Gold prices slid below $4,000/oz amid profit-taking on Gaza ceasefire
JOHANNESBURG - Sylvania Platinum Limited (AIM:SLP), a PGM and chrome producer with operations in South Africa, announced Tuesday that directors, senior management, and employees have exercised rights over 692,000 ordinary shares following the vesting of deferred share awards granted in August 2022.
The company satisfied these exercises using ordinary shares held in treasury. To cover tax liabilities of PDMRs and employees, 256,050 ordinary shares were immediately repurchased by the company at the vesting price of 77.60 pence.
Additionally, the company repurchased 409,397 ordinary shares at 78.49 pence per share, representing the 30-day volume-weighted average price calculated as of September 26. This repurchase was conducted under plan rules that allow employees to request the company to buy back shares beyond the tax portion twice yearly.
All 665,447 repurchased shares are now held in treasury.
Among the directors exercising bonus shares were CEO Jaco Prinsloo, who exercised 64,000 shares and retained 35,200 after tax-related sales, and CFO Lewanne Carminati, who exercised 48,000 shares and retained 26,400. Senior management members Albert Jordaan, Ronel Bosman, and Alpheus Mothiba also participated in the exercise.
Following these transactions, Sylvania’s issued share capital stands at 271,661,725 ordinary shares, with 11,578,948 held in treasury. The total number of ordinary shares with voting rights is now 260,082,777.
This information was disclosed in a company press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.