Lapse of Performance Rights
Sovereign Metals Limited announced the lapse of 10,977,500 unlisted performance rights, which were subject to the "Definitive Feasibility Study Milestone," without exercise or conversion. Following this lapse, the company's securities on issue include 646,938,703 fully paid ordinary shares, 4,992,500 unlisted performance rights tied to the "Grant of Mining Licence Milestone" expiring by March 31, 2026, and 6,190,000 unlisted performance rights linked to the "Final Investment Decision Milestone" expiring by June 30, 2026. Director's interest notices regarding the lapse have been provided.
Select text to share a quote on X · sign in to keep highlights & notes in your SVML notes
Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX:SVMLF) (Sovereign or the Company) advises that 10,977,500 unlisted performance rights that were subject to the "Definitive Feasibility Study Milestone" have lapsed today without exercise or conversion.
Following the lapse of these unlisted performance rights, the Company has the following securities on issue:
- 646,938,703 fully paid ordinary shares (of no par value);
- 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 in relation to the lapse of unlisted performance rights have been provided below.
Introduced 30/09/01 Amended 01/01/11
Name of entity SOVEREIGN METALS LIMITED
ABN 71 120 833 427
| Name of Director | Benjamin Stoikovich |
| Date of last notice | 27 September 2024 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Direct and Indirect |
| Date of change | 31 October 2025 |
| No. of securities held prior to change | (a) 4,190,000 (b) 900,000 (c) 650,000 (d) 900,000 |
| Class | (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 | Nil |
| Number disposed | (b) (900,000) |
| No. of securities held after change | (a) 4,190,000 (b) - (c) 650,000 (d) 900,000 |
| Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back | Expiry of Performance Rights without exercise or conversion |
| Part 2 - Change of director's interests in contracts | |
| Detail of contract | Not applicable |
| Nature of interest | Not applicable |
| Name of registered holder (if issued securities) | Not applicable |
| Date of change | Not applicable |
| Interest acquired | Not applicable |
| Interest disposed | Not applicable |
| Interest after change | Not applicable |
| Part 3 - +Closed period | |
| If prior written clearance was provided, on what date was this provided? | Not applicable |
| Initial notification/Amendment | Initial |
| LEI | 213800NSPXSASTENFQ34 |
| Place of transaction | Australian Securities Exchange (ASX) |
Appendix 3Y
Change of Director's Interest Notice
Introduced 30/09/01 Amended 01/01/11
Name of entity SOVEREIGN METALS LIMITED
ABN 71 120 833 427
| Name of Director | Francis (Frank) Eagar |
| Date of last notice | 27 September 2024 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Direct |
| Date of change | 31 October 2025 |
| No. of securities held prior to change | (a) 500,000 (b) 1,300,000 (c) 800,000 (d) 1,100,000 |
| Class | (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 | Nil |
| Number disposed | (b) (1,300,000) |
| No. of securities held after change | (a) 500,000 (b) - (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 | Expiry of Performance Rights without exercise or conversion |
| Part 2 - Change of director's interests in contracts | |
| Detail of contract | Not applicable |
| Nature of interest | Not applicable |
| Name of registered holder (if issued securities) | Not applicable |
| Date of change | Not applicable |
| Interest acquired | Not applicable |
| Interest disposed | Not applicable |
| Interest after change | Not applicable |
| Part 3 - +Closed period | |
| If prior written clearance was provided, on what date was this provided? | Not applicable |
| Initial notification/Amendment | Initial |
| LEI | 213800NSPXSASTENFQ34 |
| Place of transaction | Australian Securities Exchange (ASX) |
Appendix 3Y
Change of Director's Interest Notice
Introduced 30/09/01 Amended 01/01/11
Name of entity SOVEREIGN METALS LIMITED
ABN 71 120 833 427
| Name of Director | Julian Stephens |
| Date of last notice | 28 March 2024 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Indirect |
