Last checked at 2 Oct 2023 08:31
Greatland Gold plc (AIM: GGP)
E: info@greatlandgold.com
W: https://greatlandgold.com
: twitter.com/greatlandgold
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NEWS RELEASE | 2 October 2023Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
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Exercise of Options and Director Dealing
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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK MARKET ABUSE REGULATIONS. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Greatland Gold plc (AIM:GGP; Greatland or Company) announces the exercise of options and partial sale of shares (to fund exercise consideration and tax liabilities) by Non-Executive Director, Alex Borrelli.
The Company has received binding option exercise notices in respect of the following options (Options):
Holder | Grant date | Number of options | Exercise price (p) | Total consideration |
Alex Borrelli | 18 Jan 2017 | 14,000,000(1) | 0.28 | £39,200 |
Alex Borrelli | 7 Sept 2018 | 2,500,000(1) | 1.40 | £35,000 |
Alex Borrelli | 7 Sept 2018 | 2,500,000(1) | 2.00 | £50,000 |
Total |  | 19,000,000 | - | £124,200 |
Note: (1) Exercise period for these options was automatically extended in accordance with the terms of their grant due to the holder being in possession of inside information (and therefore prevented from exercising) at the expiry date.
Following exercise of the Options, Alex Borrelli has retained 9,000,000 shares, and sold 10,000,000 shares to fund the associated exercise costs and tax liabilities. Alex Borrelli's shareholding has now increased to 35,403,372 shares in the Company, representing 0.70% of the total voting rights. Alex Borrelli does not hold any further share options in the Company.
Admission of shares and total voting rights
As a result of the exercise of the Options, an application will be made to the London Stock Exchange for 19,000,000 new fully paid ordinary shares (New Shares) to be admitted to trading on AIM (Admission). The New Shares will be issued conditional on Admission.  Admission is expected to occur at 8.00am on 6 October 2023.
Following Admission, the total issued share capital of the Company will consist of 5,090,376,282 ordinary shares. As each ordinary share carries the right to one vote, the total number of voting rights in the Company will be 5,090,376,282. 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 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.
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1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||||||
a) |   Name  |
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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 and Sale of Ordinary Shares | ||||||||||||||||||||
d) | Price(s) and volume(s) | Alex Borrelli
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e) | Aggregated information -Â Â Â Â Aggregated volume -Â Â Â Â Price | Â
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f) | Date of the transactions | 1 October 2023 | ||||||||||||||||||||
g) | Place of the transactions | London Stock Exchange, AIM Market (XLON) | ||||||||||||||||||||
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Contact
For further information, please contact:
Greatland Gold plc
Shaun Day, Managing Director | info@greatlandgold.com
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Nominated Adviser
SPARK Advisory Partners
Andrew Emmott / James Keeshan / Neil Baldwin | +44 203 368 3550
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Corporate Brokers
Berenberg | Matthew Armitt / Jennifer Lee | +44 203 368 3550
Canaccord Genuity | James Asensio / George Grainger | +44 207 523 8000
SI Capital Limited | Nick Emerson / Sam Lomanto | +44 148 341 3500
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Media Relations
UK - Gracechurch Group | Harry Chathli / Alexis Gore / Henry Gamble | +44 204 582 3500
Australia - Fivemark Partners | Michael Vaughan | +61 422 602 720
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About Greatland
Greatland is a mining development and exploration company focused primarily on precious and base metals.
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The Company's flagship asset is the world-class Havieron gold-copper project in the Paterson Province of Western Australia, discovered by Greatland and presently under development in joint venture with ASX gold major, Newcrest Mining Limited (which is the subject of an agreed takeover by Newmont Corporation that is ongoing).
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Havieron is located approximately 45km east of Newcrest's existing Telfer gold mine. The box cut and decline to the Havieron orebody commenced in February 2021. Significant progress continues with the exploration decline with total development at over 2,600 metres in early August 2023. Subject to a positive feasibility study and Decision to Mine, Havieron may leverage the existing Telfer infrastructure and processing plant.
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Greatland has a proven track record of discovery and exploration success and is pursuing the next generation of tier-one mineral deposits by applying advanced exploration techniques in under-explored regions. Greatland has a number of exploration projects across Western Australia and in parallel to the development of Havieron is focused on becoming a multi-commodity miner of significant scale.
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