Ashton Clanfield | www.stifelinstitutional.com +44 20 7710 7600 |
Tamesis Partners LLP (Joint Broker) Richard Greenfield | www.tamesispartners.com +44 20 3882 2868 |
Liberum Capital Limited (Joint Broker) Scott Mathieson / Cara Murphy | www.liberum.com +44 20 3100 2184 |
St Brides Partners Ltd (Financial PR & IR) Susie Geliher / Catherine Leftley | www.stbridespartners.co.uk +44 20 7236 1177 |
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 | Adam Davidson | ||||||
2. | Reason for the notification | |||||||
a. | Position/status | CEO and executive director | ||||||
b. | Initial notification/Amendment | Initial Notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Trident Royalties Plc | ||||||
b. | LEI | 213800V6U8KJ7U2BV956 | ||||||
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 £0.01 each ISIN: GB00BF7J2535 | ||||||
b. | Nature of the transaction | Purchase of Ordinary Shares | ||||||
c. | Price(s) and volume(s) |
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d. | Aggregated information ·Aggregated volume ·Price |
30,000 45.3 pence | ||||||
e. | Date of the transaction | 7 & 10 July 2023 | ||||||
f. | Place of the transaction | London Stock Exchange's AIM Market (XLON) | ||||||
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About Trident
Trident is a growth-focused diversified mining royalty and streaming company, providing investors with exposure to a mix of base battery, precious, and bulk metals.
Key highlights of Trident's strategy include:
· | Building upon a royalty and streaming portfolio which broadly mirrors the commodity exposure of the global mining sector (excluding fossil fuels) with a bias towards production or near-production assets, differentiating Trident from the majority of peers which are exclusively, or heavily weighted, to precious metals;
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· | Acquiring royalties and streams in resource-friendly jurisdictions worldwide, while most competitors have portfolios focused on North and South America;
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· | Targeting attractive small-to-mid size transactions which are often ignored in a sector dominated by large players;
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· | Active deal-sourcing which, in addition to writing new royalties and streams, will focus on the acquisition of assets held by natural sellers such as: closed-end funds, prospect generators, junior and mid-tier miners holding royalties as non-core assets, and counterparties seeking to monetise packages of royalties and streams which are otherwise undervalued by the market;
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· | Maintaining a low-overhead model which is capable of supporting a larger scale business without a commensurate increase in operating costs; and
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· | Leveraging the experience of management, the board of directors, and Trident's adviser team, all of whom have deep industry connections and strong transactional experience across multiple commodities and jurisdictions. |
The acquisition and aggregation of individual royalties and streams is expected to deliver strong returns for shareholders as assets are acquired on terms reflective of single asset risk compared with the lower risk profile of a diversified, larger scale portfolio. Further value is expected to be delivered by the introduction of conservative levels of leverage through debt. Once scale has been achieved, strong cash generation is expected to support an attractive dividend policy, providing investors with a desirable mix of inflation protection, growth and income.