Issue of Shares and Director/PDMR Shareholdings
No summary for this filing – the full text is below.
Select text to share a quote on X · sign in to keep highlights & notes in your GSCU notes
Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold exploration in Chile, announces that it has issued 1,168,580 new ordinary shares of 1p 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.
In addition, the Company has issued 2,862,583 New Ordinary Shares in respect to the following:
- 1,272,250 at £0.012 per share issued to a consultant in lieu of services provided during 2024.
- 1,590,333 at £0.012 per share as part payment to the vendors of the San Lorenzo project under an option agreement with the Company.
The New Ordinary Shares issued to Mr. Bond represent the share compensation due from 1 April 2024 to 30 September 2024. The details of the issuance are set out below:
| Period | Value of share issuance GBP£ | Number of New Ordinary Shares issued | Number of ordinary shares held following the issuance | Percentage of the enlarged ordinary share capital |
|---|---|---|---|---|
| 1/04/2024 - 30/06/2024 1/07/2024 - 30/09/2024 | £8,568 £8,002 | 646,611 521,969 | 6,570,230 | 1.28% |
Admission and Total Voting Rights
Application has been made for the 4,031,163 New Ordinary Shares, which will rank pari passu in all respects with the existing ordinary shares in the Company, and will be admitted to the Official List and to trading on the Main Market of the London Stock Exchange, which is expected to occur on or around 8.00 a.m. on 21 November 2024 ("Admission"). In addition, a further 606,949 New Ordinary Shares will be applied for in relation to the issuance to Mr. Bond in January and April 2024 as previously announced.
Following admission, the total number of issued shares and the total number of voting rights in the Company is 514,643,990. The above figure should 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
| 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 1 pence each GB00BLB5BF24 |
| b) | Nature of the transaction | Shares issued in lieu of salary |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1.325p* 646,611 1.533p** 521,969 * weighted average share price from 1 April 2024 to 30 June 2024 ** weighted average share price from 1 July 2024 to 30 September 2024 |
| e) | Date of the transaction | 21 November 2024 |
| f) | Place of the transaction | Outside of trading venue - issued of new ordinary shares |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.