Bacanora Lithium PLC Transaction Notification (4146Q)

TIDMBCN

RNS Number : 4146Q

Bacanora Lithium PLC

18 June 2020

18 June 2020

Bacanora Lithium plc

("Bacanora" or the "Company")

Transaction Notification

Bacanora Lithium plc (AIM: BCN), a lithium exploration and development company, has received noti cation of the o -market transfer of a portion of the shares bene cially owned by Mark Hohnen, Executive Chairman of the Company. The transfer is ultimately to an existing superannuation pension fund of Mr Hohnen. After completion of the transfer, the ultimate beneficial ownership has not changed and Mr Hohnen's beneficial interest in the Company's shares remains at 2,514,951 representing 1.13 per cent. of the Company's current issued share capital.

 
 Notification of a Transaction pursuant to Article 19(1) of Regulation 
  (EU) No. 596/2014 
 1      Details of the person discharging managerial responsibilities/person 
         closely associated 
-----  ----------------------------------------------------------------------- 
 a.     Name                                             Mark Hohnen 
                                             --------------------------------- 
 2      Reason for notification 
       ------------------------------------  --------------------------------- 
 a.     Position/Status                       Executive Chairman 
       ------------------------------------  --------------------------------- 
 b.     Initial notification/                 Initial notification 
         Amendment 
       ------------------------------------  --------------------------------- 
 3      Details of the issuer, emission allowance market participant, 
         auction platform, auctioneer or auction monitor 
       ----------------------------------------------------------------------- 
 a.     Name                                  Bacanora Lithium plc 
       ------------------------------------ 
 b.     LEI                                   2138006JSN7VQUDINN66 
       ------------------------------------  --------------------------------- 
 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                        Ordinary shares of 10p 
         the financial 
         instrument, type                      GB00BD20C246 
         of instrument 
         Identification 
         Code 
       ------------------------------------  --------------------------------- 
 
 
 b.   Nature of the              Transfer of shares to a superannuation pension 
       transaction                fund with the same beneficial owner. 
                                  Transfer Date - 12 June 2020 
                                  Transferor - Fernan Pty Ltd 
                                  Transferee - Ben Hohnen 
                                  Transfer Date - 15 June 2020 
                                  Transferor - Ben Hohnen 
                                  Transferee - Vynben Pty Ltd (Mark Hohnen 
                                  Superannuation Fund) 
     ------------------------- 
 
 c.   Price(s) and volume(s)       Price(s) per                                     Volume(s) 
                                    share 
     -------------------------    ----------------------------------------------- 
                                   AUS$0.438                                        742,500 Shares 
                                  -----------------------------------------------  ----------------- 
 
 d.   Aggregated information 
       - Aggregated Volume         742,500 Ordinary Shares 
       - Price                     AUS$0.438 
     -------------------------  -------------------------------------------------------------------------- 
 e.   Date of the transaction    12 June and 15 June 2020 
     -------------------------  -------------------------------------------------------------------------- 
 f.   Place of the transaction   Off Market 
     -------------------------  -------------------------------------------------------------------------- 
 
 

** ENDS **

For further information please visit www.bacanoralithium.com or contact:

 
 Bacanora Lithium plc                  [e-mail] 
  Peter Secker, CEO 
  Janet Blas, CFO 
 Cairn Financial Advisers LLP, 
  Nomad 
  Sandy Jamieson / Liam Murray         [phone] 
 Citigroup Global Markets, 
  Joint Broker 
  Tom Reid / Patrick Evans / 
  Matthew Kenney                       [phone] 
 Canaccord Genuity, Joint Broker 
  James Asensio / Edward Montgomery    [phone] 
 Tavistock, Financial PR Adviser       [e-mail] 
  Jos Simson / Emily Moss /             [phone] 
  Oliver Lamb                           [phone] 
 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

Notes to editors

Bacanora Lithium Plc is an AIM-listed (ticker 'BCN') lithium development and exploration company. The Company owns assets in Mexico and Germany. It is focused on building, in collaboration with its major shareholder and offtake partner, Ganfeng Lithium (the world's largest lithium metals producer), a 35,000 tonne per annum open pit lithium carbonate operation at its flagship asset, the Sonora Lithium Project in Mexico. The Sonora Lithium Project has 8.8 million tonnes of lithium carbonate (Li(2) CO(3) ) equivalent resources, with an approximate 250 year resource life, as detailed in its December 2017 Feasibility Study.

Sonora Lithium Ltd ("SLL") is the operational holding company for the Sonora Lithium Project and owns 100% of the La Ventana concession. The La Ventana concession accounts for 88% of the mined ore feed in the Sonora Feasibility Study which covers the initial 19 years of the project mine life. SLL is owned 77.5% by Bacanora and 22.5% by Ganfeng Lithium Ltd. SLL also owns 70% of the El Sauz and Fleur concessions.

In addition, the Company has a 50% interest in the Zinnwald Lithium Project and the Falkenhain and Altenberg Licences in southern Saxony, Germany.

Important notice

The contents of this announcement have been prepared by and are the sole responsibility of Bacanora.

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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June 18, 2020 10:15 ET (14:15 GMT)