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#SVML Sovereign Metals LTD – Result of Meeting
A General Meeting (AGM) of Sovereign Metals Limited (Company) (ASX:SVM, AIM:SVML, OTCQX:SVMLF) was held today, 12 September 2024, at 10.00am (AWST).
The resolutions voted on were in accordance with the Notice of Meeting previously advised to the Australian Securities Exchange (ASX) and shareholders. All resolutions were decided on and carried by way of poll.
In accordance with Section 251AA of the Corporations Act 2001 and ASX Listing Rule 3.13.2, the details of the poll and proxies received in respect of each resolution are set out below.
Classification 3.1 Additional regulated information required to be disclosed under the laws of a Member State
ENQUIRIES
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Dylan Browne Company Secretary info@sovereignmetals.com |
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Nominated Adviser on AIM and Joint Broker |
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SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
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Ewan Leggat Charlie Bouverat |
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Joint Brokers |
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Stifel |
+44 20 7710 7600 |
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Varun Talwar |
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Ashton Clanfield |
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Berenberg |
+44 20 3207 7800 |
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Matthew Armitt |
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Jennifer Lee |
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Buchanan |
+ 44 20 7466 5000 |
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Resolution |
Number of Proxy Votes |
Number and Percentage of Votes cast on the Poll |
Voting Method and Result |
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For |
Against |
Abstain |
Proxy’s Discretion |
For |
Against |
Abstain |
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1. Issue of Advisory Shares |
33,758,103 |
49,000 |
– |
2,233,818 |
49,649,439 |
49,000 |
– |
Carried on vote by poll |
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2. Issue of Performance Rights to a Director – Mr Benjamin Stoikovich |
8,211,814 |
1,771,219 |
23,824,070 |
2,233,818 |
10,545,632 |
1,771,219 |
37,381,588 |
Carried on vote by poll |
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3. Issue of Performance Rights to a Director – Mr Frank Eagar |
8,744,733 |
1,771,219 |
23,291,151 |
2,233,818 |
11,078,551 |
1,771,219 |
36,848,669 |
Carried on vote by poll |
#GRX GreenX Metals LTD – Major Shareholding
TR-1: Standard form for notification of major holdings
GreenX Metals was informed that CD CAPITAL NATURAL RESOURCES FUND III (MASTER) L.P. increased it’s stake from 16.39% to 18.10% and now holds 50,487,925 shares in the company
#GRX GreenX Metals LTD – Issue of Shares on Conversion of Convertible Note
GreenX Metals Limited (ASX:GRX, LSE:GRX) (GreenX or the Company) advises that it has issued 5,711,805 ordinary fully paid shares (Shares) upon the conversion of a convertible loan note that had a principal amount of A$2,627,430 (Convertible Note).
An application will be made for admission of the Shares to the standard listing segment of the Official List of the FCA (Official List) and to trading on the main market of the London Stock Exchange for listed securities (LSE Admission). LSE Admission is expected to take place on or before 31 May 2024.
For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (DTRs), following LSE Admission, the Company’s issued ordinary share capital will be 278,901,032 ordinary shares. The above figure of 278,901,032 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company following LSE Admission
Following the issue of Shares, GreenX has the following securities on issue:
· 278,901,032 ordinary fully paid shares;
· 4,775,000 unlisted options exercisable at A$0.45 each on or before 30 November 2025;
· 5,525,000 unlisted options exercisable at A$0.55 each on or before 30 November 2026; and
· 11,000,000 performance rights that have an expiry date 8 October 2026;
Classification: 2.2 Inside Information
2.5 Total number of voting rights and capital
Enquiries:
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GreenX Metals Limited |
Tel: +61 8 9322 6322 |
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Dylan Browne, Company Secretary |
Email: info@greenxmetals.com |
#KAV Kavango Resources PLC – Notice of General Meeting
Kavango Resources plc (LSE:KAV), the Southern Africa-focused metals exploration company, is pleased to announce that it will today post a copy of a notice of general meeting (the “General Meeting Notice” or “Circular”) and form of proxy for the general meeting to shareholders. The general meeting is to be held at 11 a.m. on 25 October 2023 at the offices of the Company’s Solicitors, Druces LLP, Salisbury House, London Wall, London EC2M 5PS (the “General Meeting”). The Company will also make these documents available to download from the Company’s website (www.kavangoresources.com).
