OZL 0.00% $26.44 oz minerals limited

Ann: Chief Executive Officer Share Purchases , page-2

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  1. 1,753 Posts.
    Bravo!

    Here it is.

    OZ Minerals has established a regular share purchase program to enable Mr Terry Burgess,
    the recently appointed Chief Executive Officer, to apply a portion of his monthly after tax
    salary in regularly acquiring shares in OZ Minerals on ASX at the prevailing market rate.

    The purpose of the program is to enable a trustee for Mr Burgess to acquire a material
    shareholding in the Company over time, thereby creating greater alignment with the
    interests of OZ Minerals’ shareholders, through regular purchases of shares on market in a
    manner that will not breach the insider trading provisions of the Corporations Act.

    Mr Burgess has elected to apply $10,000 of his after tax monthly salary in having
    OZ Minerals’ shares purchased in this manner. The first purchase under the plan is due to
    occur later this month.

    This program is not an incentive scheme, does not operate to allow income tax deferral for
    the CEO and provides no discount from the market price for OZ Minerals shares acquired
    on ASX on the relevant day each month.

    Shares acquired under the program are subject to a trading restriction and Mr Burgess
    cannot sell or deal with those shares without prior approval from the Chairman.

    The Company has established an arrangement with Goldman Sachs JB Were Pty Ltd,
    pursuant to which they will independently acquire shares on behalf of the trustee on a
    monthly basis (except during the black out periods applicable under the Company’s
    Securities Trading Policy). Mr. Burgess will pay the brokerage cost on these transactions.
    Appropriate ‘Chinese wall’ arrangements have been established by both the Company and
    the Broker that are designed to ensure that the people executing the purchase are
    quarantined from price sensitive non-public information regarding the Company, and if at
    any time those persons do come into possession of such information the mandate will be
    suspended while that situation continues.

    The Board may, from time to time, invite other senior executives who are routinely privy to
    material price sensitive information regarding OZ Minerals and therefore limited in their
    opportunities to purchase shares in OZ Minerals, to participate in the program.

    The Board strongly endorses this program and Mr Burgess’ commitment to using his own
    funds to acquire shares in OZ Minerals in this manner.
 
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