Great Southern Copper issues share options to top brass

LONDON - Great Southern Copper (NYSE:SCCO) plc (LSE:GSCU), a company engaged in copper-gold and silver exploration in Chile, has awarded a total of 24,800,000 share options to its directors and employees under the Share Option Plan 2023 as ratified by the company’s Annual General Meeting. The options, priced at 2.9p each, are set to vest in three years, contingent on the ongoing employment of the recipients within the company.

The share options have been distributed among several key members of the company’s leadership, including Chairman Charles Bond, who received 3,000,000 options, bringing his total held to 5,500,000. Chief Executive Officer Sam Garrett was granted 8,000,000 options, increasing his total to 16,000,000. Chief Financial Officer Martin Page now holds 10,000,000 options after being awarded 5,000,000. Non-executive Directors Nicholas Briers and Stuart Greene each received 2,500,000 options, now holding 4,000,000 each. Additionally, a collective total of 3,800,000 options were granted to the country manager and geologists.

Following this distribution, Great Southern Copper’s total issued share options now amount to 48,161,611, which equates to 8.4% of the existing issued share capital of the company. The share options are part of the company’s compensation strategy as per the recommendations of the Remuneration Committee.

Great Southern Copper’s focus on the exploration of copper-gold-silver deposits in Chile positions the company within a significant mining jurisdiction. Chile is renowned as the world’s top copper producer and the second-largest producer of lithium. The company is actively involved in exploration activities, aiming to discover large-scale copper-gold deposits in the coastal belt of Chile, which is known for its significant mining operations and infrastructure.

The recent grant of share options is seen as a move to align the interests of the company’s leadership with the long-term goals of the company and its shareholders. The information regarding the grant of share options is based on a press release statement and is now considered to be in the public domain.

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