The vesting conditions were in the Proxy form for the AGM. Note a Takeover would lead to an automatic vesting.
The Performance Options shall vest and become exercisable into Shares at any time on and from the earlier of the date that the Company achieves: (a) $200,000,000 of revenue in any rolling twelve (12) month period (which commences on or after 1 April 2025 and terminates on or before 30 June 2028) as verified by the Company’s auditor. The following will be excluded in the calculation of revenue: o one-off or extraordinary items; o revenue received in the form of government grants, allowances, rebates or other hand-outs; or o revenue that has been "manufactured" to achieve the performance milestone; or (b) $200,000,000 of customer cash receipts in any rolling twelve (12) month period (which commences on or after 1 April 2025 and terminates on or before 30 June 2028) as verified by the Company’s auditor.
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