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Exercise and cancellation of unquoted performance rights

By October 4, 2017November 13th, 20172017, ASX Announcements

Wednesday, 4 October 2017 – Sydney – Exercise & Cancellation of Performance Rights

Exercise of Performance Rights
The Company wishes to notify that 724,789 Performance Rights have vested and have been exercised today pursuant to the terms of the Company’s Employee Performance Rights & Share Option Plan Rules (ESOP Rules).

Rather than issuing new shares, the Company has arranged for the transfer of issued shares to the participants in satisfaction of their entitlements. The allocated shares remain subject to a holding lock until the release of the Company’s audited FY21 accounts.

Cancellation of Performance Rights
Additionally, the Company wishes to notify that it has today cancelled a total of 391,019 Performance Rights which have been forfeited after the relevant performance and service hurdles forming part of the terms of issue were not met.

Following the transactions noted above, the following balances of unquoted Performance Rights and Options remain outstanding:

Number Descriptions
555,000 Performance Rights issued 13 October 2015 with testing dates of 1 October 2016, 1 October 2017 and 1 October 2017
636,766 Performance Rights issued 8 August 2016 with a testing date of 1 October 2019
1,449,580 Performance Rights issued 8 August 2016 with testing events based on FY17, FY18 and FY19 financial results
5,750,000 Options issued 8 August 2016 with an exercise price of 92.2 cents, exercisable after the release of the Company’s FY19 results with an expiry date of 30 June 2020