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Greatland Gold PLC - Exercise of Options and Director Dealing

RNS Number : 1390Q
Greatland Gold PLC
16 June 2020
 

16 June 2020

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 and Director Dealing

 

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development company, announces the exercise of options and the sale of shares by directors.

 

The Company has received binding option exercise notices from directors for 31,500,000 options at various exercise prices (detailed below) for a total amount of £318,500.

 

Director

Position

Number of Options

Exercise Price

Consideration

Shares to be issued

Gervaise Heddle

Chief Executive Officer

14,000,000

1.4p

£196,000

14,000,000

Callum Baxter

Chief Technical Officer

17,500,000

0.7p

£122,500

17,500,000

 

As a result of the option conversions, 31,500,000 new ordinary shares are expected to be admitted to trading on or around 23 June 2020 ("Admission").

 

Following Admission, the total issued share capital of the Company will consist of 3,736,303,929 ordinary shares.  As such the total number of voting rights in the Company will be 3,736,303,929 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 has sold 5,000,000 ordinary shares of 0.1 pence in the capital of the Company ("Ordinary Shares") at a price of 12.1885 pence for a total consideration of £609,425 on 15 June 2020. Following the option exercise and sale of shares, Gervaise Heddle has an increased holding of 77,750,000 Ordinary Shares, representing 2.1% of the issued share capital of the Company. Following the exercise and sale, he has 32,000,000 remaining share options at various strike prices.

 

The Company has been notified that Callum Baxter has sold 4,250,000 ordinary shares of 0.1 pence in the capital of the Company ("Ordinary Shares") at a price of 12.0364 pence for a total consideration of £511,548 on 15 June 2020. Following the option exercise and sale of shares, Callum Baxter has an increased holding of 90,822,951 Ordinary Shares, representing 2.4% of the issued share capital of the Company. Following the exercise and sale, he has 46,000,000 remaining share options at various strike prices.

 

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)

 

 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

15 June 2020

Exercise of Options

14,000,000

1.4p

15 June 2020

Sale of Ordinary Shares

5,000,000

12.1885p

Callum Baxter

Date

Transaction Type

Amount

Price

15 June 2020

Exercise of Options

17,500,000

0.7p

15 June 2020

Sale of Ordinary Shares

4,250,000

12.0364p

e)

Aggregated information

-     Aggregated volume

-     Price

 

Transaction Type

Amount

Price

Exercise of Options

14,000,000

1.4p

Exercise of Options

17,500,000

0.7p

Sale of Ordinary Shares

5,000,000

12.1885p

Sale of Ordinary Shares

4,250,000

12.0364p

f)

Date of the transactions

15 June 2020

f)

Place of the transactions

London Stock Exchange, AIM Market (XLON)

 

 

Enquiries:

 

Greatland Gold PLC

Gervaise Heddle/Callum Baxter

Tel: +44 (0)20 3709 4900

Email:  info@greatlandgold.com

www.greatlandgold.com

 

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott/James Keeshan

Tel: +44 (0)20 3368 3550

 

SI Capital Limited (Joint Broker)

Nick Emerson/Alan Gunn

Tel:  +44 (0)14 8341 3500

 

Numis Securities Limited (Joint Broker)

John Prior/Paul Gillam/Alamgir Ahmed

Tel: +44 (0)20 7260 1000

 

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore/Joe Quinlan

Tel: +44 (0)20 7618 9100

 

 

Notes for Editors:

 

Greatland Gold plc is a London Stock Exchange AIM-listed (AIM:GGP) natural resource exploration and development company with a current focus on precious and base metals.

 

The Company has six main projects; four situated in Western Australia and two in Tasmania. All projects are 100% owned by Greatland.

 

In March 2019, Greatland signed a Farm-in Agreement with Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest Mining Limited (ASX:NCM), to explore and develop Greatland's Havieron gold-copper deposit in the Paterson region of Western Australia. Newcrest has the right to earn up to a 70% interest in a 12-block area within E45/4701 that covers the Havieron target by spending up to US$65 million.

 

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 rns@lseg.com or visit www.rns.com.
 
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