TIDMGGP
RNS Number : 7784T
Greatland Gold PLC
29 March 2021
29 March 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
Greatland Gold plc
("Greatland" or "the Company")
Notice of General Meeting
Greatland Gold plc (LON:GGP), the London Stock Exchange AIM
listed precious and base metals exploration and development
business, announces that a General Meeting ("GM") will be held on
Thursday, 22(nd) April 2021 at 9.30am .
In accordance with guidance issued by the UK Government and
Public Health England on social distancing, and the national
Covid-19 alert levels currently imposed, the GM will be held as a
closed meeting with only two directors or senior employees each of
whom is either a shareholder, or a proxy, or a corporate
representative appointed by a shareholder. No other shareholder,
proxy or corporate representative should attend the GM in person.
The attendance by a shareholder other than the ones specifically
required to form a quorum for that meeting, is not essential.
The Notice of GM has been posted to Shareholders. A copy of the
Notice of GM will also be made available on the Company's website
at www.greatlandgold.com .
A letter from the Chairman accompanied the Notice of GM, as set
out below:
Dear Shareholder,
I am writing to you to inform you that the Board has convened a
General Meeting ('GM') of Greatland Gold plc (the "Company") on 22
April 2021 at 9.30am to consider two special resolutions. These
resolutions seek shareholder approval for limited disapplication of
pre-emption rights in relation to allotments of shares. Further
details of the GM can be found in the enclosed Notice of General
Meeting ('Notice'). A Form of Proxy is also enclosed to enable you
to vote at the GM.
I wanted to provide you with the background and context to the
resolutions proposed.
As you will recall, in the Notice of Annual General Meeting
('AGM'), which was held on Tuesday 8 December 2020, the Board had
proposed two resolutions in relation to the allotment of
shares:
-- Resolution 4, an ordinary resolution requesting authority to
allot shares on a pre-emptive basis, which was duly passed; and
-- Resolution 5, a special resolution for the limited
disapplication of pre-emption rights in relation to those
allotments, which we subsequently withdrew ahead of the AGM.
Resolution 4 was approved by shareholders and Resolution 5 was
withdrawn prior to the AGM. As Directors, should we decide to allot
new shares for cash, under Resolution 4 approved at the AGM, we
must first offer them to existing shareholders in proportion to
their existing holdings. These shareholder rights enable individual
shareholders to avoid dilution.
As with many companies listed on the London Stock Exchange,
including AIM-traded companies, it is standard practice to seek
annual, limited disapplication of pre-emption rights to allow
flexibility to allot shares on a non-pre-emptive basis. It is in
this context that the Board has undertaken a review, together with
the Company's advisers, to consider the flexibilities and amounts
that such authorities would provide to the Company. The Board has
concluded that it would be prudent to seek shareholder authority
for these authorities, limited to the amounts as set out in the
Statement of Principles published by the Pre-Emption Group in March
2015 ('Statement of Principles').
The resolutions in the Notice seek authority for the
following:
-- Limited disapplication of pre-emption rights (just under 5%
of issued share capital) for general purposes; and
-- Limited disapplication of pre-emption rights (just under an
additional 5% of issued share capital) in the event of financing an
acquisition transaction or other capital investment
At this time, the Directors have no current intention of
exercising either of these authorities (other than to provide for
the previously announced share incentives), but consider the
authorities appropriate in order to allow the Company limited
flexibility to finance business opportunities and capital
requirements should the need arise before the next AGM (December
2021).
Your Board believes that the resolutions contained in this
Notice are in the best interests of the Company and its
shareholders as a whole. Accordingly, the Directors unanimously
recommend that you vote in favour of all resolutions, as they
intend to do in respect of their own holdings.
I would be pleased to answer any questions or queries you may
have. Please do not hesitate to contact me via our Company
Secretary, Stephen Ronaldson s.ronaldson@druces.com
I would like to thank you on behalf of the Board for your
continued support of Greatland Gold.
Yours sincerely,
Alex Borrelli
Chairman
Enquiries:
Greatland Gold PLC
Shaun Day/Callum Baxter
Tel: +44 (0)20 3709 4900
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Andrew Emmott/James Keeshan
Tel: +44 (0)20 3368 3550
Berenberg (Joint Corporate Broker and Financial Adviser)
Matthew Armitt/Jennifer Wyllie/Detlir Elezi
Tel: +44 (0)20 3207 7800
Hannam & Partners (Joint Corporate Broker and Financial
Adviser)
Andrew Chubb/Matt Hasson/Jay Ashfield
Tel: +44 (0)20 7907 8500
SI Capital Limited (Joint Broker)
Nick Emerson/Alan Gunn
Tel: +44 (0)14 8341 3500
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Alexis Gore/Joe Quinlan
Tel: +44 (0)20 7618 9100
Notes for Editors:
Greatland Gold plc is a London Stock Exchange AIM-listed
(AIM:GGP) natural resource exploration and development company with
a current focus on precious and base metals.
The Company's flagship asset is the world class Havieron
gold-copper deposit in the Paterson region of Western Australia.
This asset is held in joint venture with Newcrest Mining Ltd.
Havieron is located approximately 45km's east of Newcrest's Telfer
gold mine, processing plant and existing infrastructure.
The box cut and decline to develop the Havieron ore body was
commenced in February 2021. In addition, there is a substantial
ongoing growth drilling program presently underway at Havieron
which is being undertaken in conjunction with preparation of a
Pre-Feasibility Study. Newcrest is managing the preparation of the
PFS, which is expected to be released in late calendar 2021.
The Joint Venture Agreement includes tolling principles
reflecting the intention of the parties that, subject to a
successful exploration program and feasibility study and a positive
decision to mine, the resulting joint venture mineralised material
will be processed at Telfer.
Greatland is seeking to identify large mineral deposits in areas
that have not been subject to extensive exploration previously. It
is widely recognised that the next generation of large deposits
will come from such under-explored areas and Greatland is applying
advanced exploration techniques to investigate a number of
carefully selected targets within its focused licence
portfolio.
The Company is also actively investigating a range of new
opportunities in Australia for precious and strategic metals and
will update the market on new opportunities as and when
appropriate.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NOGSESSMUEFSELD
(END) Dow Jones Newswires
March 29, 2021 02:44 ET (06:44 GMT)
Greatland Gold (LSE:GGP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Greatland Gold (LSE:GGP)
Historical Stock Chart
From Apr 2023 to Apr 2024