Exercise of Options and Extension of Options

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 £292,500.

Director/Employee	Position	Number of Options	Exercise Price	Shares to be issued
Key employees	Various Positions	5,000,000 5,000,000 2,500,000	2.5p 3.0p 0.7p	5,000,000 5,000,000 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 Options	Exercise Price	Previous Expiry Date	New Expiry Date
Alex Borrelli	25,000,000 7,500,000	0.2p 0.7p	20 April 2021 16 February 2021	20 April 2022 16 February 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)	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 7,500,000 0.2p 0.7p 20 April 2022 16 February 2022
e)	Aggregated information -  Aggregated volume -  Price	N/A
f)	Date of the transactions	28 January 2021
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]

Berenberg (Joint Corporate Broker and Financial Adviser)

Matthew Armitt/Jennifer Wyllie/Detlir Elezi

Tel: [phone]

Hannam & Partners (Joint Corporate Broker and Financial Adviser)

Andrew Chubb/Matt Hasson/Jay Ashfield

Tel: [phone]

SI Capital Limited (Joint Broker)

Nick Emerson/Alan Gunn

Tel:  [phone]

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore/Joe Quinlan

Tel: [phone]

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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