SOVEREIGN METALS LIMITED
NEWS RELEASE I 27 SEPTEMBER
2024
ISSUE OF PERFORMANCE RIGHTS
Sovereign Metals Limited
(Sovereign or Company) (ASX:SVM, AIM:SVML, OTCQX:SVMLF)
advises that it has today issued 2,000,000
unlisted performance rights to Directors following shareholder
approval on 12 September 2024 as follows:
· 600,000
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" expiring on or before 31 March 2026;
and
· 800,000 performance rights subject to the "Final Investment
Decision Milestone" expiring on or before 30 June 2026.
The Company has also issued
2,725,000 unlisted performance rights to key staff (not PDMRs) as
part of their incentive remuneration as follows:
· 917,500
unlisted performance rights subject to the "Definitive Feasibility
Study Milestone" expiring on or before 31 October 2025;
· 917,500 performance rights subject to the "Grant of Mining
Licence Milestone" expiring on or before 31 March 2026;
and
· 890,000 performance rights subject to the "Final Investment
Decision Milestone" expiring on or before 30 June 2026.
Further, the following unlisted
performance rights lapsed following cessation of employment
(non-PDMR):
· 125,000 performance rights subject to the "Grant of Mining
Licence Milestone" expiring on or before 31 March 2026;
and
· 300,000 performance rights subject to the "Final Investment
Decision Milestone" expiring on or before 30 June 2026.
Following the issue and cancellation
of these unlisted performance rights, the Company has the following
securities on issue:
· 599,879,879 fully paid ordinary shares (of no par
value);
· 10,977,500
unlisted performance rights subject to the "Definitive Feasibility
Study Milestone" expiring on or before 31 October 2025;
· 4,992,500
unlisted performance rights subject to the "Grant of Mining Licence
Milestone" expiring on or before 31 March 2026; and
· 6,190,000
unlisted performance rights subject to the "Final Investment
Decision Milestone" expiring on or before 30 June 2026.
Change of Directors' Interest
Notices are provided below.
ENQUIRIES
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Dylan Browne
Company Secretary
+61(8) 9322 6322
info@sovereignmetals.com
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Nominated Adviser on AIM and
Joint Broker
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SP Angel Corporate Finance
LLP
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+44 20 3470 0470
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Ewan Leggat
Charlie Bouverat
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Joint
Brokers
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Stifel
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+44 20 7710 7600
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Varun Talwar
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Ashton Clanfield
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Berenberg
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+44 20 3207 7800
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Matthew Armitt
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Jennifer Lee
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Buchanan
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+ 44 20 7466 5000
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Appendix 3Y
Change of Director's Interest Notice
Information or documents not available now must be given to
ASX as soon as available. Information and documents given to
ASX become ASX's property and may be made public.
Introduced 30/09/01 Amended
01/01/11
|
Name of entity
SOVEREIGN METALS
LIMITED
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|
ABN
71 120 833
427
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A)
We (the entity) give ASX the
following information under listing rule 3.19A.2 and as agent for
the director for the purposes of section 205G of the Corporations
Act.
|
Name of Director
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Benjamin Stoikovich
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Date of last notice
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24 November 2023
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Part 1 - Change of director's relevant interests in
securities
In
the case of a trust, this includes interests in the trust made
available by the responsible entity of the trust
Note: In the
case of a company, interests which come within paragraph (i) of the
definition of "notifiable interest of a director" should be
disclosed in this part.
|
Direct or indirect interest
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Direct and Indirect
|
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Nature of indirect interest
(including registered holder)
Note: Provide details of the
circumstances giving rise to the relevant interest.
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Selwyn Capital Limited (beneficial
interest)
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Date of change
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27 September 2024
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No.
of securities held prior to change
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(a) 4,190,000
(b) 600,000
(c) 350,000
(d) 500,000
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|
Class
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(a) Ordinary Fully Paid
Shares
(b) Unlisted Performance
Rights subject to the "Definitive Feasibility Study Milestone"
expiring 31 October 2025
(c) Unlisted Performance
Rights subject to the "Grant of Mining Licence Milestone" expiring
31 March 2026
(d) Unlisted Performance
Rights subject to the "Final Investment Decision Milestone"
expiring 30 June 2026
|
|
Number acquired
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(b) 300,000
(c) 300,000
(d) 400,000
|
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Number disposed
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Not applicable
|
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Value/Consideration
Note: If consideration is non-cash,
provide details and estimated valuation
|
Not applicable - see nature of
change below
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No.
of securities held after change
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(a) 4,190,000
(b) 900,000
(c) 650,000
(d) 900,000
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|
Nature of change
Example: on-market trade, off-market
trade, exercise of options, issue of securities under dividend
reinvestment plan, participation in buy-back
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Issue of Performance Rights
following shareholder approval
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Part 2 - Change of director's interests in
contracts
Note: In the
case of a company, interests which come within paragraph (ii) of
the definition of "notifiable interest of a director" should be
disclosed in this part.
