Results of Placing
Greatland Gold plc (AIM:GGP), is pleased to announce the successful completion of the Placing announced yesterday, 24 August 2022 (the “Placing Announcement”). The Placing was oversubscribed.
Following strong demand in the bookbuild, the total gross proceeds from the Placing has increased from the minimum amount of approximately US$30 million to approximately US$35 million (approx. £29.7million). A total of 362,880,180 Placing Shares have been placed at an Issue Price of 8.2 p per New Ordinary Share. The Issue Price represents a discount of approximately 15.5 per cent to the closing mid-market share price per Ordinary Share on 23 August 2022.
Capitalised terms used but not defined in this announcement shall have the meaning given to them in the Placing Announcement.
PDMR Participation
Shaun Day, Managing Director of the Company, and Chris Toon, Chief Financial Officer, (the “Participating PDMRs”), have agreed to participate in the Placing for an aggregate total of 785,400 Placing Shares at the Issue Price. On Admission, following the issue of the Placing Shares, the interests of the Participating PDMRs in the Company’s enlarged share capital will be as follows:
|
Participating PDMRs |
Number of existing ordinary shares |
Number of Placing Shares |
Resultant shareholding |
% Share Capital as enlarged by the Placing |
|
Shaun Day |
375,000 |
714,000 |
1 ,089,000 |
0.024% |
|
Chris Toon |
110,000 |
71,400 |
1 81,400 |
0.004% |
Admission and Total Voting Rights
Application will be made for the New Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange. It is expected that Admission will become effective at commencement of trading on 31 August 2022 and settlement is expected to take place on the same date.
Following Admission of the Placing Shares, the total number of ordinary shares of the Company in issue will be 4,572,408,501. The Company does not hold any ordinary shares in treasury. Therefore the total number of voting rights in the Company will be 4,572,408,501 and this figure 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 in their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Enquiries:
Greatland Gold PLC
Shaun Day
+44 (0)20 3709 4900
