2 hours to go, page-5

Good question notlistening14 –

Once the Rights have been deemed to be vested – because the Performance criteria has been met - the Rights’ holder – in order to exercise his Rights must deliver to the Company a written notice of Exercise.
(Refer to Birimian’s “Schedule 2 - Terms and Conditions of the Performance Rights Plan” para. 4.(c) on pages 27/28 of the Notice of GM announced to the ASX on 25 May 2016.)

IF WW has lodged his exercise Notice recently, then the Co. of course will have the obligation to issue shares to him – in satisfaction of his exercising his Rights.

However I cannot find any timeline by when the Co. has to issue these shares – after receiving a Notice of Exercise - in either satisfaction of the exercise of Performance Rights or Options.

What I have found is that the closest # of days the Co. got to issuing shares, AFTER receiving shareholder APPROVAL to do so – and in satisfaction of the exercise of Options – was 13 calendar days, per the Ann to the ASX on 30 June 2016. (The Shareholder approval was given @ a GM of shareholders on 17^th June.)
But that sounds like more an event of haste – i.e. to get the shares issued by the last day of the financial year.

Back on 13th Feb. WW received shares – in satisfaction of his exercising 625,000 Performance Rights – he having achieved the Milestone required - but again there is no documentation to evidence the date that he lodged his relevant Notice of Exercise.

So I guess the only person that can tell you whether WW’s family interests have been issued more shares very recently (Note: none of his holdings of Unlisted Options or Performance Rights are personal – they are all held indirectly by family interests) – is Bev Nichols (“BN”), the Co. Secretary.

As for the general public – they will know when BN lodges 2 Anns with the ASX –
1) of a Change of Director’s Interest Notice (Appendix 3Y) and
2) of an Appendix 3B and Secondary Trading Notice (that virtually says the same as an Appendix 3Y,
but excludes the names of the Option or Rights holders.

Therefore, for WW’s votes to count – in respect of shares issued to “him” in recent days - to satisfy “his” exercising of Rights or Options a few days earlier –

they may well do! –

even if BN doesn’t lodge the appropriate ANNs with the ASX before next week’s Meeting!

IMO “they may well do” could apply - provided Computershare (“CS”) has been notified by 11am WST next Monday that such shares have been issued to “him”, as CS will be providing the count of votes cast at the EGM.
i.e. it is my understanding CS doesn’t just record the shareholdings bought and sold on the ASX – they also record the holdings of shares or Options ISSUED but yet to be ASX-listed.
I could be wrong on that particular score though, so suggest you phone CS.
If I am – and BN hasn’t made the 2 ANNs to the ASX by Monday then that could mean WW may well be precluded from including in his votes the shares issued to “him“ in respect of his Options &/or Performance Rights he’s recently exercised.

As most HC posters are not Philadelphia lawyers – then I may well have “lost” you, nl14 - and other readers - half way thru your reading my spiel above.But as it’s taken me over 2 hours to research & compile all this info – I trust it is helpful to those interested. TG.