|
Detail of contract
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Not applicable
|
|
Nature of interest
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Not applicable
|
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Name of registered holder
(if
issued securities)
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Not applicable
|
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Date of change
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Not applicable
|
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No.
and class of securities to which interest related prior to
change
Note: Details are only required for
a contract in relation to which the interest has changed
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Not applicable
|
|
Interest acquired
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Not applicable
|
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Interest disposed
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Not applicable
|
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Value/Consideration
Note: If consideration is non-cash,
provide details and an estimated valuation
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Not applicable
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Interest after change
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Not applicable
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Part 3 - +Closed
period
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Were the interests in the securities or contracts detailed
above traded during a +closed period where prior written clearance was
required?
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No
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If
so, was prior written clearance provided to allow the trade to
proceed during this period?
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Not applicable
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If
prior written clearance was provided, on what date was this
provided?
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Not applicable
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Initial notification/Amendment
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Initial
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LEI
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213800NSPXSASTENFQ34
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Place of transaction
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Australian Securities Exchange
(ASX)
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Appendix 3Y
Change of Director's Interest Notice
Information or documents not available now must be given to
ASX as soon as available. Information and documents given to
ASX become ASX's property and may be made public.
Introduced 30/09/01 Amended
01/01/11
|
Name of entity
SOVEREIGN METALS
LIMITED
|
|
ABN
71 120 833
427
|
B)
We (the entity) give ASX the
following information under listing rule 3.19A.2 and as agent for
the director for the purposes of section 205G of the Corporations
Act.
|
Name of Director
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Francis (Frank) Eagar
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Date of last notice
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20 October 2023
|
Part 1 - Change of director's relevant interests in
securities
In
the case of a trust, this includes interests in the trust made
available by the responsible entity of the trust
Note: In the
case of a company, interests which come within paragraph (i) of the
definition of "notifiable interest of a director" should be
disclosed in this part.
|
Direct or indirect interest
|
Direct
|
|
Nature of indirect interest
(including registered holder)
Note: Provide details of the
circumstances giving rise to the relevant interest.
|
|
|
Date of change
|
27 September 2024
|
|
No.
of securities held prior to change
|
(a) 500,000
(b) 1,000,000
(c) 500,000
(d) 700,000
|
|
Class
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(a) Ordinary Fully Paid
Shares
(b) Unlisted Performance
Rights subject to the "Definitive Feasibility Study Milestone"
expiring 31 October 2025
(c) Unlisted Performance
Rights subject to the "Grant of Mining Licence Milestone" expiring
31 March 2026
(d) Unlisted Performance
Rights subject to the "Final Investment Decision Milestone"
expiring 30 June 2026
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Number acquired
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(b) 300,000
(c) 300,000
(d) 400,000
|
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Number disposed
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Not applicable
|
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Value/Consideration
Note: If consideration is non-cash,
provide details and estimated valuation
|
Not applicable - see nature of
change below
|
|
No.
of securities held after change
|
(a) 500,000
(b) 1,300,000
(c) 800,000
(d) 1,100,000
|
|
Nature of change
Example: on-market trade, off-market
trade, exercise of options, issue of securities under dividend
reinvestment plan, participation in buy-back
|
Issue of Performance Rights
following shareholder approval
|
Part 2 - Change of director's interests in
contracts
Note: In the
case of a company, interests which come within paragraph (ii) of
the definition of "notifiable interest of a director" should be
disclosed in this part.
|
Detail of contract
|
Not applicable
|
|
Nature of interest
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Not applicable
|
|
Name of registered holder
(if
issued securities)
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Not applicable
|
|
Date of change
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Not applicable
|
|
No.
and class of securities to which interest related prior to
change
Note: Details are only required for
a contract in relation to which the interest has changed
|
Not applicable
|
|
Interest acquired
|
Not applicable
|
|
Interest disposed
|
Not applicable
|
|
Value/Consideration
Note: If consideration is non-cash,
provide details and an estimated valuation
|
Not applicable
|
|
Interest after change
|
Not applicable
|
Part 3 - +Closed
period
|
Were the interests in the securities or contracts detailed
above traded during a +closed period where prior written clearance was
required?
|
No
|
|
If
so, was prior written clearance provided to allow the trade to
proceed during this period?
|
Not applicable
|
|
If
prior written clearance was provided, on what date was this
provided?
|
Not applicable
|
|
Initial notification/Amendment
|
Initial
|
|
LEI
|
213800NSPXSASTENFQ34
|
|
Place of transaction
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Australian Securities Exchange
(ASX)
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