Trident Royalties PLC Share Awards to Directors and Management (2616Y)
02 Enero 2024 - 1:00AM
UK Regulatory
TIDMTRR
RNS Number : 2616Y
Trident Royalties PLC
02 January 2024
2 January 2024
Trident Royalties Plc
("Trident" or the "Company")
Share Awards to Directors and Management
The Company announces, that it has issued 349,206 Trident
ordinary shares of GBP0.01 ("Ordinary Shares") at a price of 33
pence per Ordinary Share to certain directors and members of the
management team as part of the 2023 bonus awards ("Bonus
Shares").
Included in the recipients of Bonus Shares are directors Adam
Davidson (Chief Executive Officer) and Richard Hughes (Chief
Financial officer) whose Bonus Shares are detailed below.
Director Director Shares Subsequent number Subsequent
Issued of Ordinary Shares Percentage of
held Issued share
capital
Adam Davidson 99,086 429,086 0.15%
---------------- -------------------- ---------------
Richard Hughes 76,960 876,960 0.30%
---------------- -------------------- ---------------
Further details of the share issues are set out in the PDMR
forms below made in accordance with the Market Abuse Regulation
(EU) No. 596/2014 which is part of UK law by virtue of the European
Union (Withdrawal) Act 2018..
Settlement and Dealings
Application has been made to the London Stock Exchange Plc for
admission to trading on AIM of the 349,206 Bonus Shares, which rank
pari passu with the Company's existing issued Ordinary Shares
("Admission"). Admission is expected to occur and Dealings on AIM
are expected to commence on or around 3 January 2024.
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission,
Trident will have 293,079,382 Ordinary Shares in issue with voting
rights attached. Trident does not hold any shares in treasury. This
figure of 293,079,382 may be used by shareholders in the Company as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in the Company, under the DTRs.
PDMR Notifications
Notification of Transactions of Persons Discharging Managerial
Responsibility and Persons Closely Associated with them:
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Adam Davidson
---------------------------------- -----------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a. Position/status Chief Executive Officer
---------------------------------- -----------------------------------------
b. Initial notification/Amendment Initial Notification
---------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a. Name Trident Royalties Plc
---------------------------------- -----------------------------------------
b. LEI 213800V6U8KJ7U2BV956
---------------------------------- -----------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------------
a. Description of the Financial Ordinary Shares of GBP0.01
instrument, type of instrument each
Identification code GB00BF7J2535
---------------------------------- -----------------------------------------
b. Nature of the transaction Award of shares pursuant to
the company's annual bonus arrangements
---------------------------------- -----------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
33p/share 99,086
----------
---------------------------------- -----------------------------------------
d. Aggregated information
* Aggregated volume N/A Single transaction
* Price
---------------------------------- -----------------------------------------
e. Date of the transaction 2 January 2024
---------------------------------- -----------------------------------------
f. Place of the transaction Outside a trading venue
---------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Richard Hughes
---------------------------------- -----------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a. Position/status Chief Financial Officer
---------------------------------- -----------------------------------------
b. Initial notification/Amendment Initial Notification
---------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a. Name Trident Royalties Plc
---------------------------------- -----------------------------------------
b. LEI 213800V6U8KJ7U2BV956
---------------------------------- -----------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------------
a. Description of the Financial Ordinary Shares of GBP0.01
instrument, type of instrument each
Identification code GB00BF7J2535
---------------------------------- -----------------------------------------
b. Nature of the transaction Award of shares pursuant to
the company's annual bonus arrangements
---------------------------------- -----------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
33p/share 76,960
----------
---------------------------------- -----------------------------------------
d. Aggregated information
* Aggregated volume N/A Single transaction
* Price
---------------------------------- -----------------------------------------
e. Date of the transaction 2 January 2024
---------------------------------- -----------------------------------------
f. Place of the transaction Outside a trading venue
---------------------------------- -----------------------------------------
** Ends **
Contact details:
Trident Royalties Plc www.tridentroyalties.com
Adam Davidson / Richard Hughes +1 (757) 208-5171 / +44 7967
589997
Grant Thornton (Nominated Adviser) www.grantthornton.co.uk
Colin Aaronson / Samantha Harrison +44 020 7383 5100
/ Enzo Aliaj
------------------------------
Liberum Capital Limited (Joint Broker) www.liberum.com
Scott Mathieson / Cara Murphy +44 20 3100 2184
------------------------------
Stifel Nicolaus Europe Limited (Joint www.stifelinstitutional.com
Broker) +44 20 7710 7600
Callum Stewart / Ashton Clanfield
------------------------------
Tamesis Partners LLP (Joint Broker) www.tamesispartners.com
Richard Greenfield / Charlie Bendon +44 20 3882 2868
------------------------------
St Brides Partners Ltd (Financial www.stbridespartners.co.uk
PR & IR) +44 20 7236 1177
Susie Geliher / Zoe Briggs
------------------------------
About Trident
Trident is a growth-focused diversified mining royalty and
streaming company, providing investors with exposure to a mix of
base battery, precious, and bulk metals.
Key highlights of Trident's strategy include:
-- Building upon a royalty and streaming portfolio which broadly
mirrors the commodity exposure of the global mining sector
(excluding fossil fuels) with a bias towards production or
near-production assets, differentiating Trident from the
majority of peers which are exclusively, or heavily weighted,
to precious metals;
-- Acquiring royalties and streams in resource-friendly jurisdictions
worldwide, while most competitors have portfolios focused
on North and South America;
-- Targeting attractive small-to-mid size transactions which
are often ignored in a sector dominated by large players;
-- Active deal-sourcing which, in addition to writing new royalties
and streams, will focus on the acquisition of assets held
by natural sellers such as: closed-end funds, prospect generators,
junior and mid-tier miners holding royalties as non-core
assets, and counterparties seeking to monetise packages of
royalties and streams which are otherwise undervalued by
the market;
-- Maintaining a low-overhead model which is capable of supporting
a larger scale business without a commensurate increase in
operating costs; and
-- Leveraging the experience of management, the board of directors,
and Trident's adviser team, all of whom have deep industry
connections and strong transactional experience across multiple
commodities and jurisdictions.
The acquisition and aggregation of individual royalties and
streams is expected to deliver strong returns for shareholders as
assets are acquired on terms reflective of single asset risk
compared with the lower risk profile of a diversified, larger scale
portfolio. Further value is expected to be delivered by the
introduction of conservative levels of leverage through debt. Once
scale has been achieved, strong cash generation is expected to
support an attractive dividend policy, providing investors with a
desirable mix of inflation protection, growth and income.
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END
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