Greatland Gold PLC – Director Appointment and ASX Listing Update

 Yasmin Broughton to join Greatland Board ahead of ASX cross-listing

Highlights

§  Yasmin Broughton, a highly experienced company director with a particular focus on natural resources, to join the Greatland Board effective today

§  Ms Broughton brings extensive experience in corporate law, mergers and acquisitions, governance, risk management, compliance and regulation

§  Ms Broughton’s skills complement the Greatland Board ahead of the Company’s planned listing on the Australian Securities Exchange (ASX) in 2023

Greatland Gold plc (AIM: GGP; Greatland or Company) is pleased to announce the appointment of Yasmin Broughton as an Independent Non-Executive Director of the Company effective today.  Ms Broughton’s appointment further strengthens Greatland’s Board ahead of the Company’s planned listing on the ASX.

Yasmin Broughton, Non-Executive Director

Ms Broughton is a qualified lawyer with significant experience as a non-executive director across a diverse range of industries with a particular focus on natural resources.  With over 20 years of experience working with ASX-listed companies, Ms Broughton has expertise in governance, risk management, compliance and regulation.

As a corporate lawyer, Ms Broughton specialised in mergers and acquisitions, corporate finance and corporate governance at law firms, Clayton Utz and Ashurst.

Ms Broughton currently serves as a Non-Executive Director of RAC Group (Western Australia’s largest insurance provider), Synergy (Western Australia’s largest electricity generator and energy retailer) and Wright Prospecting (private resources company).  Ms Broughton has previously served as Non-Executive Director of Resolute Mining (ASX/LSE-listed gold producer), Western Areas (ASX-listed nickel producer) and the Insurance Commission of Western Australia.

Greatland Chairman, Mark Barnaba, welcomed the appointment of Ms Broughton to the Board:

“We are delighted to welcome Yasmin to Greatland’s Board of Directors.  Yasmin is an outstanding individual whose legal, governance and risk management skills will augment our Board.  Yasmin is an Australian-based director who is well placed to contribute to the next phase of Greatland’s growth, beginning with our planned ASX listing this year.”

ASX Listing

Further to previous communications, Greatland is advancing its preparations for a cross-listing on the ASX which is targeted to occur during the September 2023 quarter subject to regulatory clearance (ASX Listing).

Greatland has a high quality base of UK shareholders that have supported the Company on its growth journey to date.  Greatland remains committed to the UK market and will remain listed on the Alternative Investment Market (AIM) of the London Stock Exchange should it complete an ASX Listing.

As part of the ASX Listing, Greatland is evaluating a corporate reorganisation, so that the Greatland group would sit under a new parent company incorporated in Australia (Reorganisation).  If progressed, the Reorganisation would be affected through a scheme of arrangement under the Companies Act 2006 (UK), and would be subject to approval by Greatland’s shareholders and the UK courts.  Applications would be made for the admission of the new parent company to trading on both the ASX and AIM.

The purposes and objectives of the ASX Listing are to:

§  facilitate increased equity research and institutional investor ownership of Greatland to support greater liquidity and interest in the stock;

§  enhance Greatland’s capital markets profile; the ASX is a natural listing venue for mining companies especially those with assets located in Australia; and

§  provide Greatland with access to deeper pools of capital to support longer term growth.

Greatland considers that the Reorganisation supports:

§  better alignment of Greatland’s corporate structure with its assets and operations; all of Greatland’s projects are located in Australia, as are Greatland’s employees;

§  reduced costs and complexity associated with Greatland owning assets and conducting operations in Australia while being domiciled in the UK;

§  greater flexibility to pursue growth initiatives including corporate and asset level transactions including early-stage farm-ins and joint ventures which are continually evaluated as part of Greatland’s growth strategy; and

§  increased institutional ownership of Greatland, as certain institutional investors may be more attracted to invest in Greatland as an Australian domiciled, dual ASX and AIM-listed, company.

As noted above, if the Reorganisation is undertaken it will be effected by a scheme of arrangement under the Companies Act 2006 (UK) and will require shareholder approval, meaning that shareholders would have the opportunity to consider and vote on the Reorganisation.

Greatland appreciates that shareholders may have questions about the Reorganisation and if the Reorganisation is pursued, shareholders will be provided with detailed information to consider ahead of a shareholder vote on the matter.

While Greatland has not yet made a definitive decision as to a Reorganisation (in conjunction with an ASX Listing), it is important to note that:

§  Greatland remains committed to the AIM market and its UK shareholders; and

§  Greatland (through a new Australian parent company if the Reorganisation is undertaken) will remain listed on AIM such that shareholders will still be able to trade on AIM in British pounds sterling, and Greatland will remain subject to the AIM Rules.

Greatland will keep shareholders informed on all material developments as it continues to evaluate and progress the ASX Listing and Reorganisation, and will inform shareholders if or when they need to take any action.

Greatland Managing Director, Shaun Day, commented:

“Greatland has an ambitious growth agenda and the appointment of Yasmin Broughton to our Board is timely in the lead up to our planned listing on the ASX.

While we consider that a listing on the ASX is important to supporting the creation of long-term shareholder value, the UK remains an important market for Greatland and accordingly our shareholders will continue to be able to trade on the LSE’s AIM.

Further, the potential simplication of the organisational structure would remove some of the current costs and complexity associated with having operations in Australia while being corporately domiciled in the UK.

Importantly, the ASX listing is intended to provide a platform to attract additional investor interest in Greatland, which would be positive for our existing shareholders.”

Additional disclosures regarding Ms Broughton’s appointment

The following details in relation to the appointment of Ms Broughton, aged 50, are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Save as set out above, no further information is required to be disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Ms Broughton.

Contact

For further information, please contact:

Greatland Gold plc

Shaun Day, Managing Director  |  [email protected]