16:15 Fri 11 Apr 2025
Greatland Gold PLC - ASX listing process update

Greatland Gold plc (AIM: GGP)
NEWS RELEASE |
ASX listing process update
Greatland Resources Limited targeting listing on ASX and AIM from
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE
Greatland Gold plc (AIM:GGP) (Greatland Gold or the Company) is pleased to provide an update in relation to the proposed cross-listing of the Greatland Gold group on the Australian Securities Exchange (ASX), (ASX Listing).
In conjunction with the ASX Listing, and as previously announced, a corporate reorganisation is proposed which would result in Greatland Gold and its subsidiaries (collectively the Greatland Group) sitting under a new Australian-incorporated parent company, Greatland Resources Limited (Greatland Resources), (Reorganisation). The Reorganisation will be effected through a
The documents to be filed with the
A prospectus will be lodged by Greatland Resources with the Australian Securities & Investments Commission (ASIC) and the ASX in respect of the ASX Listing. Greatland Resources will also publish an AIM Schedule 1 and Appendix to seek the admission of the Greatland Resources shares to trading on AIM (AIM Admission). The ASX Listing process and AIM Admission of Greatland Resources are currently expected to be completed in late
No action is required by Greatland Gold shareholders at this time. Subject to approval of the
Rationale for the ASX Listing and Reorganisation
As previously announced, the ASX Listing is intended to be undertaken with the objectives of:
§ Enhancing the Greatland Group's capital markets profile; the ASX is considered a natural listing venue for mining companies, especially those whose core assets are located in
§ Facilitating greater equity research coverage and institutional ownership, as well as index participation in
§ Providing the Greatland Group with access to additional deep pools of capital to support longer-term growth, and greater flexibility to pursue asset and corporate transactions.
The Reorganisation associated with the ASX Listing is expected to deliver the following additional benefits:
§ Better alignment of the Greatland Group's corporate structure with its assets and operations; all of the group's projects are located in
§ Reduced costs and complexity associated with owning assets and conducting operations in
§ Greater flexibility to pursue new investment and acquisition opportunities.
§ The potential for increased institutional ownership, as certain institutional investors may be more attracted to invest in Greatland Resources as an Australian domiciled, ASX listed, company.
Greatland Gold Managing Director,
"We are delighted to have formally begun the process today for our listing on the ASX."
"The acquisition of Telfer and Havieron, completed in
"The ASX listing should enhance our capital markets profile and help facilitate increased research coverage and greater institutional ownership to support improved liquidity and interest in our shares. While we see the ASX listing as important in supporting the continued growth of long-term shareholder value, we remain committed to the AIM market and shareholders will continue to be able to trade Greatland Resources shares on AIM."
"We look forward to the support of our existing shareholders as we progress the ASX and AIM listing of Greatland Resources."
Summary of the Reorganisation
§ Company structure: There will be no direct impact on the Greatland Group's operations from the Reorganisation, with the group continuing to pursue an operating strategy which is focused on renewing and developing an integrated Telfer-Havieron mining and processing operation, to create a generational gold copper mining complex. Specifically: there will be no change to the Greatland Group's assets as a result of the
§ Listing venues: Greatland Resources is expected be listed on both the ASX and AIM under the "GGP" code from late
§ Shares exchange: Subject to shareholder and Court approval of the
§ Consolidation: to reflect Greatland's position as a significant Australian gold-copper producer, an effective share consolidation will occur as part of the
§ Directors' recommendation: The Company's Directors unanimously recommend shareholders to vote in favour of the Reorganisation at the Scheme Meetings, and intend to vote in favour in respect of their own shareholdings, which currently total 46,699,582 shares collectively, representing approximately 0.36% of Greatland Gold shares on issue.
§ Shareholders' voting undertakings: The Company's three largest shareholders have given undertakings to vote the shares they hold at the time of the Scheme Meetings in favour of the Reorganisation at the Scheme Meetings, together currently comprising approximately 35% of shares on issue. Those shareholders are Newmont NOL Pty Ltd (Newmont) (currently the holder of 2,669,182,291 shares), Wyloo Consolidated Investments Pty Ltd (Wyloo) (currently the holder of 1,105,136,117 shares), and Tembo Capital Holdings Guernsey Ltd (currently the holder of 796,770,833 shares).
Key indicative dates
Key indicative dates for the Reorganisation and ASX Listing are as follows.
Event |
Date |
Lodgement of |
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ASX Listing - Australian prospectus lodged by Greatland Resources with ASIC and ASX |
Late |
AIM Admission - Schedule 1 and Appendix published by Greatland Resources |
Late |
ASX Listing - Offer (if applicable; refer below) |
|
|
|
|
|
|
|
Admission of Greatland Resources to the Official List of the ASX |
|
Cancellation of Greatland Gold shares to trading on AIM |
|
Admission of Greatland Resources shares to trading on AIM, dealings commence |
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Quotation of Greatland Resources on the ASX, dealings commence |
|
These dates are indicative only and subject to change. In particular, but without limitation, certain dates are subject to confirmation by the
Other information
Greatland Gold and Greatland Resources have appointed Simmons & Simmons LLP as its English law legal advisor, and King & Wood Mallesons as its Australian law legal advisor, in respect of the Reorganisation, ASX Listing of Greatland Resources and Greatland Resources' admission to AIM.
No decision has been made yet as to whether an offer of shares will be conducted as part of the ASX Listing. The Company is considering the merits of a modest offering of new shares in Greatland Resources to assist in creating interest and a liquid market for its shares on ASX. In the event the Company decides to undertake such an offering, it would be of no more than 2.5% of the issued share capital of Greatland Resources, there will be no general offer to the public in
A lock in and orderly market agreement was entered into between the Company and Newmont dated
Contact
For further information, please contact:
Greatland Gold plc
Nominated Advisor
SPARK Advisory Partners
Corporate Brokers
Canaccord Genuity |
SI Capital Limited |
Media Relations
About Greatland
Greatland is a gold and copper mining company listed on the London Stock Exchange's AIM Market (LSE:GGP) and operates its business from
The Greatland portfolio includes the 100% owned Telfer gold-copper mine, the adjacent 100% owned world class Havieron gold-copper project (under development), and a significant exploration portfolio within the surrounding region. The combination of Telfer and Havieron provides for a substantial and long life gold-copper operation in the
Greatland is targeting a cross listing on the ASX in
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