REG - Great Southrn.Copper - Conditional Grant of Share Options
06/10/2023 07:00
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RNS Number : 8980O Great Southern Copper PLC 06 October 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
06 October 2023
Great Southern Copper plc
("GSC" or the "Company")
Conditional Grant of Share Options
Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold and
lithium exploration in Chile, announces that pursuant to its Share Option Plan
2023 ("2023 SOP"), as approved at the Company's Annual General Meeting, the
Board has approved the conditional grant of 22.5 million share options priced
at 1p to Directors and employees of the Company. The share options have been
granted on the recommendation of the Remuneration Committee and are subject to
the publication of a prospectus approved by the Financial Conduct Authority.
The share options have been conditionally granted as follows:
Name Role Number of options granted Exercise price Total options held post issue
Charles Bond Chairman 2,500,000 1p 3,763,194
Sam Garrett Chief Executive Officer 8,000,000 1p 10,021,111
Martin Page Chief Financial Officer 5,000,000 1p 5,000,000
Nicholas Briers Non-executive Director 1,500,000 1p 2,257,917
Stuart Greene Non-executive Director 1,500,000 1p 2,257,917
Employees Country Manager and geologists 4,000,000 1p 6,101,956
Conditional upon continuing employment with the Company, the options will vest
in equal tranches over three years from grant: one third after 12 months, one
third after 24 months and one third after 36 months. There are no other
vesting conditions.
Following this award, and once the grant of these new options becomes
unconditional, assuming no other share issuance other than the issue of
41,749,995 Ordinary 1p shares to be issued on the conversion of the
Convertible Loan as announced in the fundraising announcement of 15 May 2023,
the Company will have 29,402,094 share options in issue under the existing
share option schemes, representing 9.9% of the existing issued share capital
of the Company.
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Charles Bond
2 Reason for the notification
a) Position/status Chairman
b) Initial notification/ Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Great Southern Copper plc
b) LEI 213800RF6N9WA8PZH313
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 Ordinary shares of no par value
Identification code
GB00BLB5BF24
b) Nature of the transaction Award of option to purchase ordinary shares of the Company. Following the
transaction, Mr Bond holds 3,763,194 options to purchase ordinary shares.
c) Price(s) and volume(s) Price(s) Volume(s)
1p 2,500,000
d) Aggregated information
Aggregated volume
- Price 1p
e) Date of the transaction 5 October 2023
Note: the Company is not considered in a close period at the time of this
transaction.
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume
- Price
1p
e)
Date of the transaction
5 October 2023
Note: the Company is not considered in a close period at the time of this
transaction.
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Sam Garrett
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification/ Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Great Southern Copper plc
b) LEI 213800RF6N9WA8PZH31
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 Ordinary shares of no par value
Identification code
GB00BLB5BF24
b) Nature of the transaction Award of option to purchase ordinary shares of the Company. Following the
transaction, Mr Garrett holds 10,021,111 options to purchase ordinary shares.
c) Price(s) and volume(s) Price(s) Volume(s)
1p 8,000,000
d) Aggregated information
Aggregated volume
- Price 1p
e) Date of the transaction 5 October 2023
Note: the Company is not considered in a close period at the time of this
transaction.
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume
- Price
1p
e)
Date of the transaction
5 October 2023
Note: the Company is not considered in a close period at the time of this
transaction.
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Martin Page
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/ Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Great Southern Copper plc
b) LEI 213800RF6N9WA8PZH31
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 Ordinary shares of no par value
Identification code
GB00BLB5BF24
b) Nature of the transaction Award of option to purchase ordinary shares of the Company. Following the
transaction, Mr Page holds 5,000,000 options to purchase ordinary shares.
c) Price(s) and volume(s) Price(s) Volume(s)
1p 5,000,000
d) Aggregated information
Aggregated volume
- Price 1p
e) Date of the transaction 5 October 2023
Note: the Company is not considered in a close period at the time of this
transaction.
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume
- Price
1p
e)
Date of the transaction
5 October 2023
Note: the Company is not considered in a close period at the time of this
transaction.
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Nicholas Briers
2 Reason for the notification
a) Position/status Non-executive Director
b) Initial notification/ Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Great Southern Copper plc
b) LEI 213800RF6N9WA8PZH31
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 Ordinary shares of no par value
Identification code
GB00BLB5BF24
b) Nature of the transaction Award of option to purchase ordinary shares of the Company. Following the
transaction, Mr Briers holds 2,257,917 options to purchase ordinary shares.
c) Price(s) and volume(s) Price(s) Volume(s)
1p 1,500,000
d) Aggregated information
Aggregated volume
- Price 1p
e) Date of the transaction 5 October 2023
Note: the Company is not considered in a close period at the time of this
transaction.
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume
- Price
1p
e)
Date of the transaction
5 October 2023
Note: the Company is not considered in a close period at the time of this
transaction.
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Stuart Greene
2 Reason for the notification
a) Position/status Non-executive Director
b) Initial notification/ Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Great Southern Copper plc
b) LEI 213800RF6N9WA8PZH31
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 Ordinary shares of no par value
Identification code
GB00BLB5BF24
b) Nature of the transaction Award of option to purchase ordinary shares of the Company. Following the
transaction, Mr Greene holds 2,257,917 options to purchase ordinary shares.
c) Price(s) and volume(s) Price(s) Volume(s)
1p 1,500,000
d) Aggregated information
Aggregated volume
- Price 1p
e) Date of the transaction 5 October 2023
Note: the Company is not considered in a close period at the time of this
transaction.
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume
- Price
1p
e)
Date of the transaction
5 October 2023
Note: the Company is not considered in a close period at the time of this
transaction.
f)
Place of the transaction
Outside a trading venue
Contact Details:
Great Southern Copper plc
Sam Garrett, Chief Executive Officer +44 (0) 20 4582 3500
SI Capital Limited
Nick Emerson +44 (0) 1483 413500
Gracechurch Group
Harry Chathli, Alexis Gore, Henry Gamble +44 (0) 20 4582 3500
Notes for Editors:
About Great Southern Copper
Great Southern Copper is a mineral exploration company focused on copper-gold
and lithium deposits in Chile. The Company has the option to acquire rights to
100% of three projects that are prospective for large scale copper-gold
deposits and lithium brine deposits. Chile is a globally significant mining
jurisdiction being recognised as the world's largest copper producer and the
second largest producer of lithium.
The three projects comprise the San Lorenzo and Especularita Cu-Au Projects,
located in the central north of Chile, and the Monti Lithium Project located
in the Salar de Atacama. The two early-stage Cu-Au exploration projects are
within the same coastal metallogenic belt as other major deposits including
Teck's Andacollo copper and gold mine. Significant historical smallscale 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 and lihium, both key metals in the clean energy transition around
the world. The Company is actively engaged in exploration and evaluation work
programmes targeting both large tonnage, low to medium grade Cu-Au deposits as
well as lithium brine and lithium clay-hosted deposits.
Further information on the Company is available on the Company's website:
https://gscplc.com (https://gscplc.com)
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