RNS Number : 0608I
Trident Royalties PLC
25 March 2024

25 March 2024


Trident Royalties Plc


("Trident" or the "Company")


Director Share Purchase

The Company announces that Adam Davidson, Chief Executive Officer and Executive Director, has purchased 51,500 ordinary shares of £0.01 in the Company ("Ordinary Shares") on market at an average price of 34.24 pence per Ordinary Share.

Following this share purchase, Adam Davidson holds 551,150 Ordinary Shares representing 0.2% per cent of the Company's voting rights.

Further details are set out in the PDMR form 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.

Contact details:


Trident Royalties Plc

Adam Davidson / Richard Hughes


+1 (757) 208-5171 / +44 7967 589997

Grant Thornton (Nominated Adviser)

Colin Aaronson / Samantha Harrison / Enzo Aliaj


+44 020 7383 5100

Stifel Nicolaus Europe Limited (Joint Broker)

Callum Stewart / Ashton Clanfield


+44 20 7710 7600

Tamesis Partners LLP (Joint Broker)

Richard Greenfield


+44 20 3882 2868

Liberum Capital Limited (Joint Broker)

Scott Mathieson


+44 20 3100 2184

St Brides Partners Ltd (Financial PR & IR)

Susie Geliher


+44 20 7236 1177



Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them




Details of the person discharging managerial responsibilities / person closely associated



Adam Davidson


Reason for the notification



Chief Executive Officer & Executive Director


Initial notification/Amendment

Initial Notification


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor



Trident Royalties Plc





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


Description of the Financial instrument, type of instrument Identification code

Ordinary Shares of £0.01 each

ISIN: GB00BF7J2535


Nature of the transaction

Purchase of Ordinary Shares


Price(s) and volume(s)









Aggregated information

·Aggregated volume




34.24 pence


Date of the transaction

22 March 2024


Place of the transaction

London Stock Exchange's AIM Market (XLON)




** Ends **


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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