Exercise of Vested Bonus Shares
Directors and employees exercised vested bonus shares totalling 455,358 shares granted in August 2021.
- Total bonus shares exercised 455,358
- Shares repurchased at vesting price 153,168 (prior at 50.0p)
- Shares repurchased at 30-day VWAP 89,374 (prior at 46.75p)
- Issued share capital after transaction 273,366,725 Ordinary Shares
- Shares with voting rights 261,814,330 Ordinary Shares
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Sylvania (AIM: SLP), the platinum group metals ("PGM") producer and developer with assets in South Africa, today announces that certain Directors, senior management and employees have, following the vesting of deferred share awards granted to them in August 2021 under the Sylvania Platinum Limited Bonus Share Award Plan ("the Plan"), exercised their rights over a total of 455,358 Ordinary Shares in the capital of the Company. This has been satisfied by issuing Ordinary Shares held in Treasury.
153,168 of the Ordinary Shares were immediately repurchased by the Company at the vesting price of 50.00 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 89,374 Ordinary Shares have been repurchased by the Company at the 30-day VWAP of 46.75 pence, calculated at the close of business on 25 September 2024.
All of the 242,542 Ordinary Shares repurchased by the Company are being held in Treasury.
Of the total 455,358 Bonus Shares being exercised, the following relate to Directors and senior management of the Company:
| Director | Bonus shares being exercised | Shares sold | B onus s hares retained | Total shares held after event | % of share capital (Shares with voting rights) | |||
|---|---|---|---|---|---|---|---|---|
| Sales for tax and dealing costs | P rice per share | Other share sales | Price per share | |||||
| Jaco Prinsloo | 55,000 | 24,750 | 50.0p | - | - | 30,250 | 1,570,354 | 0.60% |
| Lewanne Carminati | 43,000 | 19,350 | 50.0p | - | - | 23,650 | 1,421,981 | 0.54% |
| PDMR | Bonus shares being exercised | Shares sold | B onus Shares retained | Total shares held after event | % of share capital (Shares with voting rights) | |||
| Sales for tax and dealing costs | P rice per share | Other share sales | Price per share | |||||
| Albert Jordaan | 31,625 | - | 50.0p | - | - | 31,625 | 365,625 | 0.14% |
| Robbie van der Schyff | 27,652 | 12,443 | 50.0p | - | - | 15,209 | 48,209 | 0.02% |
Following the above transaction, the Company's issued share capital amounts to 273,366,725 Ordinary Shares of which a total of 11,552,395 Ordinary Shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights in Sylvania 261,814,330 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 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of USD 0.01 each BMG864081044 | ||||
| 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 | 26 September 2024 | ||||
| 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 | ||||
| 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 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 | 26 September 2024 | ||||
| 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 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of USD 0.01 each BMG864081044 | ||||
| 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 | 26 September 2024 | ||||
| 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 | ||||
| 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 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 | 26 September 2024 | ||||
| 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 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of USD 0.01 each BMG864081044 | ||||
| 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 | 26 September 2024 | ||||
| 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 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of USD 0.01 each BMG864081044 | ||||
| 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 | 26 September 2024 | ||||
| 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 | ||||
| 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 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 | 26 September 2024 | ||||
| f) | Place of the transaction | Off Market |
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