TIDMGGP
RNS Number : 0787Z
Greatland Gold PLC
12 September 2022
12 September 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK MARKET ABUSE REGULATIONS. ON PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION
IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Greatland Gold plc
("Greatland" or "the Company")
Grant of Co-Investment Options and Share Options
PDMR dealing notifications
Greatland Gold plc (AIM:GGP), a mining development and
exploration company with a focus on precious and base metals,
announces the grant of co-investment options to subscribe for new
ordinary shares in the Company to its proposed Directors, Mr Mark
Barnaba and Ms Elizabeth Gaines, and to Mr Paul Hallam, an existing
Non-Executive Director (together the "Co-Investment Options").
In addition, the Company has also granted Mr James 'Jimmy'
Wilson, a newly appointed Executive Director, options to subscribe
for 40,000,000 new ordinary shares in the Company under the
Company's employee share scheme ("Share Options").
Further details of the Co-Investment Options
The Co-Investment Options are a one-off equity incentive package
structured to align the interests of the Mr Barnaba, Ms Gaines and
Mr Hallam in delivering substantial growth in shareholder value for
the benefit of Greatland shareholders.
The Co-Investment Option structure has been designed to create
strong and immediate alignment with shareholders to deliver
substantial share price growth, with the option exercise price
being set at 45 per cent above the equity placement price announced
today.
The number of Co-Investment Options granted to Mr Barnaba, Ms
Gaines and Mr Hallam is as follows:
Name Role Number of Proportion of
shares under expanded capital
option if fully exercised*
Mark Barnaba Non-Executive Chairman** 100,000,000 1.79%
-------------------------- -------------- ---------------------
Non-Executive Director
Elizabeth Gaines and Deputy Chair** 55,000,000 0.98%
-------------------------- -------------- ---------------------
Paul Hallam Non-Executive Director 40,000,000 0.72%
-------------------------- -------------- ---------------------
(*) (Expanded capital calculated on basis of completion of Wyloo
share placement and exercise of all Wyloo warrants as announced on
12 September 2022; plus the conversion of all options outlined in
this announcement. The gross proceeds from the exercise of all the
above Co-Investment Options is) (c.GBP23m.)
(** From 1 January 2023)
The Key Terms of the Co-Investment Options are contained in the
following table:
Key Terms
Exercise Period Date of issue to 31 August 2026
-------------------------------------------------------
Exercise price 11.9 pence (representing a 45 per cent premium
to 8.2 pence which was the price at which equity
was issued in the recent placing announced on 24
August 2022 and a 46 per cent premium to the five-day
volume weighted average share price to 9 September
2022 )
-------------------------------------------------------
Vesting Vesting immediately upon granting
-------------------------------------------------------
Retention The intention is that the Co-Investment Options
are issued to align the interests of the individuals
with that of Greatland's shareholders. To give
effect to this intention, the parties agree to
discuss in good faith a retention arrangement of
three years in respect of the shares arising on
exercise
-------------------------------------------------------
Mr Wilson's 40,000,000 Share Options have been granted on
substantively the same terms as the Co-Investment Options.
Related Party Opinion
As Paul Hallam and James Wilson are both existing directors, the
granting of the Co-Investment Options and Share Options are
considered related party transactions for the purposes of the AIM
Rules. The independent directors (being the directors other than
Paul Hallam and James Wilson), having consulted with SPARK Advisory
Partners Limited, the Company's Nominated Adviser, consider the
terms of the Co-Investment Options and Share Options to be fair and
reasonable insofar as the Company's shareholders are concerned.
The PDMR dealing notifications at the end of this announcement
are made in accordance with the requirements of the UK Market Abuse
Regulation.
