Exercise & Extension of Options, Director Dealings

RNS Number : 6508V

Greatland Gold PLC

09 April 2019

 

 

9 April 2019

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Greatland Gold plc

("Greatland" or "the Company")

Exercise of Options, Director Dealings, Extension of Options

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, announces the exercise of share options by directors and employees, the sale of shares by a director to partially cover the cost of an option exercise, and the extension of the expiry date for certain previously granted director options.

The Company has received binding option exercise notices from directors and employees for 90,500,000 options at various exercise prices (detailed below) for a total amount of £319,900.

Director/Employee	Position	Number of Options	Exercise Price	Shares to be issued
Gervaise Heddle	Chief Executive Officer	25,000,000	0.5p	25,000,000
Callum Baxter	Chief Technical Officer	25,000,000 28,000,000	0.2p 0.28p	25,000,000 28,000,000
Key employees	Various Positions	7,500,000 5,000,000	0.7p 0.28p	7,500,000 5,000,000

As a result of these option conversions, 90,500,000 new ordinary shares are expected to be admitted to trading on or around 16 April 2019 ("Admission").

Following Admission the total issued share capital of the Company will consist of 3,323,420,145 ordinary shares.  As such the total number of voting rights in the Company will be 3,323,420,145 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.

The Company has been notified that Gervaise Heddle, Chief Executive Officer, has sold 3,500,000 shares in the Company in order to partially cover the cost of exercise of the 25,000,000 options exercised by him as described above.

Following the exercise of options by directors (Gervaise Heddle and Callum Baxter) and the sale of shares by Gervaise Heddle, the resultant total directors' shareholdings and options are as follows:

Director	Position	Shares Held	Percentage of shares held	Options Held
Alex Borrelli	Chairman	13,000,000	0.39%	51,500,000
Gervaise Heddle	Chief Executive Officer	25,750,000	0.77%	73,500,000
Callum Baxter	Chief Technical Officer	77,572,951	2.33%	45,500,000
Clive Latcham	Non-Executive Director	Nil	Nil	10,000,000

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"). In consideration for a two-year extension of the expiry period on the options described below, the Board has agreed that no further options will be granted to Mr Borrelli for a period of two years from today's date.

Director	Number of Options	Exercise Price	Previous Expiry Date	New Expiry Date
Alex Borrelli	25,000,000 14,000,000	0.2p 0.28p	20 April 2019 18 July 2020	20 April 2021 18 July 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.

Exercise of options over Ordinary Shares and Sale of Shares

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Company directors/officers: Gervaise Heddle Chief Executive Officer Callum Baxter Chief Technical Officer
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 instrument	Ordinary Shares of 0.1 pence each
b)	Identification code	GB00B15XDH89
c)	Nature of the transactions	Exercise of options over Ordinary Shares & Sale of Shares
d)	Price(s) and volume(s)	Gervaise Heddle Date Transaction Type Amount Price 8 April 19 Sale of shares 2,500,000 1.78p 9 April 19 Sale of shares 1,000,000 1.74p 8 April 19 Exercise of options 25,000,000 0.50p Callum Baxter Date Transaction Type Amount Price 8 April 19 Exercise of options 25,000,000 0.20p 8 April 19 Exercise of options 28,000,000 0.28p
e)	Aggregated information -     Aggregated volume -     Price	Transaction Type Amount Price Sale of shares 2,500,000 1.78p Sale of shares 1,000,000 1.74p Exercise of options 25,000,000 0.5p Exercise of options 25,000,000 0.20p Exercise of options 28,000,000 0.28p
f)	Date of the transactions	8 April 2019 and 9 April 2019
f)	Place of the transactions	London Stock Exchange, AIM Market (XLON)

The Extension

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Alex Borrelli Chairman
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 instrument	Ordinary Shares of 0.1 pence each
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 Price New Expiry Date 25,000,000 14,000,000 0.2p 0.28p 20 April 2021 18 July 2022
e)	Aggregated information -     Aggregated volume -     Price	N/A
f)	Date of the transactions	9 April 2019
f)	Place of the transactions	N/A

Enquiries:

Greatland Gold PLC

Gervaise Heddle/Callum Baxter

Tel: [phone]

Email:  [e-mail]

www.greatlandgold.com

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott/James Keeshan

Tel: [phone]

SI Capital Limited (Broker)

Nick Emerson/Alan Gunn

Tel:  [phone]

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore

Tel: [phone]

Notes for Editors:

Greatland Gold plc (AIM: GGP) is a London listed natural resource exploration and development company with a current focus on gold, copper and cobalt exploration projects.  

The Company has six main projects; four situated in Western Australia and two in Tasmania.  All projects are 100% owned by Greatland.

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.

 

END

 

 

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