Gold Road Resources director Duncan Gibbs boosts stake through performance rights

Duncan Gibbs, a director at Gold Road Resources Limited, significantly increased his indirect stake in the company on September 29, 2025. This change stemmed from the vesting and exercise of Unlisted LTI Performance Rights (vesting 2023-2025, 2024-2026, and 2025-2027) and Unlisted STI Performance Rights (vesting 2025). The exercise resulted in the acquisition of 1,425,792 fully paid ordinary shares at nil consideration, bringing his total indirect holding to 2,999,597 fully paid ordinary shares. This event coincided with the scheme becoming effective for Gold Fields Limited's proposed acquisition of Gold Road Resources.

In related movements, multiple substantial holders reported changes in their holdings. JPMorgan Chase & Co. and its affiliates increased their voting power from 5.51% to 6.87%. BlackRock Group ceased to be a substantial holder on September 26, 2025. First Sentier Group Limited and Mitsubishi UFJ Financial Group, Inc. reported an increase in voting power from 5.85% to 7.23%. Morgan Stanley and its subsidiaries also increased their voting power from 5.39% to 6.67%, while State Street Corporation and its subsidiaries ceased to be a substantial holder. These shifts indicate active trading and ownership restructuring within Gold Road Resources Limited.