TIDMTRR
RNS Number : 5585Y
Trident Royalties PLC.
17 January 2022
17 January 2022
Trident Royalties Plc
("Trident" or the "Company")
Share Awards and Non-executive Director Fees
The Company announces, as set out in the 2020 Annual Report,
that the Non-Executive Directors agreed to apply a portion of their
annual fees to the subscription for ordinary shares of the Company,
accordingly it has issued 126,070 Trident ordinary shares of
GBP0.01 ("Ordinary Shares") at a price of 37.02 pence per Ordinary
Share to certain directors as set out below ("Director
Shares").
Director Director Shares Subsequent number Percentage of
Issued of Ordinary Shares Issued share
held capital
Paul Smith 45,025 4,201,867 1.47%
---------------- -------------------- --------------
Albert Gourley 27,015 7,389,042 2.59%
---------------- -------------------- --------------
Peter Bacchus 27,015 202,015 0.07%
---------------- -------------------- --------------
Helen Pein 27,015 105,468 0.04%
---------------- -------------------- --------------
The Company has also issued 280,157 new Ordinary Shares to the
senior management team who have applied a portion of the annual
bonus awards approved by the Remuneration Committee and Company
Board to the subscription for Ordinary Shares.
Further details of the Share Awards granted are set out in the
PDMR forms below.
Settlement and Dealings
Application has been made to the London Stock Exchange Plc for
admission to trading on the AIM Market of the 406,227 Director and
Management 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 at
8:00am on 18 January 2022.
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission,
Trident will have 285,587,848 Ordinary Shares in issue with voting
rights attached. Trident does not hold any shares in treasury. This
figure of 285,587,848 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 Paul Smith
---------------------------------- ---------------------------------
2. Reason for the notification
---------------------------------------------------------------------
a. Position/status Non-executive Chairman
---------------------------------- ---------------------------------
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 each
instrument, type of instrument GB00BF7J2535
Identification code
---------------------------------- ---------------------------------
b. Nature of the transaction Subscription for Ordinary Shares
---------------------------------- ---------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
37.02p/share 45,025
----------
---------------------------------- ---------------------------------
d. Aggregated information
* Aggregated volume N/A Single transaction
* Price
---------------------------------- ---------------------------------
e. Date of the transaction 18 January 2022
---------------------------------- ---------------------------------
f. Place of the transaction Outside a trading venue
---------------------------------- ---------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Albert Gourley
---------------------------------- ---------------------------------
2. Reason for the notification
---------------------------------------------------------------------
a. Position/status Non-executive Director
---------------------------------- ---------------------------------
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 each
instrument, type of instrument GB00BF7J2535
Identification code
---------------------------------- ---------------------------------
b. Nature of the transaction Subscription for Ordinary Shares
---------------------------------- ---------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
37.02p/share 27,015
----------
---------------------------------- ---------------------------------
d. Aggregated information
* Aggregated volume N/A Single transaction
* Price
---------------------------------- ---------------------------------
e. Date of the transaction 18 January 2022
---------------------------------- ---------------------------------
f. Place of the transaction Outside a trading venue
---------------------------------- ---------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Peter Bacchus
---------------------------------- ---------------------------------
2. Reason for the notification
---------------------------------------------------------------------
a. Position/status Non-executive Director
---------------------------------- ---------------------------------
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 each
instrument, type of instrument GB00BF7J2535
Identification code
---------------------------------- ---------------------------------
b. Nature of the transaction Subscription for Ordinary Shares
---------------------------------- ---------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
37.02p/share 27,015
----------
---------------------------------- ---------------------------------
d. Aggregated information
* Aggregated volume N/A Single transaction
* Price
---------------------------------- ---------------------------------
e. Date of the transaction 18 January 2022
---------------------------------- ---------------------------------
f. Place of the transaction Outside a trading venue
---------------------------------- ---------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Helen Pein
---------------------------------- ---------------------------------
2. Reason for the notification
---------------------------------------------------------------------
a. Position/status Non-executive Director
---------------------------------- ---------------------------------
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 each
instrument, type of instrument GB00BF7J2535
Identification code
---------------------------------- ---------------------------------
b. Nature of the transaction Subscription for Ordinary Shares
---------------------------------- ---------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
37.02p/share 27,015
----------
---------------------------------- ---------------------------------
d. Aggregated information
* Aggregated volume N/A Single transaction
* Price
---------------------------------- ---------------------------------
e. Date of the transaction 18 January 2022
---------------------------------- ---------------------------------
f. Place of the transaction Outside a trading venue
---------------------------------- ---------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Martin Page
---------------------------------- -----------------------------------
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 Options over Ordinary Shares
instrument, type of instrument of GBP0.01 each
Identification code For Ordinary Shares: GB00BF7J2535
---------------------------------- -----------------------------------
b. Nature of the transaction Subscription for Ordinary Shares
---------------------------------- -----------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
37.02p/share 100,056
----------
---------------------------------- -----------------------------------
d. Aggregated information
* Aggregated volume N/A Single transaction
* Price
---------------------------------- -----------------------------------
e. Date of the transaction 18 January 2022
---------------------------------- -----------------------------------
f. Place of the transaction Outside a trading venue
---------------------------------- -----------------------------------
This information has been provided in accordance with Article
5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 which is
part of UK law by virtue of the European Union (Withdrawal) Act
2018.
** Ends **
Contact details:
Trident Royalties Plc www.tridentroyalties.com
Adam Davidson / Paul Smith +1 (757) 208-5171 / +41 79
947 1348
Grant Thornton (Nominated Adviser) www.grantthornton.co.uk
Colin Aaronson / Samantha Harrison +44 020 7383 5100
/ Samuel Littler
---------------------------------
Tamesis Partners LLP (Financial www.tamesispartners.com
Adviser and Broker) +44 203 882 2868
Richard Greenfield
---------------------------------
St Brides Partners Ltd (Financial www.stbridespartners.co.uk
PR & IR) +44 20 7236 1177
Susie Geliher / Catherine Leftley
---------------------------------
About Trident
Trident is a growth-focused, diversified mining royalty and
streaming company, providing investors with exposure to a mix of
base and precious metals, bulk materials (excluding thermal coal)
and battery metals.
Key highlights of Trident's strategy include:
-- Building a royalty and streaming portfolio to broadly mirror
the commodity exposure of the global mining sector (excluding
thermal coal) 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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