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Greatland Gold PLC

Exercise & Extension of Options, Director Dealings

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RNS Number : 6508V
Greatland Gold PLC
09 April 2019
 

 

9 April 2019

 

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

 

 

Greatland Gold plc

("Greatland" or "the Company")

 

Exercise of Options, Director Dealings, Extension of Options

 

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, announces the exercise of share options by directors and employees, the sale of shares by a director to partially cover the cost of an option exercise, and the extension of the expiry date for certain previously granted director options.

 

The Company has received binding option exercise notices from directors and employees for 90,500,000 options at various exercise prices (detailed below) for a total amount of £319,900.

 

Director/Employee

Position

Number of Options

Exercise Price

Shares to be issued

Gervaise Heddle

Chief Executive Officer

25,000,000

0.5p

25,000,000

Callum Baxter

Chief Technical Officer

25,000,000

28,000,000

0.2p

0.28p

25,000,000

28,000,000

Key employees

Various Positions

7,500,000

5,000,000

0.7p

0.28p

7,500,000

5,000,000

 

As a result of these option conversions, 90,500,000 new ordinary shares are expected to be admitted to trading on or around 16 April 2019 ("Admission").

 

Following Admission the total issued share capital of the Company will consist of 3,323,420,145 ordinary shares.  As such the total number of voting rights in the Company will be 3,323,420,145 ordinary shares.  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 Company has been notified that Gervaise Heddle, Chief Executive Officer, has sold 3,500,000 shares in the Company in order to partially cover the cost of exercise of the 25,000,000 options exercised by him as described above.

 

Following the exercise of options by directors (Gervaise Heddle and Callum Baxter) and the sale of shares by Gervaise Heddle, the resultant total directors' shareholdings and options are as follows:

 

Director

Position

Shares Held

Percentage of shares held

Options Held

Alex Borrelli

Chairman

13,000,000

0.39%

51,500,000

Gervaise Heddle

Chief Executive Officer

25,750,000

0.77%

73,500,000

Callum Baxter

Chief Technical Officer

77,572,951

2.33%

45,500,000

Clive Latcham

Non-Executive Director

Nil

Nil

10,000,000

 

In addition, the Company announces the extension of the expiry date of the following performance share options previously granted to Mr Alex Borrelli, Non-Executive Chairman (the "Extension"). In consideration for a two-year extension of the expiry period on the options described below, the Board has agreed that no further options will be granted to Mr Borrelli for a period of two years from today's date.

 

Director

Number of Options

Exercise Price

Previous Expiry Date

New

Expiry Date

Alex Borrelli

25,000,000

14,000,000

0.2p

0.28p

20 April 2019

18 July 2020

20 April 2021

18 July 2022

 

 

Related Party Opinion

 

The Extension is considered a related party transaction for the purposes of the AIM Rules. The independent directors (being the directors other than Alex Borrelli), having consulted with SPARK Advisory Partners Limited, the Company's Nominated Adviser, consider the terms of the Extension to be fair and reasonable insofar as the Company's shareholders are concerned.

 

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.

 

Exercise of options over Ordinary Shares and Sale of Shares

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

 

 

 

Name

 

 

 

Company directors/officers:

Gervaise Heddle

Chief Executive Officer

Callum Baxter

Chief Technical Officer

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 & Sale of Shares

d)

Price(s) and volume(s)

 

 

 

Gervaise Heddle

Date

Transaction Type

Amount

Price

8 April 19

Sale of shares

2,500,000

1.78p

9 April 19

Sale of shares

1,000,000

1.74p

8 April 19

Exercise of options

25,000,000

0.50p

 

 

Callum Baxter

Date

Transaction Type

Amount

Price

8 April 19

Exercise of options

25,000,000

0.20p

8 April 19

Exercise of options

28,000,000

0.28p

 

 

e)

Aggregated information

-     Aggregated volume

-     Price

 

Transaction Type

Amount

Price

Sale of shares

2,500,000

1.78p

Sale of shares

1,000,000

1.74p

Exercise of options

25,000,000

0.5p

Exercise of options

25,000,000

0.20p

Exercise of options

28,000,000

0.28p

f)

Date of the transactions

8 April 2019 and 9 April 2019

 

f)

Place of the transactions

London Stock Exchange, AIM Market (XLON)

 

 

The Extension

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

 

 

 

Name

 

 

 

Alex Borrelli

Chairman

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

Extension of the expiry date of performance share options

d)

Price(s) and volume(s)

 

 

 

Number of Options

Exercise Price

New Expiry Date

25,000,000

14,000,000

0.2p

0.28p

20 April 2021

18 July 2022

 

 

 

 

e)

Aggregated information

-     Aggregated volume

-     Price

N/A

f)

Date of the transactions

9 April 2019

 

f)

Place of the transactions

N/A

 

 

 

Enquiries:

 

Greatland Gold PLC

Gervaise Heddle/Callum Baxter

Tel: +44 (0)20 3709 4900

Email:  [email protected]

www.greatlandgold.com

 

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott/James Keeshan

Tel: +44 (0)20 3368 3550

 

SI Capital Limited (Broker)

Nick Emerson/Alan Gunn

Tel:  +44 (0)14 8341 3500

 

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore

Tel: +44 (0)20 7618 9100

 

 

Notes for Editors:

 

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

 

The Company has six main projects; four 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.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
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