In accordance with Listing Rule 14.3.6 of the UK Financial Conduct Authority (“FCA”), a copy of the General Meeting Notice will be submitted to the FCA via the National Storage Mechanism and will shortly be available to the public for inspection at:
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
Background
The General Meeting Notice will be published and posted to shareholders today, together with a form of proxy, providing notification of the General Meeting to consider the resolutions set out below.
Resolutions have been tabled to (i) seek approval from independent shareholders of a waiver in accordance with Rule 9 of the Takeover Code (Whitewash) in relation to the Stage 2 Subscription (as announced on 09 May 2023), (ii) issue and allot, or grant rights to subscribe for or convert any securities into the Stage 2 Subscription Shares, and to (iii) allot equity securities (as defined in section 560(1) of the Companies Act 2006) for cash in respect of the Stage 2 Subscription Shares on a non-premptive basis.
Further information in respect of Kavango and its business interests is provided on the Company’s website at www.kavangoresources.com and on X (formerly known as Twitter) at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
+46 7697 406 06
First Equity (Broker)
+44 207 374 2212
Jason Robertson
#SVML Sovereign Metals Ltd – Expiry of Unlisted Options
Sovereign Metals Limited (Sovereign or the Company) (ASX:SVM, AIM:SVML) advises that 11,105,125 unlisted options exercisable at A$0.80 each expired on 13 May 2023.
Following the expiry of unlisted options, Sovereign has the following securities on issue:
· 470,875,023 ordinary fully paid shares;
· 6,100,000 unlisted performance rights subject to the “Pre-Feasibility Study Announcement Milestone” expiring on 30 September 2023; and
· 8,260,000 unlisted performance rights subject to the “Feasibility Study Announcement Milestone” expiring on 31 October 2025.
Classification: 2.5 Total number of voting rights and capital.
ENQUIRIES
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Dylan Browne +61(8) 9322 6322 |
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Nominated Adviser on AIM |
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RFC Ambrian |
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Andrew Thomson |
+61 8 9480 2500 |
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Joint Brokers |
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Berenberg |
+44 20 3207 7800 |
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Matthew Armitt |
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Jennifer Lee |
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Optiva Securities |
+44 20 3137 1902 |
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Daniel Ingram |
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Mariela Jaho |
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Christian Dennis |
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#SVML Sovereign Metals PLC – Kasiya Indicated Resource Increased By Over 80%
· Kasiya Indicated Resource now stands at 1.2 Billion tonnes at 1.0% rutile and 1.5% graphite
· Updated Mineral Resource Estimate (MRE) moves over 0.5 Billion tonnes from Inferred to Indicated – an increase of 81% to the Indicated category
· Over 66% of total MRE now in the Indicated category
· Kasiya’s global MRE over 1.8 Billion tonnes at 1.0% rutile and 1.4% graphite
· Kasiya remains the world’s largest natural rutile deposit and second largest flake graphite deposit
· Updated MRE to underpin the mining inventory and mine plan for the forthcoming Pre-feasibility Study (PFS)
Sovereign’s Managing Director Dr Julian Stephens commented: “The increase of over 80% in the Indicated component at a one-for-one conversion from Inferred is an outstanding outcome. The conversion rate confirms the very consistent geological and grade continuity and is testament to the high-quality and robustness of the deposit. Kasiya is poised to become a major long-term supplier of the critical minerals natural rutile and graphite, with both forecast to be in near-term and significant supply deficit. The PFS work program on this highly strategic and globally significant project is progressing well and approaching its final stages. The Company is looking forward to presenting the outcomes of the PFS in the coming months.”
