Issue of Performance Rights

Sovereign Metals Limited
12 April 2024
 

SOVEREIGN METALS LIMITED

 

NEWS RELEASE I 12 APRIL 2024

 

ISSUE OF PERFORMANCE RIGHTS

The Company has today issued 1,450,000 unlisted performance rights to key staff (not PDMRs) as part of their incentive remuneration as follows:

·   550,000 unlisted performance rights subject to the "Definitive Feasibility Study Milestone" expiring on or before 31 October 2025;

·    600,000 performance rights subject to the "Grant of Mining Licence Milestone" that have no exercise price and expire 31 March 2026; and

·   300,000 performance rights subject to the "Final Investment Decision Milestone" that have no exercise price and expire 30 June 2026.

Following the issue of these performance rights, the Company has the following securities on issue:

·      563,003,401 fully paid ordinary shares of no par value each in the Company;

·      34,549,598 unlisted options exercisable at A$0.535 each on or before 21 July 2024;

·     9,660,000 unlisted performance rights subject to the "Definitive Feasibility Study Milestone" expiring on or before 31 October 2025;

·    3,750,000 unlisted performance rights subject to the "Grant of Mining Licence Milestone" that have no exercise price and expire 31 March 2026; and

·    4,450,000 unlisted performance rights subject to the "Final Investment Decision Milestone" that have no exercise price and expire 30 June 2026.

ENQUIRIES

Dylan Browne

Company Secretary
+61(8) 9322 6322

info@sovereignmetals.com

 

Nominated Adviser on AIM and Joint Broker

 

SP Angel Corporate Finance LLP

+44 20 3470 0470

Ewan Leggat

Charlie Bouverat

Harry Davies-Ball


 

 

Joint Brokers

 

Stifel

+44 20 7710 7600

Varun Talwar

 

Ashton Clanfield

 

 

 

Berenberg

+44 20 3207 7800

Matthew Armitt

 

Jennifer Lee

 

 

 

Buchanan

+ 44 20 7466 5000

 

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