10
May 2024
Trident Royalties
Plc
("Trident"
or the "Company")
Chairman
Transition
Trident Royalties Plc (AIM: TRR,
OTC: TDTRF), announces that Al Gourley has requested to step down
from the Board of Directors with immediate effect, for personal
reasons. Peter Bacchus will assume the role as Chair of the Board.
The Board expresses its thanks to Al for his significant
contribution both as a Non-Executive Director and as Chairman and
wish him well with his future endeavours.
Peter Bacchus, Chairman of Trident
commented:
"On behalf of the entire Trident team, I would like to extend
my gratitude to Al for his significant contribution to the Company
during his four-year tenure on the board. Al's experience, energy
and enthusiasm for our business has been invaluable and I, along
with the whole board, would like to wish him every success in his
future endeavours.
"Over that period Trident has grown from a single royalty to
over 20 assets. I step into the Chairman role as that portfolio is
showing increasing maturity with the delivery of significant cash
flow in sight. With our new financing facility our balance sheet is
in a robust position and we are well placed to take advantage of
future opportunities."
The
information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 which is part of UK law by virtue of
the European Union (withdrawal) Act 2018. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
** Ends **
Contact details:
Trident Royalties Plc
Adam Davidson / Richard
Hughes
|
www.tridentroyalties.com
+1 (757)
208-5171 / +44 7967 589997
|
Grant Thornton (Nominated
Adviser)
Colin Aaronson / Samantha Harrison /
Enzo Aliaj
|
www.grantthornton.co.uk
+44 020
7383 5100
|
Liberum Capital Limited (Joint
Broker)
Scott Mathieson
|
www.liberum.com
+44 20
3100 2184
|
Stifel Nicolaus Europe Limited
(Joint Broker)
Callum Stewart / Ashton
Clanfield
|
www.stifelinstitutional.com
+44 20
7710 7600
|
Tamesis Partners LLP (Joint
Broker)
Richard Greenfield
|
www.tamesispartners.com
+44 20
3882 2868
|
St Brides Partners Ltd (Financial PR
& IR)
Susie Geliher / Charlotte
Page
|
www.stbridespartners.co.uk
+44 20
7236 1177
|
About Trident
Trident is a growth-focused
diversified mining royalty and streaming company, providing
investors with exposure to a mix of base battery, precious, and
bulk metals.
Key highlights of Trident's strategy
include:
·
|
Building upon a royalty and
streaming portfolio which broadly mirrors the commodity exposure of
the global mining sector (excluding fossil fuels) with a bias
towards production or near-production assets, differentiating
Trident from the majority of peers which are exclusively, or
heavily weighted, to precious metals;
|
·
|
Acquiring royalties and streams in
resource-friendly jurisdictions worldwide, while most competitors
have portfolios focused on North and South America;
|
·
|
Targeting attractive small-to-mid
size transactions which are often ignored in a sector dominated by
large players;
|
·
|
Active deal-sourcing which, in
addition to writing new royalties and streams, will focus on the
acquisition of assets held by natural sellers such as: closed-end
funds, prospect generators, junior and mid-tier miners holding
royalties as non-core assets, and counterparties seeking to
monetise packages of royalties and streams which are otherwise
undervalued by the market;
|
·
|
Maintaining a low-overhead model
which is capable of supporting a larger scale business without a
commensurate increase in operating costs; and
|
·
|
Leveraging the experience of
management, the board of directors, and Trident's adviser team, all
of whom have deep industry connections and strong transactional
experience across multiple commodities and
jurisdictions.
|
The acquisition and aggregation of
individual royalties and streams is expected to deliver strong
returns for shareholders as assets are acquired on terms reflective
of single asset risk compared with the lower risk profile of a
diversified, larger scale portfolio. Further value is expected to
be delivered by the introduction of conservative levels of leverage
through debt. Once scale has been achieved, strong cash generation
is expected to support an attractive dividend policy, providing
investors with a desirable mix of inflation protection, growth and
income.
Forward-looking
Statements
This news release contains forward‐looking information. The
statements are based on reasonable assumptions and expectations of
management and Trident provides no assurance that actual events
will meet management's expectations. In certain cases,
forward‐looking information may be identified by such terms as
"anticipates", "believes", "could", "estimates", "expects", "may",
"shall", "will", or "would". Although Trident believes the
expectations expressed in such forward‐looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those projected. Mining exploration and development
is an inherently risky business. In addition, factors that could
cause actual events to differ materially from the forward-looking
information stated herein include any factors which affect
decisions to pursue mineral exploration on the relevant property
and the ultimate exercise of option rights, which may include
changes in market conditions, changes in metal prices, general
economic and political conditions, environmental risks, and
community and non-governmental actions. Such factors will also
affect whether Trident will ultimately receive the benefits
anticipated pursuant to relevant agreements. This list is not
exhaustive of the factors that may affect any of the
forward‐looking statements. These and other factors should be
considered carefully and readers should not place undue reliance on
forward-looking information.
Third Party Information
As
a royalty and streaming company, Trident often has limited, if any,
access to non-public scientific and technical information in
respect of the properties underlying its portfolio of royalties and
investments, or such information is subject to confidentiality
provisions. As such, in preparing this announcement, the Company
often largely relies upon information provided by or the public
disclosures of the owners and operators of the properties
underlying its portfolio of royalties, as available at the date of
this announcement.