Salt Lake Potash Limited Issue of Performance Rights (7188I)

TIDMSO4

RNS Number : 7188I

Salt Lake Potash Limited

21 June 2017

 
 21 June 2017   AIM/ASX Code: SO4 
 
 
   SALT LAKE POTASH LIMITED 
  Issue of Performance Rights 
----------------------------- 
 

Salt Lake Potash Limited ("the Company") advises that it has today granted 1,000,000 performance rights to a key employee pursuant to the Salt Lake Potash Limited Performance Rights Plan, which was approved by shareholders at the Company's Annual General Meeting ("AGM") on 30 November 2016. The Performance Rights issued are subject to various performance conditions (including Pre-Feasibility Study, Definitive Feasibility Study, Project Construction and Production milestones) to be satisfied prior to the relevant expiry dates between 30 June 2018 and 30 June 2021.

The individual award to a Person Discharging Managerial Responsibilities ("PDMR"), which entitles the recipient to acquire Salt Lake Potash ordinary shares at nil cost, was as follows:

 
 PDMR              Number of performance rights granted 
 Will Longworth    1,000,000 
 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

For further information please visit www.saltlakepotash.com.au or contact:

 
 Sam Cordin                                   Salt Lake Potash Limited                    Tel: [phone] 
 Colin Aaronson/Richard Tonthat/Daniel Bush   Grant Thornton UK LLP (Nominated Adviser)   Tel: [phone] 
 Nick Tulloch/Beth McKiernan                  Cenkos Securities plc (Broker)              Tel: [phone] 
 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
---  -------------------------------------------------------------------------- 
 a)   Name                        Will Longworth 
---  --------------------------  ---------------------------------------------- 
 2    Reason for the notification 
---  -------------------------------------------------------------------------- 
 a)   Position/status             Chief Operating Officer 
---  --------------------------  ---------------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
---  --------------------------  ---------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
---  -------------------------------------------------------------------------- 
 a)   Name                        Salt Lake Potash Limited 
---  --------------------------  ---------------------------------------------- 
 b)   LEI                         213800ZYZHFUDQ784B24 
---  --------------------------  ---------------------------------------------- 
 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          Performance Rights 
       financial instrument, 
       type of instrument 
                                   Rights when exercised will result 
       Identification code         in the issue of Salt lake Potash 
                                   Limited ordinary shares with ISIN 
                                   AU000000SO44 
---  --------------------------  ---------------------------------------------- 
 b)   Nature of the transaction   Grant of Performance Rights pursuant 
                                   to the Salt Lake Potash Limited Performance 
                                   Rights Plan. 
---  --------------------------  ---------------------------------------------- 
 c)   Price(s) and volume(s)             Price(s)    Volume(s) 
                                         ----------  ---------- 
                                          Nil (1)     1,000,000 
                                         ----------  ---------- 
 
 
                                         1. Nil - Performance Rights are part 
                                         of remuneration arrangements and 
                                         are subject to the achievement of 
                                         various performance related milestones 
                                         as set out in the notice of Annual 
                                         General Meeting held on 30 November 
                                         2016. 
---  --------------------------  ---------------------------------------------- 
 d)   Aggregated information 
 
 
       - Aggregated volume 
 
 
       - Price 
---  --------------------------  ---------------------------------------------- 
 e)   Date of the transaction     21 June 2017 
---  --------------------------  ---------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
---  --------------------------  ---------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 21, 2017 04:45 ET (08:45 GMT)