Greatland Gold PLC Grant of Options (3853O)

TIDMGGP

RNS Number : 3853O

Greatland Gold PLC

18 August 2017

18 August 2017

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Greatland Gold plc

("Greatland" or "the Company")

Grant of Options

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, announces the grant of 60,000,000 new options to directors and staff representing in aggregate 2.9% of the existing issued share capital of the Company.

Each option has a 6 month vesting period and entitles the holder upon exercise to one ordinary share of 0.1 pence in the capital of the Company ("Ordinary Shares"). All options have a life of three years from the vesting date at an exercise price of 0.7 pence per share. The exercise price represents a 29% premium to the 5 day VWAP of 0.544 pence as at the close of business on Thursday, 17 August 2017. All options will vest immediately upon a change of control event.

Gervaise Heddle, Chief Executive Officer, and Callum Baxter, Chief Technical Officer, will both receive 17.5 million options each, Alex Borrelli, Non-Executive Chairman, will receive 7.5 million options, Michael McNeilly, Non-Executive Director will receive 5 million options, and 12.5m options will be allocated to the Company's UK and Australian based employees.

Following the grant of options to directors, the resultant total directors' shareholdings are as follows:

 
 Director           Position             Shares     % of share    Options 
                                          Held        capital       Held 
                                                      of the 
                                                      Company 
-----------------  -----------------  -----------  -----------  ----------- 
 Alex Borrelli      Chairman           13,000,000      0.8%      46,500,000 
-----------------  -----------------  -----------  -----------  ----------- 
 Michael            Non-Executive 
  McNeilly*          Director             Nil          0.0%      19,000,000 
-----------------  -----------------  -----------  -----------  ----------- 
 Gervaise           Chief Executive 
  Heddle             Officer           3,000,000       0.2%      70,500,000 
-----------------  -----------------  -----------  -----------  ----------- 
                    Chief Technical 
 Callum Baxter**     Officer           24,572,951      1.5%      70,500,000 
-----------------  -----------------  -----------  -----------  ----------- 
 

*Michael McNeilly is the Chief Executive Officer of Metal Tiger plc. Metal Tiger plc holds 87,500,000 shares of Greatland Gold plc, or 4.3% of the share capital of the Company, and holds 85,000,000 warrants that entitle the holder upon exercise to one Ordinary Share.

**Callum Baxter is the Chairman and Chief Executive Officer of Starvest plc. Starvest plc holds 85,333,333 shares of Greatland Gold plc or 4.1% of the share capital of the Company.

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   Chairman 
        Name                            --------------  ----------------------- 
                                         Michael         Non-Executive Director 
                                          McNeilly 
                                        --------------  ----------------------- 
                                         Gervaise        Chief Executive 
                                          Heddle          Officer 
                                        --------------  ----------------------- 
                                         Callum Baxter   Chief Technical 
                                                          Officer 
                                        --------------  ----------------------- 
                                         Gemma Cryan     Geology Manager 
                                        --------------  ----------------------- 
---  -------------------------------  ------------------------------------------- 
 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                              N/A 
---  -------------------------------  ------------------------------------------- 
 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               Ordinary Shares of 0.1 
       financial instrument             pence each 
---  -------------------------------  ------------------------------------------- 
 b)   Identification code              GB00B15XDH89 
---  -------------------------------  ------------------------------------------- 
 c)   Nature of the transactions       Grant of options over Ordinary 
                                        Shares 
---  -------------------------------  ------------------------------------------- 
 d)   Price(s) and volume(s)           Price at grant: Nil 
                                        Exercise Price: 0.7 pence 
                                        per Ordinary Share 
                                        Volume(s) Alex Borrelli       7.5 million 
                                        ------------------  ------------- 
                                         Michael McNeilly    5 million 
                                        ------------------  ------------- 
                                         Gervaise Heddle     17.5 million 
                                        ------------------  ------------- 
                                         Callum Baxter       17.5 million 
                                        ------------------  ------------- 
                                         Gemma Cryan         5 million 
                                        ------------------  ------------- 
---  -------------------------------  ------------------------------------------- 
 e)   Aggregated information           Nil, grant of options only 
       - Aggregated volume 
       - Price 
---  -------------------------------  ------------------------------------------- 
 f)   Date of the transactions         17 August 2017 
---  -------------------------------  ------------------------------------------- 
 f)   Place of the transactions        Off-market 
---  -------------------------------  ------------------------------------------- 
 

Enquiries:

Greatland Gold PLC

Callum Baxter/Gervaise Heddle

Tel [phone]

Email: [e-mail]

www.greatlandgold.com

SPARK Advisory Partners Limited (Nominated Adviser)

Mark Brady/Sean Wyndham-Quin/James Keeshan

Tel [phone]

SI Capital Limited (Broker)

Nick Emerson

Tel [phone]

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Ana Ribeiro/Alexis Gore

Tel [phone]

Notes for Editors:

Greatland Gold plc is London listed (LON:GGP) natural resource exploration and development company with a current focus on gold and strategic metal exploration projects.

The Company has six main projects; four situated in Western Australia and two in Tasmania. All projects are 100% owned by Greatland or Greatland has the right to take 100% ownership.

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 company news service from the London Stock Exchange

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August 18, 2017 04:01 ET (08:01 GMT)