Conditional Grant of Share Options
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Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold and lithium exploration in Chile, announces that pursuant to its Share Option Plan 2023 ("2023 SOP"), as approved at the Company's Annual General Meeting, the Board has approved the conditional grant of 22.5 million share options priced at 1p to Directors and employees of the Company. The share options have been granted on the recommendation of the Remuneration Committee and are subject to the publication of a prospectus approved by the Financial Conduct Authority.
The share options have been conditionally granted as follows:
| Name | Role | Number of options granted | Exercise price | Total options held post issue |
|---|---|---|---|---|
| Charles Bond | Chairman | 2,500,000 | 1p | 3,763,194 |
| Sam Garrett | Chief Executive Officer | 8,000,000 | 1p | 10,021,111 |
| Martin Page | Chief Financial Officer | 5,000,000 | 1p | 5,000,000 |
| Nicholas Briers | Non-executive Director | 1,500,000 | 1p | 2,257,917 |
| Stuart Greene | Non-executive Director | 1,500,000 | 1p | 2,257,917 |
| Employees | Country Manager and geologists | 4,000,000 | 1p | 6,101,956 |
Conditional upon continuing employment with the Company, the options will vest in equal tranches over three years from grant: one third after 12 months, one third after 24 months and one third after 36 months. There are no other vesting conditions.
Following this award, and once the grant of these new options becomes unconditional, assuming no other share issuance other than the issue of 41,749,995 Ordinary 1p shares to be issued on the conversion of the Convertible Loan as announced in the fundraising announcement of 15 May 2023, the Company will have 29,402,094 share options in issue under the existing share option schemes, representing 9.9% of the existing issued share capital of the Company.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Charles Bond | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chairman | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| a) | Name | Great Southern Copper plc | ||||
| b) | LEI | 213800RF6N9WA8PZH313 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of no par value GB00BLB5BF24 | ||||
| b) | Nature of the transaction | Award of option to purchase ordinary shares of the Company. Following the transaction, Mr Bond holds 3,763,194 options to purchase ordinary shares. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume - Price | 1p | ||||
| e) | Date of the transaction | 5 October 2023 Note: the Company is not considered in a close period at the time of this transaction. | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Sam Garrett | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| a) | Name | Great Southern Copper plc | ||||
| b) | LEI | 213800RF6N9WA8PZH31 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of no par value GB00BLB5BF24 | ||||
| b) | Nature of the transaction | Award of option to purchase ordinary shares of the Company. Following the transaction, Mr Garrett holds 10,021,111 options to purchase ordinary shares. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume - Price | 1p | ||||
| e) | Date of the transaction | 5 October 2023 Note: the Company is not considered in a close period at the time of this transaction. | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Martin Page | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Financial Officer | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| a) | Name | Great Southern Copper plc | ||||
| b) | LEI | 213800RF6N9WA8PZH31 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of no par value GB00BLB5BF24 | ||||
| b) | Nature of the transaction | Award of option to purchase ordinary shares of the Company. Following the transaction, Mr Page holds 5,000,000 options to purchase ordinary shares. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume - Price | 1p | ||||
| e) | Date of the transaction | 5 October 2023 Note: the Company is not considered in a close period at the time of this transaction. | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Nicholas Briers | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non-executive Director | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| a) | Name | Great Southern Copper plc | ||||
| b) | LEI | 213800RF6N9WA8PZH31 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of no par value GB00BLB5BF24 | ||||
| b) | Nature of the transaction | Award of option to purchase ordinary shares of the Company. Following the transaction, Mr Briers holds 2,257,917 options to purchase ordinary shares. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume - Price | 1p | ||||
| e) | Date of the transaction | 5 October 2023 Note: the Company is not considered in a close period at the time of this transaction. | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Stuart Greene | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non-executive Director | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| a) | Name | Great Southern Copper plc | ||||
| b) | LEI | 213800RF6N9WA8PZH31 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of no par value GB00BLB5BF24 | ||||
| b) | Nature of the transaction | Award of option to purchase ordinary shares of the Company. Following the transaction, Mr Greene holds 2,257,917 options to purchase ordinary shares. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume - Price | 1p | ||||
| e) | Date of the transaction | 5 October 2023 Note: the Company is not considered in a close period at the time of this transaction. | ||||
| f) | Place of the transaction | Outside a trading venue |
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