ASX Trading Halt

RNS Number : 8745G

Sovereign Metals Limited

01 April 2022

 

SOVEREIGN METALS LIMITED

NEWS RELEASE | 1 APRIL 2022

ASX Trading Halt

Sovereign Metals Limited (ASX:SVM; AIM:SVML) (Sovereign or the Company) advises that today the Company requested an immediate voluntary trading halt in its shares on the Australian Securities Exchange (ASX), pending an announcement regarding an updated Mineral Resource Estimate at Kasiya.

The Company has requested that the trading halt remain until the earlier of an announcement to the market regarding the above or the opening of trade on ASX on 5 April 2022.

Trading in the Company's ordinary securities will continue to trade as normal on AIM during this period.

The Company also advises that, in accordance with the Company's shareholder approved Employee Incentive Plan, the following performance rights have been cancelled for no consideration following cessation of employment with the Company:

· 400,000 performance rights subject to the "Feasibility Study Milestone" expiring on or before 31 December 2023; and

· 650,000 performance rights subject to the "Decision to Mine Milestone" expiring on or before 31 October 2025.

Following the cancellation, Sovereign has the following securities on issue:

· 432,433,755 ordinary fully paid ordinary shares;

· 6,375,000 unlisted options exercisable at A$0.14 on or before 30 June 2022;

· 2,000,000 unlisted options exercisable at A$0.18 on or before 30 June 2022;

· 8,919,500 unlisted options exercisable at A$0.50 on or before 9 April 2022;

· 2,500,000 unlisted options exercisable at A$0.18 on or before 31 July 2022;

· 5,120,000 performance rights subject to the "Feasibility Study Milestone" expiring on or before 31 December 2023; and

· 7,320,000 performance rights subject to the "Decision to Mine Milestone" expiring on or before 31 October 2025.

ENQUIRIES

Dr Julian Stephens (Perth) Managing Director [phone]

Sam Cordin (Perth) [phone]

Sapan Ghai (London) [phone]

Nominated Adviser on AIM
RFC Ambrian
Bhavesh Patel / Andrew Thomson	[phone]
Joint Brokers
Berenberg	[phone]
Matthew Armitt
Jennifer Lee
Varun Talwar
Optiva Securities	[phone]
Daniel Ingrams
Mariela Jaho
Christian Dennis

 

END

 

 

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