Sylvania Platinum Limited Exercise of vested Bonus Shares (5218N)

TIDMSLP

RNS Number : 5218N

Sylvania Platinum Limited

30 September 2021 _____________________________________________________________________________________________________________________________

30 September 2021

Sylvania Platinum Limited

("Sylvania", the "Company" or the "Group")

Exercise of vested bonus shares

Sylvania (AIM: SLP) today announces that certain Directors, senior management and employees have exercised a total of 2,385,000 deferred share awards ("Bonus Shares") granted to them in August 2018 under the Sylvania Platinum Limited Bonus Share Award Plan, which have now vested. The exercise of the Bonus Shares was satisfied by shares currently held in Treasury.

1,066,850 of the Bonus Shares were immediately repurchased by the Company at the vesting price of 97.0 pence, in order to satisfy the tax liabilities of the PDMRs and employees. The repurchased shares are currently being held in Treasury.

A further 724,080 Ordinary Shares were repurchased by the Company at the 30-day VWAP of 91.7 pence, calculated at the close of business on 29 September 2021. All Ordinary Shares purchased by the Company have been placed in Treasury.

Of the total 2,385,000 Bonus Shares being exercised the following relate to Directors and senior management of the Company:

 
  Director      Bonus                      Shares sold                     B onus       Total      % of share capital 
               shares                                                      shares       shares     (Shares with voting 
                being                                                     retained    held after         rights) 
              exercised                                                                 event 
                          Sales for    P rice       Other     Price per 
                           tax and    per share     share       share 
                           dealing                  sales 
                            costs 
                         ----------  ----------  ----------  ---------- 
 Jaco 
  Prinsloo     275,000     123,750      97.0p         -           -        151,250    1 ,372,394          0.50% 
             ----------  ----------  ----------  ----------  ----------  ----------  -----------  -------------------- 
 Lewanne 
  Carminati    255,000     114,750      97.0p         -           -        140,250    1 ,244,331          0.46% 
             ----------  ----------  ----------  ----------  ----------  ----------  -----------  -------------------- 
 
 
     PDMR         Bonus                    Shares sold                    B onus     Total     % of share capital 
                 shares                                                   Shares     shares    (Shares with voting 
                  being                                                  retained     held           rights) 
                exercised                                                            after 
                                                                                     event 
                             Sales      P rice     Other     Price per 
                            for tax      per       share       share 
                              and       share      sales 
                            dealing 
                             costs 
                           ---------  ---------  ---------  ---------- 
 Albert 
  Jordaan       165 ,000     74,250     97.0p      70,000      91.7p      20,750    207,250           0.08% 
               ----------  ---------  ---------  ---------  ----------  ---------  ---------  --------------------

Following the above transaction, the Company's issued share capital amounts to 286,155,657 Ordinary Shares of which a total of 13,087,722 Ordinary Shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights in Sylvania is 273,067,935 Ordinary Shares.

CONTACT DETAILS

 
 For further information, please 
  contact: 
 Jaco Prinsloo CEO 
  Lewanne Carminati CFO               +27 11 673 1171 
 
 Nominated Adviser and Broker 
 Liberum Capital Limited              +44 (0) 20 3100 2000 
 Richard Crawley / Scott Mathieson 
  / Ed Phillips 
 
 Communications 
 Alma PR Limited                      +44 (0) 20 3405 0208 
 Justine James / Helena Bogle /       sylvania@almapr.co.uk 
  Josh Royston

CORPORATE INFORMATION

 
 Registered and postal    Sylvania Platinum Limited 
  address: 
                          Clarendon House 
                          2 Church Street 
                          Hamilton HM 11 
                          Bermuda 
 
 
   SA Operations postal     PO Box 976 
   address: 
                          Florida Hills, 1716 
                          South Africa

Sylvania Website : www.sylvaniaplatinum.com

This announcement is released by Sylvania Platinum Limited and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Jaco Prinsloo .

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.