Exercise of performance rights

The Company hereby confirms that 366,018 Performance Rights have vested and have been exercised today pursuant to the terms of the Company’s Employee Performance Right & Share Option Plan Rules.

Rather than issuing new shares, the Company has arranged for the transfer of existing 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.

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

Number Descriptions
529,000 Performance Rights issued 13 October 2015 with testing dates of 1 October 2016, 1 October 2017 and 1 October 2018
403,383 Performance Rights issued 8 August 2016 with a testing date of 1 October 2019
882,578 Performance Rights issued 4 October 2017 with a testing date of 1 October 2020
1,083,562 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