Extension of Vesting Period of Director Options

 

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	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	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) Gervaise Heddle 9 million Callum Baxter 9 million   Price at grant: Nil Exercise Price:  3.0 pence per Ordinary Share Volume(s) Gervaise Heddle 9 million Callum Baxter 9 million
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.