REG - Greatland Gold PLC - Exercise of Options and Director Dealing

Greatland GoldAnnouncement

02/10/2023 08:45

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RNS Number : 3386O  Greatland Gold PLC  02 October 2023

Greatland Gold plc (AIM: GGP)

E: info@greatlandgold.com

W: https://greatlandgold.com

: twitter.com/greatlandgold

 

 

NEWS RELEASE | 2 October
2023

 

 

Exercise of Options and Director Dealing

 

 

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.

Greatland Gold plc (AIM:GGP; Greatland or Company) announces the exercise of
options and partial sale of shares (to fund exercise consideration and tax
liabilities) by Non-Executive Director, Alex Borrelli.

The Company has received binding option exercise notices in respect of the
following options (Options):

 Holder         Grant date   Number of options  Exercise price (p)  Total consideration
 Alex Borrelli  18 Jan 2017  14,000,000((1))    0.28                £39,200
 Alex Borrelli  7 Sept 2018  2,500,000((1))     1.40                £35,000
 Alex Borrelli  7 Sept 2018  2,500,000((1))     2.00                £50,000
 Total                       19,000,000         -                   £124,200

Note: (1) Exercise period for these options was automatically extended in
accordance with the terms of their grant due to the holder being in possession
of inside information (and therefore prevented from exercising) at the expiry
date.

Following exercise of the Options, Alex Borrelli has retained 9,000,000
shares, and sold 10,000,000 shares to fund the associated exercise costs and
tax liabilities. Alex Borrelli's shareholding has now increased to 35,403,372
shares in the Company, representing 0.70% of the total voting rights. Alex
Borrelli does not hold any further share options in the Company.

Admission of shares and total voting rights

As a result of the exercise of the Options, an application will be made to
the London Stock Exchange for 19,000,000 new fully paid ordinary shares
(New Shares) to be admitted to trading on AIM (Admission). The New Shares will
be issued conditional on Admission.  Admission is expected to occur
at 8.00am on 6 October 2023.

Following Admission, the total issued share capital of the Company will
consist of 5,090,376,282 ordinary shares. As each ordinary share carries the
right to one vote, the total number of voting rights in the Company will be
5,090,376,282. 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 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.

 

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)                                           Company directors/officers:

                                        Alex Borrelli  Non-Executive Director
      Name

 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 and Sale of Ordinary Shares
 d)  Price(s) and volume(s)                   Alex Borrelli

Date        Transaction Type         Amount      Price
                                              1Oct 2023  Exercise of Options      14,000,000  0.28p
                                              1Oct 2023  Exercise of Options      2,500,000   1.40p
                                              1Oct 2023  Exercise of Options      2,500,000   2.00p
                                              1Oct 2023  Sale of Ordinary Shares  10,000,000  6.35p
 e)  Aggregated information

Transaction Type         Amount      Price
     -     Aggregated volume                  Exercise of Options      14,000,000  0.28p

                                        Exercise of Options      2,500,000   1.40p
     -     Price                              Exercise of Options      2,500,000   2.00p
                                              Sale of Ordinary Shares  10,000,000  6.35p
 f)  Date of the transactions                 1 October 2023
 g)  Place of the transactions                London Stock Exchange, AIM Market (XLON)

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 and Sale of Ordinary Shares

d)

Price(s) and volume(s)

Alex Borrelli

 Date        Transaction Type         Amount      Price
 1 Oct 2023  Exercise of Options      14,000,000  0.28p
 1 Oct 2023  Exercise of Options      2,500,000   1.40p
 1 Oct 2023  Exercise of Options      2,500,000   2.00p
 1 Oct 2023  Sale of Ordinary Shares  10,000,000  6.35p

e)

Aggregated information

-     Aggregated volume

-     Price

 

 Transaction Type         Amount      Price
 Exercise of Options      14,000,000  0.28p
 Exercise of Options      2,500,000   1.40p
 Exercise of Options      2,500,000   2.00p
 Sale of Ordinary Shares  10,000,000  6.35p

f)

Date of the transactions

1 October 2023

g)

Place of the transactions

London Stock Exchange, AIM Market (XLON)

 

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 / George Grainger |  +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 (which is the subject of an agreed takeover by Newmont
Corporation that is ongoing).

 

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.  Significant progress continues with the exploration decline with total
development at over 2,600 metres in early August 2023.  Subject to a positive
feasibility study and Decision to Mine, Havieron may leverage the existing
Telfer infrastructure and processing plant.

 

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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