TIDMGGP
RNS Number : 2176N
Greatland Gold PLC
28 January 2021
28 January 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. 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")
Exercise of Options and Extension of Options
Greatland Gold plc (AIM:GGP), the precious and base metals
exploration and development company, announces the exercise of
share options by employees , and the extension of the expiry date
for certain previously granted director options.
The Company has received binding option exercise notices from
employees, who are not Directors or PDMRs, for 12,500,000 options
at various exercise prices (detailed below) for a total amount of
GBP292,500.
Director/Employee Position Number Exercise Shares to
of Options Price be issued
Key employees Various Positions 5,000,000 2.5p 5,000,000
5,000,000 3.0p 5,000,000
2,500,000 0.7p 2,500,000
--------------------------------------- ------------ --------- -----------
As a result of these option conversions, 12,500,000 new ordinary
shares are expected to be admitted to trading on or around 4
February 2021 ("Admission").
Following Admission the total issued share capital of the
Company will consist of 3,891,165,546 ordinary shares. As such the
total number of voting rights in the Company will be 3,891,165,546
ordinary shares. This number may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure and
Transparency Rules.
In addition, the Company announces the extension of the expiry
date of the following performance share options previously granted
to Mr Alex Borrelli, Non-Executive Chairman (the "Extension").
Director Number of Exercise Previous Expiry New
Options Price Date Expiry Date
Alex Borrelli 25,000,000 0.2p 20 April 2021 20 April 2022
7,500,000 0.7p 16 February 16 February
2021 2022
----------- --------- ---------------- --------------
Related Party Opinion
The Extension is considered a related party transaction for the
purposes of the AIM Rules. The independent directors (being the
directors other than Alex Borrelli), having consulted with SPARK
Advisory Partners Limited, the Company's Nominated Adviser,
consider the terms of the Extension to be fair and reasonable
insofar as the Company's shareholders are concerned.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities / person closely associated
with them.
Extension of Options
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Alex Borrelli Chairman
Name
------------------------------- ------------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------
a) Position/status See 1(a) above for all positions
- all classified as PDMRs of the
Company
------------------------------- ------------------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------- ------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name Greatland Gold plc
------------------------------- ------------------------------------------------
b) LEI 213800KMN7LDF4VRPQ10
------------------------------- ------------------------------------------------
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 financial Ordinary Shares of 0.1 pence each
instrument
------------------------------- ------------------------------------------------
b) Identification code GB00B15XDH89
------------------------------- ------------------------------------------------
c) Nature of the transactions Extension of the expiry date of
performance share options
------------------------------- ------------------------------------------------
d) Price(s) and volume(s)
Number of Options Exercise New Expiry
Price Date
25,000,000 0.2p 20 April 2022
7,500,000 0.7p 16 February
2022
--------- --------------
------------------------------- ------------------------------------------------
e) Aggregated information N/A
- Aggregated volume
- Price
------------------------------- ------------------------------------------------
f) Date of the transactions 28 January 2021
------------------------------- ------------------------------------------------
f) Place of the transactions N/A
------------------------------- ------------------------------------------------
Enquiries:
Greatland Gold PLC
Gervaise Heddle/Callum Baxter
Tel: +44 (0)20 3709 4900
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Andrew Emmott/James Keeshan
Tel: +44 (0)20 3368 3550
Berenberg (Joint Corporate Broker and Financial Adviser)
Matthew Armitt/Jennifer Wyllie/Detlir Elezi
Tel: +44 (0)20 3207 7800
Hannam & Partners (Joint Corporate Broker and Financial
Adviser)
Andrew Chubb/Matt Hasson/Jay Ashfield
Tel: +44 (0)20 7907 8500
SI Capital Limited (Joint Broker)
Nick Emerson/Alan Gunn
Tel: +44 (0)14 8341 3500
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Alexis Gore/Joe Quinlan
Tel: +44 (0)20 7618 9100
Notes for Editors:
Greatland Gold plc is a London Stock Exchange AIM-listed
(AIM:GGP) natural resource exploration and development company with
a current focus on precious and base metals. The Company has six
main projects; four situated in Western Australia and two in
Tasmania.
In March 2019, Greatland signed a Farm-in Agreement with
Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest
Mining Limited (ASX:NCM), to explore and develop Greatland's
Havieron gold-copper deposit in the Paterson region of Western
Australia. The Havieron Project is operated by Newcrest under a
Joint Venture Agreement with Greatland Gold plc. Newcrest can earn
up to a 70% joint venture interest through total expenditure of
US$65 million and the completion of a series of exploration and
development milestones in a four-stage farm-in over a six year
period that commenced in March 2019. Newcrest may acquire an
additional 5% interest at the end of the farm-in period at fair
market value.
The Joint Venture Agreement includes tolling principles
reflecting the intention of the parties that, subject to a
successful exploration programme and feasibility study and a
positive decision to mine, the resulting joint venture mineralised
material will be processed at Telfer , located 45km west of
Havieron.
Greatland is seeking to identify large mineral deposits in areas
that have not been subject to extensive exploration previously. It
is widely recognised that the next generation of large deposits
will come from such under-explored areas and Greatland is applying
advanced exploration techniques to investigate a number of
carefully selected targets within its focused licence
portfolio.
The Company is also actively investigating a range of new
opportunities in precious and strategic metals and will update the
market on new opportunities as and when appropriate.
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END
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January 28, 2021 06:02 ET (11:02 GMT)
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