Enquiries:
Greatland Gold PLC info@greatlandgold.com
Shaun Day www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated
Adviser)
Andrew Emmott/James Keeshan +44 (0)20 3368 3550
Berenberg (Joint Corporate Broker and Financial
Adviser)
Matthew Armitt/ Jennifer Lee/ Jack Botros +44 (0)20 3207 7800
Canaccord Genuity (Joint Corporate Broker
and Financial Adviser)
James Asensio/Patrick Dolaghan +44 (0)20 7523 8000
Hannam & Partners (Joint Corporate Broker
and Financial Adviser)
Andrew Chubb/Matt Hasson/Jay Ashfield +44 (0)20 7907 8500
SI Capital Limited (Joint Broker)
Nick Emerson/Sam Lomanto +44 (0)14 8341 3500
Gracechurch Group (Media and Investor Relations)
Harry Chathli/Alexis Gore/Tan Siddique +44 (0)20 3488 7510
PDMR dealing notifications
Details of the person discharging managerial responsibilities/person
1. closely associated
a) Company directors/officers:
Paul Hallam Non-Executive Director
Name -----------------------
James Wilson Executive Director
-----------------------
------------------------------- --------------------------------------------------------------
Reason for the notification
2.
-----------------------------------------------------------------------------------------------
a) Position/status See 1(a) above for all positions - all classified
as PDMRs of the Company
------------------------------- --------------------------------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------- --------------------------------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------------
a) Name Greatland Gold plc
------------------------------- --------------------------------------------------------------
b) LEI 213800KMN7LDF4VRPQ10
------------------------------- --------------------------------------------------------------
Details of the transaction(s): section to be repeated
4. 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 Options over Ordinary Shares of 0.1p each
of the financial
instrument
------------------------------- --------------------------------------------------------------
b) Identification GB00B15XDH89
code
------------------------------- --------------------------------------------------------------
c) Nature of Grant of options over Ordinary Shares
the transactions
------------------------------- --------------------------------------------------------------
d) Price(s) Price at grant: Nil
and volume(s) Exercise Price: 11.9 pence per Ordinary Share
Volume(s)
Name Date Transaction Amount Price
Type
Paul 12 September Co-Investment 40,000,000 11.9p
Hallam 2022 Options each
------------- -------------- ----------- ------
James 12 September Share Options 40,000,000 11.9p
Wilson 2022 each
------------- -------------- ----------- ------
------------------------------- --------------------------------------------------------------
e) Aggregated n/a - single transaction
information
- Aggregated
volume
- Price
------------------------------- --------------------------------------------------------------
f) Date of the 12 September 2022
transactions
------------------------------- --------------------------------------------------------------
f) Place of Outside a trading venue
the transactions
------------------------------- --------------------------------------------------------------
Notes for Editors:
Greatland Gold plc (AIM:GGP) is a mining development and
exploration company with a focus on precious and base metals. The
Company's flagship asset is the potentially world class Havieron
gold-copper deposit in the Paterson region of Western Australia,
discovered by Greatland and presently under development through a
joint venture with Newcrest (the "JV"). Newcrest holds a joint
venture interest of 70% (30% Greatland).
Havieron is located approximately 45km east of Newcrest's Telfer
gold mine and, subject to positive feasibility study and decision
to mine, will leverage the existing infrastructure and processing
plant to significantly reduce the project's capital expenditure and
carbon impact for a low-risk and low-cost pathway to
development.
Construction is well advanced and continuing with the box cut
and decline to develop the Havieron deposit originally commenced in
February 2021. An extensive growth drilling programme continues at
Havieron with a view to further expanding the understanding and
scale of the ore body.
Greatland has a proven track record of discovery and exploration
success. It is pursuing the next generation of tier-one mineral
deposits by applying advanced exploration techniques in
under-explored regions. The Company is focused on safe, low-risk
jurisdictions and is strategically positioned in the highly
prospective Paterson region. Greatland has a total of six projects
across Australia with a focus on becoming a multi-commodity mining
company of significant scale.
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END
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September 12, 2022 02:53 ET (06:53 GMT)
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