REG - Greatland Gold PLC - Director Appointment and ASX Listing Update

Greatland GoldAnnouncement

02/05/2023 07:00

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RNS Number : 0582Y  Greatland Gold PLC  02 May 2023

Greatland Gold plc (AIM: GGP)

E: info@greatlandgold.com

W: https://greatlandgold.com

: twitter.com/greatlandgold

 

 

NEWS RELEASE | 2 May
2023

 

 

Non-Executive Director Appointment and ASX Listing Update

 

Yasmin Broughton to join Greatland Board ahead of ASX cross-listing

 

 

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.

Highlights

§  Yasmin Broughton, a highly experienced company director with a particular
focus on natural resources, to join the Greatland Board effective today

§  Ms Broughton brings extensive experience in corporate law, mergers and
acquisitions, governance, risk management, compliance and regulation

§  Ms Broughton's skills complement the Greatland Board ahead of the
Company's planned listing on the Australian Securities Exchange (ASX) in 2023

 

Greatland Gold plc (AIM:GGP; Greatland or Company) is pleased to announce the
appointment of Yasmin Broughton as an Independent Non-Executive Director of
the Company effective today.  Ms Broughton's appointment further strengthens
Greatland's Board ahead of the Company's planned listing on the ASX.

Yasmin Broughton, Non-Executive Director

Ms Broughton is a qualified lawyer with significant experience as a
non-executive director across a diverse range of industries with a particular
focus on natural resources.  With over 20 years of experience working with
ASX-listed companies, Ms Broughton has expertise in governance, risk
management, compliance and regulation.

As a corporate lawyer, Ms Broughton specialised in mergers and acquisitions,
corporate finance and corporate governance at law firms, Clayton Utz and
Ashurst.

Ms Broughton currently serves as a Non-Executive Director of RAC Group
(Western Australia's largest insurance provider), Synergy (Western Australia's
largest electricity generator and energy retailer) and Wright Prospecting
(private resources company).  Ms Broughton has previously served as
Non-Executive Director of Resolute Mining (ASX/LSE-listed gold producer),
Western Areas (ASX-listed nickel producer) and the Insurance Commission of
Western Australia.

Greatland Chairman, Mark Barnaba, welcomed the appointment of Ms Broughton to
the Board:

"We are delighted to welcome Yasmin to Greatland's Board of Directors.
Yasmin is an outstanding individual whose legal, governance and risk
management skills will augment our Board.  Yasmin is an Australian-based
director who is well placed to contribute to the next phase of Greatland's
growth, beginning with our planned ASX listing this year."

ASX Listing

Further to previous communications, Greatland is advancing its preparations
for a cross-listing on the ASX which is targeted to occur during the September
2023 quarter subject to regulatory clearance (ASX Listing).

Greatland has a high quality base of UK shareholders that have supported the
Company on its growth journey to date.  Greatland remains committed to the UK
market and will remain listed on the Alternative Investment Market (AIM) of
the London Stock Exchange should it complete an ASX Listing.

As part of the ASX Listing, Greatland is evaluating a corporate
reorganisation, so that the Greatland group would sit under a new parent
company incorporated in Australia (Reorganisation).  If progressed, the
Reorganisation would be affected through a scheme of arrangement under the
Companies Act 2006 (UK), and would be subject to approval by Greatland's
shareholders and the UK courts.  Applications would be made for the admission
of the new parent company to trading on both the ASX and AIM.

The purposes and objectives of the ASX Listing are to:

§  facilitate increased equity research and institutional investor ownership
of Greatland to support greater liquidity and interest in the stock;

§  enhance Greatland's capital markets profile; the ASX is a natural listing
venue for mining companies especially those with assets located in Australia;
and

§  provide Greatland with access to deeper pools of capital to support
longer term growth.

Greatland considers that the Reorganisation supports:

§  better alignment of Greatland's corporate structure with its assets and
operations; all of Greatland's projects are located in Australia, as are
Greatland's employees;

§  reduced costs and complexity associated with Greatland owning assets and
conducting operations in Australia while being domiciled in the UK;

§  greater flexibility to pursue growth initiatives including corporate and
asset level transactions including early-stage farm-ins and joint ventures
which are continually evaluated as part of Greatland's growth strategy; and

§  increased institutional ownership of Greatland, as certain institutional
investors may be more attracted to invest in Greatland as an Australian
domiciled, dual ASX and AIM-listed, company.

