Conditional Grant of Share Options

Great Southern Copper PLC

06 October 2023

 

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.

06 October 2023

Great Southern Copper plc

("GSC" or the "Company")

Conditional Grant of Share Options

Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold and lithium exploration in Chile, announces that pursuant to its Share Option Plan 2023 ("2023 SOP"), as approved at the Company's Annual General Meeting, the Board has approved the conditional grant of 22.5 million share options priced at 1p to Directors and employees of the Company. The share options have been granted on the recommendation of the Remuneration Committee and are subject to the publication of a prospectus approved by the Financial Conduct Authority.

The share options have been conditionally granted as follows:

Name	Role	Number of options granted	Exercise price	Total options held post issue
Charles Bond	Chairman	2,500,000	1p	3,763,194
Sam Garrett	Chief Executive Officer	8,000,000	1p	10,021,111
Martin Page	Chief Financial Officer	5,000,000	1p	5,000,000
Nicholas Briers	Non-executive Director	1,500,000	1p	2,257,917
Stuart Greene	Non-executive Director	1,500,000	1p	2,257,917
Employees	Country Manager and geologists	4,000,000	1p	6,101,956

Conditional upon continuing employment with the Company, the options will vest in equal tranches over three years from grant: one third after 12 months, one third after 24 months and one third after 36 months. There are no other vesting conditions.

Following this award, and once the grant of these new options becomes unconditional, assuming no other share issuance other than the issue of 41,749,995 Ordinary 1p shares to be issued on the conversion of the Convertible Loan as announced in the fundraising announcement of 15 May 2023, the Company will have 29,402,094 share options in issue under the existing share option schemes, representing 9.9% of the existing issued share capital of the Company.

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	Charles Bond
2	Reason for the notification
a)	Position/status	Chairman
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Great Southern Copper plc
b)	LEI	213800RF6N9WA8PZH313
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 instrument, type of instrument Identification code	Ordinary shares of no par value GB00BLB5BF24
b)	Nature of the transaction	Award of option to purchase ordinary shares of the Company. Following the transaction, Mr Bond holds 3,763,194 options to purchase ordinary shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) 1p 2,500,000
d)	Aggregated information Aggregated volume -      Price	1p
e)	Date of the transaction	5 October 2023 Note: the Company is not considered in a close period at the time of this transaction.
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Sam Garrett
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Great Southern Copper plc
b)	LEI	213800RF6N9WA8PZH31
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 instrument, type of instrument Identification code	Ordinary shares of no par value GB00BLB5BF24
b)	Nature of the transaction	Award of option to purchase ordinary shares of the Company. Following the transaction, Mr Garrett holds 10,021,111 options to purchase ordinary shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) 1p 8,000,000
d)	Aggregated information Aggregated volume -      Price	1p
e)	Date of the transaction	5 October 2023 Note: the Company is not considered in a close period at the time of this transaction.
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Martin Page
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Great Southern Copper plc
b)	LEI	213800RF6N9WA8PZH31
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 instrument, type of instrument Identification code	Ordinary shares of no par value GB00BLB5BF24
b)	Nature of the transaction	Award of option to purchase ordinary shares of the Company. Following the transaction, Mr Page holds 5,000,000 options to purchase ordinary shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) 1p 5,000,000
d)	Aggregated information Aggregated volume -      Price	1p
e)	Date of the transaction	5 October 2023 Note: the Company is not considered in a close period at the time of this transaction.
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Nicholas Briers
2	Reason for the notification
a)	Position/status	Non-executive Director
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Great Southern Copper plc
b)	LEI	213800RF6N9WA8PZH31
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 instrument, type of instrument Identification code	Ordinary shares of no par value GB00BLB5BF24
b)	Nature of the transaction	Award of option to purchase ordinary shares of the Company. Following the transaction, Mr Briers holds 2,257,917 options to purchase ordinary shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) 1p 1,500,000
d)	Aggregated information Aggregated volume -      Price	1p
e)	Date of the transaction	5 October 2023 Note: the Company is not considered in a close period at the time of this transaction.
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Stuart Greene
2	Reason for the notification
a)	Position/status	Non-executive Director
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Great Southern Copper plc
b)	LEI	213800RF6N9WA8PZH31
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 instrument, type of instrument Identification code	Ordinary shares of no par value GB00BLB5BF24
b)	Nature of the transaction	Award of option to purchase ordinary shares of the Company. Following the transaction, Mr Greene holds 2,257,917 options to purchase ordinary shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) 1p 1,500,000
d)	Aggregated information Aggregated volume -      Price	1p
e)	Date of the transaction	5 October 2023 Note: the Company is not considered in a close period at the time of this transaction.
f)	Place of the transaction	Outside a trading venue

Contact Details:

Great Southern Copper plc
Sam Garrett, Chief Executive Officer	[phone]
SI Capital Limited
Nick Emerson	[phone]
Gracechurch Group
Harry Chathli, Alexis Gore, Henry Gamble	[phone]

Notes for Editors:

About Great Southern Copper

Great Southern Copper is a mineral exploration company focused on copper-gold and lithium deposits in Chile. The Company has the option to acquire rights to 100% of three projects that are prospective for large scale copper-gold deposits and lithium brine deposits. Chile is a globally significant mining jurisdiction being recognised as the world's largest copper producer and the second largest producer of lithium.

The three projects comprise the San Lorenzo and Especularita Cu-Au Projects, located in the central north of Chile, and the Monti Lithium Project located in the Salar de Atacama. The two early-stage Cu-Au exploration projects are within the same coastal metallogenic belt as other major deposits including Teck's Andacollo copper and gold mine. Significant historical smallscale and artisanal workings for both copper and gold are readily evident in both exploration project areas.

Great Southern Copper is strategically positioned to support the global market for copper and lihium, both key metals in the clean energy transition around the world. The Company is actively engaged in exploration and evaluation work programmes targeting both large tonnage, low to medium grade Cu-Au deposits as well as lithium brine and lithium clay-hosted deposits.

Further information on the Company is available on the Company's website: https://gscplc.com

 

END