Greatland Gold plc (LON:GGP), the London Stock Exchange AIM quoted precious and base metals exploration and development business, announces that the Company was notified yesterday that Paul Johnson, Non-Executive Director of Greatland, purchased 2,260,031 ordinary shares of 0.1 pence each (“Ordinary Shares”) in the Company yesterday at an average price of 0.24 pence per share.
Following this purchase Paul Johnson has a beneficial interest in 56,666,667 Ordinary Shares, representing 4.75 per cent of the issued share capital of the Company.
Subject to shareholder approval at the General Meeting scheduled for 11 May 2016, Paul Johnson has also elected to accept 10,000,000 Greatland Ordinary Shares as part of the salary sacrifice proposal announced on 20 April 2016. In addition, Paul Johnson is participating in the Company’s placing, announced on 22 April 2016, with an anticipated acquisition of 13,333,333 Greatland Ordinary Shares at a cost of £25,000, subject to shareholder approval at the same General Meeting.
Should both issues of Ordinary Shares be approved by shareholders, Paul Johnson (and his spouse) will then have a beneficial interest in 80,000,000 Greatland Ordinary Shares, representing 5.39 per cent of the Company’s issued share capital, as enlarged as a result of the placing and issue of Ordinary Shares issued pursuant to the salary sacrifice proposal.