14th Jul 2020 14:19
14 July 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")
Extension of Vesting Period of Director Options
Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, announces that the Company and executive directors Gervaise Heddle and Callum Baxter have agreed to extend the vesting period for options granted to both executive directors on 26 September 2019 by approximately nine months.
On 26 September 2019, the following options were granted to Gervaise Heddle, Chief Executive Officer, and Callum Baxter, Chief Technical Officer:
Director | Position | Number of Options | Exercise Price | Expiry Date |
Gervaise Heddle | Chief Executive Officer | 9,000,000 9,000,000 | 2.5p 3.0p | 25 Sep 2023 |
Callum Baxter | Chief Technical Officer | 9,000,000 9,000,000 | 2.5p 3.0p | 25 Sep 2023 |
The Company and both executive directors have agreed to extended the vesting date for the options listed above from 25 September 2020 to 5 July 2021. All other terms of the options including the expiry date remain unchanged.
The amendment of the terms of the share options is a related party transaction under the AIM Rules. The independent directors, being all of the directors other than Gervaise Heddle and Callum Baxter, consider, having consulted with SPARK Advisory Partners Limited, the Company's nominated adviser, that the amendments to the terms of the share options are fair and reasonable insofar as 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.
Extension of vesting period of options over Ordinary Shares
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) |
Name
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| ||||||||
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 vesting period of options over Ordinary Shares | ||||||||
d) | Price(s) and volume(s) | Price at grant: Nil Exercise Price: 2.5 pence per Ordinary Share Volume(s)
Price at grant: Nil Exercise Price: 3.0 pence per Ordinary Share Volume(s)
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e) | Aggregated information - Aggregated volume - Price | Nil, extension of vesting period of options only | ||||||||
f) | Date of the transactions | 14 July 2020 | ||||||||
f) | Place of the transactions | Off-market | ||||||||
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 (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.
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.
Related Shares:
Greatland Gold