| Date of change | 31 October 2025 |
| No. of securities held prior to change | (a) 13,557,518 (b) 1,200,000 |
| Class | (a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Definitive Feasibility Study Milestone" expiring 31 October 2025 |
| Number acquired | Nil |
| Number disposed | (b) (1,200,000) |
| No. of securities held after change | (a) 13,557,518 (b) - |
| Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back | Expiry of Performance Rights without exercise or conversion |
| Part 2 - Change of director's interests in contracts | |
| Detail of contract | Not applicable |
| Nature of interest | Not applicable |
| Name of registered holder (if issued securities) | Not applicable |
| Date of change | Not applicable |
| Interest acquired | Not applicable |
| Interest disposed | Not applicable |
| Interest after change | Not applicable |
| Part 3 - +Closed period | |
| If prior written clearance was provided, on what date was this provided? | Not applicable |
| Initial notification/Amendment | Initial |
| LEI | 213800NSPXSASTENFQ34 |
| Place of transaction | Australian Securities Exchange (ASX) |
Appendix 3Y
Change of Director's Interest Notice
Introduced 30/09/01 Amended 01/01/11
Name of entity SOVEREIGN METALS LIMITED
ABN 71 120 833 427
| Name of Director | Mark Pearce |
| Date of last notice | 4 July 2025 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Direct and Indirect |
| Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest. | · Mr Mark Pearce and Mrs Natasha Pearce <NMLP Family A/C> (trustee and beneficial interest) · Apollo Group Pty Ltd (director and indirect shareholder) · Crystal Brook Investments Pty Ltd (director and beneficial interest) · Roseberry Holdings Pty Ltd |
| Date of change | 31 October 2025 |
| No. of securities held prior to change | (a) 4,161,151 (b) 300,000 (c) 250,000 (d) 400,000 |
| Class | (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 | Nil |
| Number disposed | (b) (300,000) |
| No. of securities held after change | (a) 4,161,151 (b) - (c) 250,000 (d) 400,000 |
| Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back | Expiry of Performance Rights without exercise or conversion |
| Part 2 - Change of director's interests in contracts | |
| Detail of contract | Not applicable |
| Nature of interest | Not applicable |
| Name of registered holder (if issued securities) | Not applicable |
| Date of change | Not applicable |
| Interest acquired | Not applicable |
| Interest disposed | Not applicable |
| Interest after change | Not applicable |
| Part 3 - +Closed period | |
| If prior written clearance was provided, on what date was this provided? | Not applicable |
| Initial notification/Amendment | Initial |
| LEI | 213800NSPXSASTENFQ34 |
| Place of transaction | Australian Securities Exchange (ASX) |
Appendix 3Y
Change of Director's Interest Notice
Introduced 30/09/01 Amended 01/01/11
Name of entity SOVEREIGN METALS LIMITED
ABN 71 120 833 427
| Name of Director | Nigel Jones |
| Date of last notice | 24 November 2023 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Indirect |
| Date of change | 31 October 2025 |
| No. of securities held prior to change | (a) 225,000 (b) 300,000 (c) 100,000 (d) 150,000 |
| Class | (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 | Nil |
| Number disposed | (b) (300,000) |
| No. of securities held after change | (a) 225,000 (b) - (c) 100,000 (d) 150,000 (e) |
| Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back | Expiry of Performance Rights without exercise or conversion |
| Part 2 - Change of director's interests in contracts | |
| Detail of contract | Not applicable |
| Nature of interest | Not applicable |
| Name of registered holder (if issued securities) | Not applicable |
| Date of change | Not applicable |
| Interest acquired | Not applicable |
| Interest disposed | Not applicable |
| Interest after change | Not applicable |
| Part 3 - +Closed period | |
| If prior written clearance was provided, on what date was this provided? | Not applicable |
| Initial notification/Amendment | Initial |
| LEI | 213800NSPXSASTENFQ34 |
| Place of transaction | Australian Securities Exchange (ASX) |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.