ENQUIRIES
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Dr Julian Stephens (Perth) +61(8) 9322 6322 |
Sam Cordin (Perth) |
Sapan Ghai (London)
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Nominated Adviser on AIM |
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RFC Ambrian |
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Andrew Thomson |
+61 8 9480 2500 |
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Joint Brokers |
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Berenberg |
+44 20 3207 7800 |
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Matthew Armitt |
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Jennifer Lee |
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Optiva Securities |
+44 20 3137 1902 |
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Daniel Ingrams |
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Mariela Jaho |
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Christian Dennis |
Read further announcement here
#SVML Sovereign Metals Ltd – ASX Trading Halt Update
Sovereign Metals Limited (ASX:SVM; AIM:SVML) (“Sovereign” or the “Company”) announced on 27 January 2023 that following movements in its share price on the Australian Securities Exchange (“ASX”)and a price query from ASX, the Company’s ordinary shares were placed in a trading halt on the ASX. The ASX has informed Sovereign that the trading halt has been lifted and trading of the Company’s ordinary shares has resumed on the ASX.
The trading halt did not affect trading in the Company’s shares on the AIM market of the London Stock Exchange plc, where normal trade continued.
In response to the ASX price query dated 27 January 2023 regarding an increase in the Company’s share price and in the volume of trading securities, the Company noted that it is not aware of any information that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company, however it does note that:
(a) On 26 January 2023, Mkango Resources Limited (AIM/TSX-V: MKA) (“Mkango”) announced the receipt of Environmental Social Health Impact Assessment (“ESHIA”) approval from the Malawi Environmental Protection Authority (“MEPA”) for their Songwe Hill Rare Earths Project. The approval of the ESHIA is a significant milestone in the Mining Development Agreement (“MDA”) approvals process as it is fundamental requirement for obtaining a mining licence in Malawi.
(b) On 7 December 2022, the Company announced that the Company is to demerge its standalone Graphite Projects (being the Nanzeka, Malingunde, Duwi and Mabuwa Projects) into a wholly owned subsidiary, NGX Limited (“Demerger”). The Company expects to publish a Notice of Meeting for the Demerger in the coming weeks.
(c) In September 2022, the Company completed a 6,865 metre, 438-hole air-core and push-tube infill mineral resource drilling program at Kasiya Rutile Project (“Kasiya”). The infill drilling results from this program are consistent with previous announced drilling results (refer to announcements dated 08/09/2022 and 26/10/2022) and are confirmatory of these previous infill results released to the market. An updated Kasiya Mineral Resource Estimate is targeted for completion in Q1 2023.
The final infill drill hole was completed on 16/09/2022. The final batch of infill drill hole samples was sent to Australian laboratories on 9/11/2022. The final batch of assay results was received by the Company on 8/12/2022 but as stated above the results from the program are consistent with previous announced drilling results.
In any event, the Company has released the infill assay results following a request from ASX (see announcement entitled ‘Kasiya Resource Infill Drilling Results’ dated 30 January 2023).
The Company has strict procedures to maintain confidentiality of assay results with two directors and two senior management employees only having access to drill results prior to announcement drafting and circulation to the board for final approval.
The Company expects that its shares will trade as normal on ASX from opening of trade on 31 January 2023. Trading will continue as normal on the AIM market.
ENQUIRIES
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Dylan Browne +61(8) 9322 6322 |
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Nominated Adviser on AIM |
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RFC Ambrian |
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Bhavesh Patel / Andrew Thomson |
+44 20 3440 6800 |
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Joint Brokers |
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Berenberg |
+44 20 3207 7800 |
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Matthew Armitt |
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Jennifer Lee |
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Optiva Securities |
+44 20 3137 1902 |
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Daniel Ingram |
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Mariela Jaho |
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Christian Dennis |
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