Ann: Notice of Annual General Meeting/Proxy Form, page-2

Flash is wanting 1,163,136 zepo's under the LTI plan.
Bruno wants 568,246

Qualifying period 1/1/2024 to 31/12/2026.

Open pice at 1/1/2024 was 53.5

For both directors 50% of these zepo's will vest if the SP performs better than 49.9% of a pool of ASX listed resource juniors over the 3 year period. (Relative TSR basis).

The other 50% of the zepo's will vest according to this table (Absolute TSR basis). So if the SP rises by 42.5% or more in the 3 year assessment period they will get 50% of their zepo's. So if the SP is 76.25c on 31/12/2026 then they will get 50% of their respective zepo's. How cool is that!

I'm feeling that the first 50% (Relative TSR) will be harder to achieve than the latter 50% (Absolute TSR).



Prolly should also advise their respective remuneration relevant to their zepo calculation.




....as for the STI, I think this extract sums it up.....what management calls "challenging goals", shareholders call it "easy targets with ill-defined measurement paramaters". The STI is calculated on a 12 month basis 1/1/24 to 1/1/25.




Also they are seeking to issue (via potential future placement) an additional 10% of shares, which is over and above the annual 15% placement capacity. SO they are lining up to potentially issue 25% of the number of shares on issue without further approval from shareholders.