Ann: Conversion of Performance Rights, page-2

Lord Resources Limited (ASX: LRD) (“Lord” or the “Company”)advises the issue of 3.8
million ordinary shares (Shares) to the directors of the Company arising from the conversion
of 3.8 million performance rights, which vested upon
(i)the completion of the 12 -month anniversary of the Company’s IPO (7 April 2022-7
April 2023); and
(ii)the Company’s shares achieving a volume weighted average price per share of 25%
greater ($0.25) than the Company’s IPO subscription price ($0.20), calculated over
any 20 consecutive trading days on which the Shares are recorded on ASX.This
hurdle was met on 23 May 2022.
The performance rights were approved by shareholders at a general meeting held on 15
December 2021.
As the performance rights were subject to 24 months escrow from the date of quotation of
LRD’s shares on the Official List of ASX, the Shares will be escrowed to the same date and
the Company will seek quotation of the Shares at the applicable time
Not a good look considering where we are now, thou's performance share were to easy for the director's in my opion.