Issue of Performance Rights
In brief · summary, not quotable
Company issued 8,650,000 unlisted performance rights to Directors following shareholder approval.
- Performance rights issued - Bankable Definitive Feasibility Study Milestone 3,600,000
- Performance rights issued - Construction and Finance Milestone 5,050,000
- Total ordinary shares on issue 646,938,703
- Total performance rights on issue after 28,475,000
Full announcement
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Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX:SVMLF) (Sovereign or the Company) advises that it has today issued 8,650,000 unlisted performance rights to Directors following shareholder approval as follows:
- 3,600,000 unlisted performance rights subject to the "Bankable Definitive Feasibility Study Milestone" expiring on or before 30 June 2026; and
- 5,050,000 performance rights subject to the "Construction and Finance Milestone" that have no exercise price and expire 30 June 2028.
Following the issue 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 (expected to lapse unvested);
- 6,190,000 unlisted performance rights subject to the "Final Investment Decision Milestone" expiring on or before 30 June 2026 (expected to lapse unvested);
- 9,022,500 unlisted performance rights subject to the "Bankable Definitive Feasibility Study Milestone" expiring on or before 30 June 2026; and
- 13,262,500 performance rights subject to the "Construction and Finance Milestone" that have no exercise price and expire 30 June 2028.
Change of Directors' Interest Notices are 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 | 31 October 2025 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Direct and Indirect |
| Date of change | 18 February 2026 |
| No. of securities held prior to change | (a) 4,190,000 (b) 650,000 (c) 900,000 (d) - (e) - |
| Class | (a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
| Number acquired | (d) 900,000 (e) 1,550,000 |
| Number disposed | Nil |
| No. of securities held after change | (a) 4,190,000 (b) 650,000 (c) 900,000 (d) 900,000 (e) 1,550,000 |
| 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 | |
| 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 | Outside a trading venue |
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 | 31 October 2025 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Direct |
| Date of change | 18 February 2026 |
| No. of securities held prior to change | (a) 500,000 (b) 800,000 (c) 1,100,000 (d) - (e) - |
| Class | (a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
| Number acquired | (d) 1,500,000 (e) 2,000,000 |
| Number disposed | Nil |
| No. of securities held after change | (a) 500,000 (b) 800,000 (c) 1,100,000 (d) 1,500,000 (e) 2,000,000 |
| 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 | |
| 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 | Outside a trading venue |
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 | 31 October 2025 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Indirect |
| Date of change | 18 February 2026 |
| No. of securities held prior to change | (a) 13,557,518 (b) - (c) - |
| Class | (a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (c) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
| Number acquired | (b) 600,000 (c) 600,000 |
| Number disposed | Nil |
| No. of securities held after change | (a) 13,557,518 (b) 600,000 (c) 600,000 |
| 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 | |
| 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 | Outside a trading venue |
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 | 31 October 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 director and beneficial interest) |
| Date of change | 18 February 2026 |
| No. of securities held prior to change | (a) 4,161,151 (b) 250,000 (c) 400,000 (d) - (e) - |
| Class | (a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
| Number acquired | (d) 300,000 (e) 650,000 |
| Number disposed | Nil |
| No. of securities held after change | (a) 4,161,151 (b) 250,000 (c) 400,000 (d) 300,000 (e) 650,000 |
| 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 | |
| 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 | Outside a trading venue |
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 | 31 October 2025 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Direct and Indirect |
| Date of change | 18 February 2026 |
| No. of securities held prior to change | (a) 225,000 (b) 100,000 (c) 150,000 |
| Class | (a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
| Number acquired | (d) 300,000 (e) 250,000 |
| Number disposed | Nil |
| No. of securities held after change | (a) 225,000 (b) 100,000 (c) 150,000 (d) 300,000 (e) 250,000 |
| 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 | |
| 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 | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.