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LONDON - Greatland Gold plc (AIM:GGP), a precious and base metals exploration and development company, announced the issuance of new performance rights to senior team members under its employee share plan. This action aligns with the intentions outlined in its Admission Document dated September 10, 2024.
The company granted an additional 10,894,764 FY25 Performance Rights on top of the first tranche of 39,855,249 rights issued on October 16, 2024. These rights are tied to performance targets that will be evaluated at the end of the fiscal year 2027, with vesting contingent upon employees remaining with the company until June 30, 2027.
Greatland also awarded 28,677,080 Acquisition Special Exertion Performance Rights to recognize the significant effort involved in the acquisition of Havieron and Telfer. These rights are subject to performance targets and vesting dates, with the first tranche vesting on the date of grant, April 25, 2025.
The performance targets for the FY25 rights include various metrics such as relative shareholder return against peers and indices, project development milestones, and sustainability initiatives. The Acquisition Special Exertion Rights’ vesting is linked to the company’s share price performance post-financial statement releases in 2025 and 2026.
Following these grants, Greatland Gold has a total of 13,079,294,602 shares issued and 680,367,084 options granted over shares issued to employees and directors. The company’s Managing Director, Shaun Day, and Chief Financial Officer, Monique Connolly, received awards as part of these grants, which were deemed fair and reasonable by the independent directors after consulting with the Company’s Nominated Adviser, SPARK Advisory Partners Limited.
This issuance of share options is part of Greatland Gold’s strategy to incentivize its workforce and align their interests with those of the shareholders. The information is based on a press release statement from Greatland Gold plc.
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