Sylvania (AIM: SLP) today announces that on 16 November 2023 certain Directors, senior management and employees have, following the vesting of deferred share awards granted to them in August 2020 under the Sylvania Platinum Limited Bonus Share Award Plan ("the Plan"), exercised their rights over a total of 1,235,000 Ordinary Shares in the capital of the Company. This has been satisfied by issuing Ordinary Shares held in Treasury.
448,150 of the Ordinary Shares were immediately repurchased by the Company at the vesting price of 70.0 pence, in order to satisfy the tax liabilities of the PDMRs and employees.
The Plan rules allow for employees to request the Company to buy back shares in addition to the tax portion twice a year at the 30-Day VWAP. A further 236,600 Ordinary Shares have been repurchased by the Company at the 30-day VWAP of 76.5 pence, calculated at the close of business on 15 November 2023.
All of the 684,750 Ordinary Shares repurchased by the Company are being held in Treasury.
Of the total 1,235,000 Bonus Shares being exercised, the following relate to Directors and senior management of the Company:
| | | | | Sales for tax and dealing costs | P rice per share | Other share sales | Price per share |
|---|
| Jaco Prinsloo | 140,000 | 63,000 | 70.0p | - | - | 77,000 | 1,540,144 | 0.59% |
| Lewanne Carminati | 130,000 | 58,500 | 70.0p | - | - | 71,500 | 1,398,336 | 0.53% |
| Sales for tax and dealing costs | | | | | | P rice per share | Other share sales | Price per share |
| Albert Jordaan | 95,000 | 20,000 | 70.0p | - | - | 75,000 | 334,000 | 0.13% |
| Robbie van der Schyff | 60,000 | 27,000 | 70.0p | - | - | 33,000 | 33,000 | 0.01% |
Following the above transaction, the Company's issued share capital amounts to 275,375,725 Ordinary Shares of which a total of 13,000,211 Ordinary Shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights in Sylvania 262,375,514 Ordinary Shares.
| 1 | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name | Jacobus Johannes Prinsloo |
| 2 | Reason for the notification |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/ Amendment | Initial Notification |
| a) | Name | Sylvania Platinum Limited |
| b) | LEI | 2138005DSKINAZ4OA492 |
| b) | Nature of the transaction | Exercise of Share Awards |
| c) | Price(s) and volume(s) | |
| d) | Aggregated information - Aggregated volume - Price | n/a Single Transaction |
| e) | Date of the transaction | 16 November 2023 |
| f) | Place of the transaction | Off Market |
| 1 | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name | Jacobus Johannes Prinsloo |
| 2 | Reason for the notification |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/ Amendment | Initial Notification |
| a) | Name | Sylvania Platinum Limited |
| b) | LEI | 2138005DSKINAZ4OA492 |
| b) | Nature of the transaction | Sale of exercised Share Awards to satisfy the tax liability |
| c) | Price(s) and volume(s) | |
| d) | Aggregated information - Aggregated volume - Price | n/a Single Transaction |
| e) | Date of the transaction | 16 November 2023 |
| 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 | Chief Financial Officer |
| b) | Initial notification/ Amendment | Initial Notification |
| a) | Name | Sylvania Platinum Limited |
| b) | LEI | 2138005DSKINAZ4OA492 |
| b) | Nature of the transaction | Exercise of Share Awards |
| c) | Price(s) and volume(s) | |
| d) | Aggregated information - Aggregated volume - Price | n/a Single Transaction |
| e) | Date of the transaction | 16 November 2023 |
| 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 | Chief Financial Officer |
| b) | Initial notification/ Amendment | Initial Notification |
| a) | Name | Sylvania Platinum Limited |
| b) | LEI | 2138005DSKINAZ4OA492 |
| b) | Nature of the transaction | Sale of exercised Share Awards to satisfy the tax liability |
| c) | Price(s) and volume(s) | |
| d) | Aggregated information - Aggregated volume - Price | n/a Single Transaction |
| e) | Date of the transaction | 16 November 2023 |
| f) | Place of the transaction | Off Market |
| 1 | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name | Albertus Jacobus Johannes Jordaan |
| 2 | Reason for the notification |
| a) | Position/status | Executive Officer: New Business |
| b) | Initial notification/ Amendment | Initial Notification |
| a) | Name | Sylvania Platinum Limited |
| b) | LEI | 2138005DSKINAZ4OA492 |
| b) | Nature of the transaction | Exercise of Bonus Shares |
| c) | Price(s) and volume(s) | |
| d) | Aggregated information - Aggregated volume - Price | n/a Single Transaction |
| e) | Date of the transaction | 16 November 2023 |
| f) | Place of the transaction | Off Market |
| 1 | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name | Albertus Jacobus Johannes Jordaan |
| 2 | Reason for the notification |
| a) | Position/status | Executive Officer: New Business |
| b) | Initial notification/ Amendment | Initial Notification |
| a) | Name | Sylvania Platinum Limited |
| b) | LEI | 2138005DSKINAZ4OA492 |
| b) | Nature of the transaction | Sale of exercised Share Awards to satisfy the tax liability |
| c) | Price(s) and volume(s) | |
| d) | Aggregated information - Aggregated volume - Price | n/a Single Transaction |
| e) | Date of the transaction | 16 November 2023 |
| f) | Place of the transaction | Off Market |
| 1 | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name | Robert John van der Schyff |
| 2 | Reason for the notification |
| a) | Position/status | Executive Officer: Operations |
| b) | Initial notification/ Amendment | Initial Notification |
| a) | Name | Sylvania Platinum Limited |
| b) | LEI | 2138005DSKINAZ4OA492 |
| b) | Nature of the transaction | Exercise of Bonus Shares |
| c) | Price(s) and volume(s) | |
| d) | Aggregated information - Aggregated volume - Price | n/a Single Transaction |
| e) | Date of the transaction | 16 November 2023 |
| f) | Place of the transaction | Off Market |
| 1 | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name | Robert John van der Schyff |
| 2 | Reason for the notification |
| a) | Position/status | Executive Officer: Operations |
| b) | Initial notification/ Amendment | Initial Notification |
| a) | Name | Sylvania Platinum Limited |
| b) | LEI | 2138005DSKINAZ4OA492 |
| b) | Nature of the transaction | Sale of exercised Bonus Shares |
| c) | Price(s) and volume(s) | |
| d) | Aggregated information - Aggregated volume - Price | n/a Single Transaction |
| e) | Date of the transaction | 16 November 2023 |
| f) | Place of the transaction | Off Market |