Sovereign Metals Limited ASX Trading Halt (8745G)
April 01 2022 - 2:01AM
UK Regulatory
TIDMSVML
RNS Number : 8745G
Sovereign Metals Limited
01 April 2022
SOVEREIGN METALS LIMITED
NEWS RELEASE | 1 APRIL 2022
ASX Trading Halt
Sovereign Metals Limited (ASX:SVM; AIM:SVML) (Sovereign or the
Company) advises that today the Company requested an immediate
voluntary trading halt in its shares on the Australian Securities
Exchange (ASX), pending an announcement regarding an updated
Mineral Resource Estimate at Kasiya.
The Company has requested that the trading halt remain until the
earlier of an announcement to the market regarding the above or the
opening of trade on ASX on 5 April 2022.
Trading in the Company's ordinary securities will continue to
trade as normal on AIM during this period.
The Company also advises that, in accordance with the Company's
shareholder approved Employee Incentive Plan, the following
performance rights have been cancelled for no consideration
following cessation of employment with the Company:
-- 400,000 performance rights subject to the "Feasibility Study
Milestone" expiring on or before 31 December 2023; and
-- 650,000 performance rights subject to the "Decision to Mine
Milestone" expiring on or before 31 October 2025.
Following the cancellation, Sovereign has the following
securities on issue:
-- 432,433,755 ordinary fully paid ordinary shares;
-- 6,375,000 unlisted options exercisable at A$0.14 on or before 30 June 2022;
-- 2,000,000 unlisted options exercisable at A$0.18 on or before 30 June 2022;
-- 8,919,500 unlisted options exercisable at A$0.50 on or before 9 April 2022;
-- 2,500,000 unlisted options exercisable at A$0.18 on or before 31 July 2022;
-- 5,120,000 performance rights subject to the "Feasibility
Study Milestone" expiring on or before 31 December 2023; and
-- 7,320,000 performance rights subject to the "Decision to Mine
Milestone" expiring on or before 31 October 2025.
ENQUIRIES
Dr Julian Stephens (Perth) Sam Cordin (Perth) Sapan Ghai (London)
Managing Director +61(8) 9322 6322 +44 207 478 3900
+61(8) 9322 6322
Nominated Adviser on AIM
RFC Ambrian
Bhavesh Patel / Andrew Thomson +44 20 3440 6800
Joint Brokers
Berenberg +44 20 3207 7800
Matthew Armitt
Jennifer Lee
Varun Talwar
Optiva Securities +44 20 3137 1902
Daniel Ingrams
Mariela Jaho
Christian Dennis
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END
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April 01, 2022 02:01 ET (06:01 GMT)
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