Result of General Meeting

RNS Number : 9409X

Greatland Gold PLC

11 May 2016

 

11 May 2016

Greatland Gold plc

("Greatland" or "the Company")

Result of General Meeting

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM quoted precious and base metals exploration and development business, announces that at the General Meeting which was held earlier today, all resolutions were duly passed.

As a result of the directors receiving shareholder approval for increased authority to issue shares and the right to subscribe for shares on a non-pre-emptive basis, the Company will proceed with the placing announced on 22 April 2016 by issuing 245,333,333 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") to raise £460,000. As previously announced, Paul Johnson, Non-Executive Director of Greatland is participating in the placing, to acquire 13,333,333 Ordinary Shares for a total consideration of £25,000.

Further, the Company will also issue 47,428,570 Ordinary Shares to directors in exchange for a proportion of their salary for the next 12 months (details included in the announcement of 20 April 2016).

Directors' interests

The table below sets out the directors' resultant interests in the share capital of the Company following the issue of the Ordinary Shares outlined above:

Director	Position	Shares Held	% of the enlarged share capital of the Company following the issue of the placing and salary sacrifice shares
Andrew Bell	Chairman	37,452,284	2.52%
Callum Baxter	Executive Director	24,572,951	1.65%
Alex Borrelli	Non-Executive Director	13,000,000	0.88%
Paul Johnson (& Spouse)	Non-Executive Director	83,500,000	5.62%

Andrew Bell is also a director and shareholder of Regency Mines Plc, which has a beneficial interest in 1,500,000 Greatland Ordinary Shares, representing 0.10 per cent of the enlarged issued share capital of the Company.

Paul Johnson and Alex Borrelli are also directors and shareholders of Metal Tiger Plc, which has a beneficial interest in 150,000,000 Greatland Ordinary Shares, representing 10.1 per cent of the enlarged issued share capital of the Company.

Settlement and dealings

Application will been made to the AIM market of the London Stock Exchange ("AIM") for a total of 292,761,903 new Ordinary Shares, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. Dealings on AIM are expected to commence at 8:00 a.m. on 19 May 2016 ("Admission").

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), following Admission the issued ordinary share capital of Greatland comprises 1,485,099,848 Ordinary Shares with voting rights attached (one vote per share). The Company does not hold any shares in treasury.  This figure of 1,485,099,848 may be used by the Company's shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in the share capital of Greatland under the DTRs.

Enquiries:

Greatland Gold PLC

Callum Baxter / Andrew Bell

Tel [phone]

Email:  [e-mail]

www.greatlandgold.com

Grant Thornton UK LLP (Nominated Adviser)

Colin Aaronson / Richard Tonthat / Daniel Bush

Tel [phone]

SI Capital Limited (Broker)

Nick Emerson / Andy Thacker

Tel  [phone]

Finsbury (Media Relations)

Gordon Simpson / Olivia Simpson

Tel [phone]

Notes for Editors:

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

The Company has four main projects; two 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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