Salt Lake Potash : Completion of Placement and Directors Subscription

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Salt Lake Potash Limited - SO4 Completion of Placement and Directors Subscription Released 07:38 07-Feb-2020

RNS Number : 3168C

Salt Lake Potash Limited

07 February 2020

7 February 2020

AIM/ASX Code: SO4

SALT LAKE POTASH LIMITED COMPLETION OF PLACEMENT AND DIRECTORS' SUBSCRIPTION

Salt Lake Potash Limited ('the Company') is pleased to announce that it has now completed the placement of 33.6 million new ordinary shares of the Company, to raise gross proceeds of A$23.5 million ('Placement'), first announced on 6 December 2020.

The second tranche of the Placement has been completed following shareholder approval at a General Meeting held on 29 January 2020. The issue comprised 678,571 ordinary shares of no par value at a price of A$0.70 per share, including 428,571 shares subscribed for by the CEO, Mr Tony Swiericzuk, and 250,000 shares by the Company's Chairman, Mr Ian Middlemas.

The Company has also issued 1 share to each holder (a total of 4 shares) of the 7,500,000 Class B Performance Shares that expired 31 December 2019, in accordance with the terms and conditions of the Performance Shares.

Application has been made to the AIM Market of the London Stock Exchange ('AIM') for the admission of the 678,575 Ordinary Shares, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading. Dealings on AIM are expected to commence at 8:00am on or around 12 February 2020 ('Admission').

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ('DTRs'), following Admission, Salt Lake will have 290,289,806 Ordinary Shares in issue with voting rights attached. Salt Lake holds no shares in treasury. This figure of 290,289,806 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 ASX Listing Rules or the DTRs.

Directors' interests

Following the issue of these shares, the directors will have the following interests in shares:

	Number of shares	Percentage of issued share capital
Ian Middlemas	12,000,000	4.13%
Tony Swiericzuk	1,647,210	0.57%

Mr Swiericzuk also holds an indirect interest in 5 million incentive options and 7,288,324 performance rights.

The Notifications below, made in accordance with the requirements of the EU Market Abuse Regulation provide additional information.

For further information please visitwww.so4.com.au or contact:

Tony Swierizcuk / Richard Knights	Salt Lake Potash Limited	Tel: [phone]
Colin Aaronson / Richard Tonthat / Seamus Fricker	Grant Thornton UK LLP (Nominated Adviser)	Tel: [phone]
Derrick Lee / Peter Lynch	Cenkos Securities plc (Joint Broker)	Tel: [phone]
Rupert Fane / Ernest Bell	Hannam & Partners (Joint Broker)	Tel: [phone]

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	Tony Swiericzuk
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Salt Lake Potash Limited
b)	LEI	213800WAVVOPS85N2205
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 instrument, type of instrument	Ordinary shares of no par value
Identification code	AU000000SO44
b)	Nature of the transaction	Subscription for cash in a placement by the Company
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		A$0.70	678,571
d)	Aggregated information
- Aggregated volume	Aggregate volume: 428,571 Aggregate price: 70 Australian cents Aggregate total: A$300,000
- Price
e)	Date of the transaction	7 February 2020
f)	Place of the transaction	Off market transaction

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ian Middlemas
2	Reason for the notification
a)	Position/status	Chairman
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Salt Lake Potash Limited
b)	LEI	213800WAVVOPS85N2205
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 instrument, type of instrument	Ordinary shares of no par value
Identification code	AU000000SO44
b)	Nature of the transaction	Subscription for cash in a placement by the Company
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		A$0.70	250,000
d)	Aggregated information
- Aggregated volume	Aggregate volume: 250,000 Aggregate price: 70 Australian cents Aggregate total: A$175,000
- Price
e)	Date of the transaction	7 February 2020
f)	Place of the transaction	Off market transaction

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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Completion of Placement and Directors Subscription - RNS