SOVEREIGN METALS LIMITED
NEWS RELEASE I 12 APRIL
2024
ISSUE OF PERFORMANCE RIGHTS
The Company has today issued
1,450,000 unlisted performance rights to key staff (not PDMRs) as
part of their incentive remuneration as follows:
· 550,000 unlisted performance rights subject to the "Definitive
Feasibility Study Milestone" expiring on or before 31 October
2025;
·
600,000 performance rights
subject to the "Grant of Mining Licence Milestone" that have no
exercise price and expire 31 March 2026; and
· 300,000 performance rights subject to the "Final Investment
Decision Milestone" that have no exercise price and expire 30 June
2026.
Following the issue of these
performance rights, the Company has the following securities on
issue:
· 563,003,401 fully paid ordinary shares of no par value each in
the Company;
· 34,549,598 unlisted options exercisable at A$0.535 each on or
before 21 July 2024;
·
9,660,000 unlisted performance
rights subject to the "Definitive Feasibility Study Milestone"
expiring on or before 31 October 2025;
· 3,750,000 unlisted performance rights subject to the "Grant of
Mining Licence Milestone" that have no exercise price and expire 31
March 2026; and
· 4,450,000 unlisted performance rights subject to the "Final
Investment Decision Milestone" that have no exercise price and
expire 30 June 2026.
ENQUIRIES
Dylan Browne
Company Secretary
+61(8) 9322 6322
info@sovereignmetals.com
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Nominated Adviser on AIM and
Joint Broker
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SP Angel Corporate Finance
LLP
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+44 20 3470 0470
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Ewan Leggat
Charlie Bouverat
Harry Davies-Ball
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Joint
Brokers
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Stifel
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+44 20 7710 7600
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Varun Talwar
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Ashton Clanfield
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Berenberg
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+44 20 3207 7800
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Matthew Armitt
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Jennifer Lee
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Buchanan
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+ 44 20 7466 5000
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