Share Buyback

Sylvania Platinum Limited (AIM: SLP) announces that it intends to conduct a Share Buyback on-market to purchase Ordinary US$0.01 Shares ("Ordinary Shares") of the Company's issued share capital, up to a maximum consideration of US$3 million.

The purpose of the Share Buyback is to reduce the share capital of the Company. The Share Buyback will be done under the terms and authority of the Company's Bye Laws and all Ordinary Shares purchased will be cancelled.

The Company has instructed Liberum Capital Limited to execute the Share Buyback, including its irrevocable appointment to purchase shares with absolute discretion during any closed period. The Share Buyback will be funded from the Company's current cash balance.

Given the limited liquidity in the Ordinary Shares, the Company may not be able to benefit from the exemption laid down in Article 5(1) of Regulation (EU) No 596/2014, whereby the Company would not purchase shares at a price higher than the higher of the price of the last independent trade and the highest current independent purchase bid on the trading venue where the purchase is carried out. Furthermore, a buyback of Ordinary Shares on any trading day is likely to represent a significant proportion, or possibly all, of the daily trading volume in the ordinary shares on the London Stock Exchange (and is likely to exceed the 25% limit of the average daily trading volume as laid down in Article 5(1) of Regulation (EU) No 596/2014).

The Share Buyback will be effective from the date of this announcement and will expire on 30 April 2024.

The Company will make further announcements in due course following any share purchases.