Issue of Shares and Director/PDMR Shareholding
Updated : 23:19
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED, ("MAR") AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR. ON PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
7 November 2022
Great Southern Copper plc
("GSC" or the "Company")
Issue of Shares and Director/PDMR Shareholding
Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold exploration in Chile, announces that it has issued new ordinary shares of 1 penny each ("New Ordinary Shares") to Charles Bond, Chairman of Great Southern Copper, in accordance with the terms of Mr. Bond's letter of appointment whereby it was agreed his salary will be paid quarterly in ordinary shares.
The New Ordinary Shares represent the share compensation due from 1st July 2022 to 30 September 2022. A total of 232,784 New Ordinary Shares have been issued. The details of the issuance are set out below:
Period | Value of the share issuance | Number of New Ordinary Shares Issued | Number of Ordinary Shares held following the issuance | Percentage of the enlarged Ordinary Share Capital |
1 July 2022 to 30 September 2022 | £7,328 | 232,784 | 969,149 | 0.35% |
Admission and Total Voting Rights
Application will be made for the 232,784 New Ordinary Shares, which will rank pari passu in all respects with the existing ordinary shares in the Company, to be admitted to the Standard List segment of Official List and to trading on the main market of the London Stock Exchange plc, which is expected to occur on or around 8.00 a.m. on 11 November ("Admission").
Following Admission of the New Ordinary Shares, the total number of ordinary shares and voting rights in the Company will be 213,045,249. The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Details of the person discharging managerial responsibilities / person closely associated | ||||
Name | Charles Bond | |||
Reason for the notification | ||||
Position/status | Chairman | |||
Initial notification /Amendment | Initial notification | |||
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
Name | Great Southern Copper plc | |||
LEI | 213800RF6N9WA8PZH313 | |||
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 | ||||
Description of the financial instrument, type of instrument | ordinary shares of 1 pence each | |||
Identification code | ISIN: GB00BLB5BF24 | |||
Nature of the transaction
| Shares issued in lieu of salary | |||
Price(s) and volume(s) | ||||
Price(s) | Volume(s) | |||
3.1479p* | 232,784 | |||
* volume weighted average share price from 1 July 2022 to 30 September 2022 | ||||
Date of the transaction | 7 November 2022 | |||
Place of the transaction | Outside of trading venue - issue of new ordinary shares | |||
Enquiries:
Great Southern Copper plc | |
Sam Garrett, Chief Executive Officer | +44 (0)20 7618 9100 |
SI Capital Limited | |
Nick Emerson | +44 (0)14 8341 3500 |
Gracechurch Group | |
Harry Chathli, Alexis Gore, Henry Gamble | +44 (0)20 4582 3500 |
Notes for Editors:
About Great Southern Copper
Great Southern Copper is a mineral exploration company focused on copper-gold deposits in Chile. The Company has the option to acquire rights to 100% of two projects that are prospective for large porphyry style copper-gold deposits in the underexplored coastal belt of Chile, a globally significant mining jurisdiction and the world's largest copper producer.
The two projects comprise the San Lorenzo Project, northeast of the coastal town of La Serena in northern Chile, and the Especularita Project located approximately 170km to the south of the San Lorenzo project. The two early-stage Cu-Au projects are within the same metallogenic belt as major coastal producing operations including Teck's Andacollo copper and gold mine. Significant historical small-scale and artisanal workings for both copper and gold are readily evident in both exploration project areas.
Great Southern Copper is strategically positioned to support the global market for copper, a key metal in the clean energy transition around the world. The Company is planning an exploration and evaluation two-year work programme for the copper-gold projects, targeting principally large tonnage, low to medium grade porphyry style Cu-Au deposits.
Further information on the Company is available on the Company's website: https://gscplc.com
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