RE: Directors Dealings22 May 2025 18:03
Some of these point have been posted by MartinN, Trippy and MH01. - Thank you
I’ve not seen anything from Freddie2.
See RNS 1160J-
Directors surrender their shares @6.64 pence- this is because under ASX rules it could be seen as possibly breaching short term trader’s rules. This was stated by Shaun Day.
CEO and board members repurchased shares 19th May @11.7p which are (IN PENDING) - a third party holding type escrow is my guess, because if they didn’t they would again be in breach of ASX regulations on the day of listing. Note the option price is pretty close to the former option price point though they have in fact less shares now than before with the decision they have taken.
Reasoning;
In the town hall meeting Shaun presentation showed new stocks listed on the ASX have a history of increasing by 10-20% on launch. Therefore buying at 11.7 pence last Monday will almost certainly be less than opening day prices on the ASX cross listing with institutional / superannuation investment funds mandated to buy though probably not all on the first day of listing.
As regards to Freddie2 saying they bought them with our money…..
Elizabeth Gains, Mark Barnaba, Paul Hallam @ Co were courted/persuaded by Shaun Day for a 18 months period to come to GGP for reasons that are obvious to most people now.
He couldn’t afford to pay them a salary so granted share options instead.
If the company had gone down the pan, the board would receive £0 from these shares. If you read the annual statement you will see that the shares were locked into performance targets, so potential rewards could have been between zero to euphoria.
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Company Peers CEO Salary Comparison
(slide 10 of presentation)
https://www.greatland.com.au/wp-content/uploads/2025/05/Corporate-Presentation_May-2025_v2.pdf
Northern Star- Stuart Tonkin, salary A$7.3 million
Genesis Minerals- Raleigh Finlayson, salary A$2.53 million
Shaun Day, annual salary £669.87k and one off performance related share options £4,827,280
Gold Road Resources-Duncan Gibbs salary A$1.54 million
Regis Resources- Regis Resources' Jim Beyer salary A$1.72M
Ramelius Resources- Mark Zeptner, salary AU$780.8k
Capricorn Metals- Paul Criddle, salary AU$626k
Conclusion; The prospectus is released tomorrow and SD and his board know what’s in it. Therefore the board believed it was better to acquire their shares on Monday 19th May rather than the opening day on the ASX.
Additional:
1/ Shaun said the American GDX may now be forced to rebalance and buy because at the moment they are not forced to under AIM.
2/ Shaun was in Melbourne and Sydney the week prior to the town hall. If you look at Northern Stars share register you will see that many of the superannuation funds invested are based in those cities. It’s my opinion he was promoting and canvassing superannuation and institutional fund managers on the likely