Share Purchase

RNS Number : 1853O
Sylvania Platinum Limited
30 September 2019
 

 

 

 

 

 

 

                             _____________________________________________________________________________________________________________________________

 

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, 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

 

 

SA Operations postal address:

PO Box 976

 

Florida Hills, 1716

 

South Africa

 

 

Sylvania Website: www.sylvaniaplatinum.com

 

CONTACT DETAILS

 

For further information, please contact:

 

Terence McConnachie (Chief Executive Officer)

+27 82 553 4256

 

 

Nominated Advisor and Broker

 

Liberum Capital Limited

+44 (0) 20 3100 2000

Richard Crawley / Ed Phillips

 

 

 

Communications

 

Alma PR Limited

+44 (0) 203 405 0205

Josh Royston / Helena Bogle

 

 

 

 

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

 

a)

Name

 

Jacobus Johannes Prinsloo

2

Reason for the notification

 

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

 

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)

 

 

Price(s)

Volume(s)

41.68

441, 382

 

 

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

n/a Single Transaction

 

 

 

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

 

a)

Name

 

Lewanne Carminati

2

Reason for the notification

 

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

 

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

 

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)

 

 

Price(s)

Volume(s)

41.68

369,462

 

 

 

d)

Aggregated information

 

-      Aggregated volume

 

-      Price

 

n/a Single Transaction

 

 

 

e)

Date of the transaction

 

27 September 2019

f)

Place of the transaction

 

Off Market

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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