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16 Feb 2022 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED, ("MAR") AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR. ON PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
16 February 2022
Great Southern Copper plc
("GSC" or the "Company")
Correction to Prospectus
Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold exploration in Chile, notes that it has become aware of a clerical error in its Prospectus dated 7 December 2021. Terms used in this announcement have the same meaning as set out in the Prospectus.
The number of Ordinary Shares held by Foreign Dimensions Pty Ltd ("FDPL") on Admission was 111,319,944 rather than 101,319,944 as set out in the Prospectus, on the basis FDPL subscribed for an additional 10,000,000 Placing Shares on Admission. FDPL's holding was therefore reduced from 67.65% immediately prior to Admission, to 52.39% on Admission, rather than 47.69% as set out in the Prospectus. FDPL is the trustee of the Colin and Imelda Bourke Family Trust, the beneficiaries of which are members of the Bourke family. Members of the Bourke family also held a further 4,638,060 (2.18%) of the Ordinary Shares on Admission.
The Takeover Code provides that where any person holds shares carrying more than 50% of the voting rights of a company, they are not restricted from acquiring an interest in shares which carries additional voting rights, nor will they be required under Rule 9 to make a general offer to the other shareholders to acquire their shares following such an acquisition. FDPL entered into a Relationship Agreement with the Company on 7 December 2021 to ensure that the Company is capable of carrying on its business independently of FDPL.
Enquiries:
Great Southern Copper plc |
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Sam Garrett, Chief Executive Officer | +44 20 7618 9100 |
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SI Capital Limited |
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Nick Emerson | +44 (0)14 8341 3500 |
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Luther Pendragon |
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Harry Chathli, Alexis Gore, John Bick | +44 20 7618 9100 |
Notes for Editors:
About Great Southern Copper
Great Southern Copper is a mineral exploration company focused on copper-gold deposits in Chile. The Company has the option to acquire rights to 100% of two projects that are prospective for large porphyry copper-gold deposits in the under explored coastal belt of Chile, a globally significant mining jurisdiction and the world's largest copper producer.
The two projects comprise the San Lorenzo Project, northeast of the coastal town of La Serena in northern Chile, and the Especularita Project located approximately 170km to the south of the San Lorenzo project. The two early-stage Cu-Au projects are within the same metallogenic belt as major coastal producing operations including Teck's Andacollo copper and gold mine. Significant historical small-scale and artisanal workings for both copper and gold are readily evident in both exploration project areas.
Great Southern Copper is strategically positioned to support the global market for copper, a key metal in the transition to clean energy around the world. The Company is planning a two-year exploration and evaluation work programme for the copper-gold projects, targeting principally large tonnage, low to medium grade porphyry style Cu-Au deposits.
Further information on the Company is available on the Company's website: www.gscplc.com
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