As noted above, if the Reorganisation is undertaken it will be effected by a
scheme of arrangement under the Companies Act 2006 (UK) and will require
shareholder approval, meaning that shareholders would have the opportunity to
consider and vote on the Reorganisation.

Greatland appreciates that shareholders may have questions about the
Reorganisation and if the Reorganisation is pursued, shareholders will be
provided with detailed information to consider ahead of a shareholder vote on
the matter.

While Greatland has not yet made a definitive decision as to a Reorganisation
(in conjunction with an ASX Listing), it is important to note that:

§  Greatland remains committed to the AIM market and its UK shareholders;
and

§  Greatland (through a new Australian parent company if the Reorganisation
is undertaken) will remain listed on AIM such that shareholders will still be
able to trade on AIM in British pounds sterling, and Greatland will remain
subject to the AIM Rules.

Greatland will keep shareholders informed on all material developments as it
continues to evaluate and progress the ASX Listing and Reorganisation, and
will inform shareholders if or when they need to take any action.

Greatland Managing Director, Shaun Day, commented:

"Greatland has an ambitious growth agenda and the appointment of Yasmin
Broughton to our Board is timely in the lead up to our planned listing on the
ASX.

While we consider that a listing on the ASX is important to supporting the
creation of long-term shareholder value, the UK remains an important market
for Greatland and accordingly our shareholders will continue to be able to
trade on the LSE's AIM.

Further, the potential simplication of the organisational structure would
remove some of the current costs and complexity associated with having
operations in Australia while being corporately domiciled in the UK.

Importantly, the ASX listing is intended to provide a platform to attract
additional investor interest in Greatland, which would be positive for our
existing shareholders."

Additional disclosures regarding Ms Broughton's appointment

The following details in relation to the appointment of Ms Broughton, aged 50,
are disclosed in accordance with Schedule 2(g) of the AIM Rules:

 Current directorships or partnerships:                   Former appointments within the last 5 years:
 RAC Insurance Pty Ltd                                    Western Areas Limited (ASX-listed)
 VOC Group Ltd                                            Insurance Commission of Western Australia
 RACWA Holdings Pty Ltd                                   Resolute Mining Limited (ASX-listed)
 RAC Finance Ltd                                          CyberGym Global Limited (Israel)
 Wright Prospecting Pty Ltd                               Edge Employment Solutions Inc
 Electricity Generation and Retail Corporation (Synergy)
 Presbyterian Ladies College
 Curtin University

 Rhodes Ridge Holdings (No 1) Pty Ltd

 Rhodes Ridge Holdings (No 2) Pty Ltd

 Rhodes Ridge Mining (No 2) Pty Ltd

 SPV Master Holdco A Pty Ltd

 SPV Master Holdco V Pty Ltd

 Rhodes Ridge Mining (No 1) Pty Ltd

 Jimblebar Royalties Holdings No 2 Pty Ltd

 Jimblebar Royalties No 2 Pty Ltd

 Jimblebar Royalties No 1 Pty Ltd

 Jimblebar Royalties Holdings No 1 Pty Ltd

Save as set out above, no further information is required to be disclosed
pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies in
relation to Ms Broughton.

Contact

For further information, please contact:

Greatland Gold plc

Shaun Day, Managing Director  |  info@greatlandgold.com

 

Nominated Adviser

SPARK Advisory Partners

Andrew Emmott / James Keeshan / Neil Baldwin |  +44 203 368 3550

 

Corporate Brokers

Berenberg  |  Matthew Armitt / Jennifer Lee  |  +44 203 368 3550

Canaccord Genuity  |  James Asensio / Patrick Dolaghan  |  +44 207 523
8000

SI Capital Limited  |  Nick Emerson / Sam Lomanto  |  +44 148 341 3500

 

Media Relations

UK - Gracechurch Group  | Harry Chathli / Alexis Gore / Henry Gamble  |
+44 204 582 3500

Australia - Fivemark Partners  |  Michael Vaughan  |  +61 422 602 720

 

About Greatland

Greatland is a mining development and exploration company focused primarily on
precious and base metals.

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 ("Newcrest").

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 and continues to accelerate with project record advancement achieved in
the December 2022 quarter.  Havieron is intended to leverage the existing
Telfer infrastructure and processing plant. Access to Telfer will de-risk the
development, reduce capital expenditure and lower the project's carbon
footprint.

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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