Last checked at 23 Apr 2020 12:30
GREAT WESTERN MINING CORPORATION PLC
("Great Western" or the "Company")
Grant of Share Options and COVID-19 Update
Great Western Mining Corporation PLC (AIM: GWMO & ESM: 8GW) announces that it has granted a total of 47 million share options, including grants to Directors, in accordance with the rules of the Company's Share Option Plan 2014 which was approved by shareholders on 17 July 2014.
The Company also advises that, in response to the impact of COVID-19 and to conserve as much cash as possible, it has introduced a range of cost saving initiatives including agreements with Directors and staff to defer 30% of their salaries. The Company remains in a good cash position and looks forward to restarting activities on the ground in Nevada as soon as circumstances permit.
The share option awards were approved by the Board on 22 April 2020 (the "Award Date") and the exercise price of the new options will be Sterling 0.09 pence per share, representing the average closing price for the ten preceding days. The options are for seven years and vest immediately with exercise subject to performance conditions being a minimum 50% uplift in the share price.
Share Options issued to persons discharging management responsibilities:
Brian Hall | 9,000,000 |
Robert O'Connell | 9,000,000 |
Max Williams | 9,000,000 |
Great Western has 1,425,464,550 ordinary shares of €0.0001 in issue. In addition to the options being granted today, the Company has previously granted 24 million Share Options with an Exercise Price of 0.8p, 25 million Share Options with an Exercise Price of 1.6p, 16 million Share Options with an Exercise Price of 0.5p, 45 million Share Options with an Exercise Price of 0.09 p, 4,687,500 Warrants with an Exercise Price of 2.1p, 1,925,000 Warrants with an Exercise with an Exercise Price of 1.75p and 375 million Warrants with an Exercise Price of 0.16p.
The Directors' interests in the shares of Great Western are:
| Shares | Warrants | Options pre-grant | Options post-grant |
Brian Hall | 48,000,200 | 31,250,000 | 10,666,667 | 19,666,667 |
Robert O'Connell | 21,670,490 | - | 17,000,000 | 26,000,000 |
Max Williams | 31,250,000 | 31,250,000 | - | 9,000,000 |
For further information: |
|
Great Western Mining Corporation PLC Brian Hall, Chairman Max Williams, Finance Director
|
+44 207 933 8795 (via Walbrook PR) +44 207 933 8795 (via Walbrook PR)
|
Davy (Nomad, Euronext Growth Adviser & Joint Broker) John Frain |
+353 1 679 6363
|
Novum Securities (Joint Broker) Jon Belliss
|
+44 207 399 9400 |
ETX Capital (Joint Broker) Philip Adler
|
+44 207 392 1494
|
Walbrook PR Nick Rome |
+44 207 933 8795 |
Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them
[This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)]
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name | BRIAN HALL
| ||||
| ||||||
2 | Reason for the notification
| |||||
a) | Position/status | EXECUTIVE CHAIRMAN
| ||||
b) | Initial Notification Amendment |
| ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | GREAT WESTERN MINING CORPORATION PLC
| ||||
b) | LEI | 635400NZ1RTHSGDVNQ43
| ||||
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, type of instrument Identification code | ORDINARY SHARES OF €0.0001 EACH
ISIN: IE00B1FR8863
| ||||
b) | Nature of the transaction |
GRANT OF OPTIONS
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
| ||||
e) | Date of the transaction | 22 APRIL 2020
| ||||
f) | Place of the transaction | OFF MARKET
| ||||
g) | Additional Information |
| ||||
Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them
[This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)]
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name | ROBERT O'CONNELL
| ||||
| ||||||
2 | Reason for the notification
| |||||
a) | Position/status | OPERATIONS DIRECTOR
| ||||
b) | Initial Notification Amendment |
| ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | GREAT WESTERN MINING CORPORATION PLC
| ||||
b) | LEI | 635400NZ1RTHSGDVNQ43
| ||||
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, type of instrument Identification code | ORDINARY SHARES OF €0.0001 EACH
ISIN: IE00B1FR8863
| ||||
b) | Nature of the transaction |
GRANT OF OPTIONS
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
| ||||
e) | Date of the transaction | 22 APRIL 2020
| ||||
f) | Place of the transaction | OFF MARKET
| ||||
g) | Additional Information |
| ||||
Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them
[This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)]
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name | MAX WILLIAMS
| ||||
| ||||||
2 | Reason for the notification
| |||||
a) | Position/status | FINANCE DIRECTOR
| ||||
b) | Initial Notification Amendment |
| ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | GREAT WESTERN MINING CORPORATION PLC
| ||||
b) | LEI | 635400NZ1RTHSGDVNQ43
| ||||
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, type of instrument Identification code | ORDINARY SHARES OF €0.0001 EACH
ISIN: IE00B1FR8863
| ||||
b) | Nature of the transaction |
GRANT OF OPTIONS
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
| ||||
e) | Date of the transaction | 22 APRIL 2020
| ||||
f) | Place of the transaction | OFF MARKET
| ||||
g) | Additional Information |
| ||||