VRC 25.0% 0.5¢ volt resources limited

This is from October 2022, 18 months after this will be around...

  1. 106 Posts.
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    This is from October 2022, 18 months after this will be around April 2024 but could be as long as 30 months. Best put the Kettle on.

    The Company has agreed, subject to obtaining Shareholder approval, to grant: • 70,000,000 Performance Rights to Mr Trevor Matthews (or his nominee), pursuant to Resolution 7; • 70,000,000 Performance Rights to Mr Asimwe Kabunga (or his nominee), pursuant to Resolution 8; and • 10,000,000 Performance Rights to Mr Giacomo Fazio (or his nominee), pursuant to Resolution 9, on the terms and conditions set out below. Each Performance Right is a right to subscribe for one Share, subject to the satisfaction of the applicable vesting condition. The Performance Rights proposed to be granted to each Director will have the following vesting conditions: • 25% of the Performance Rights will be subject to the condition that: • the person remains as a Director as at the date that is 18 months after the Meeting; and • at any time between the Meeting and the date that is 30 months after the Meeting, the VWAP of Shares calculated over any 5 consecutive trading day period on which trades in Shares were recorded is $0.05 or more, (Series 1 Performance Rights); • 25% of the Performance Rights will be subject to the condition that: • the person remains as a Director as at the date that is 24 months after the Meeting; and • at any time between the Meeting and the date that is 30 months after the Meeting, the VWAP of Shares calculated over any 5 consecutive trading day period on which trades in Shares were recorded is $0.075 or more, (Series 2 Performance Rights); and • 50% of the Performance Rights will be subject to the condition that: • the person remains as a Director as at the date that is 30 months after the Meeting; and • at any time between the Meeting and the date that is 30 months after the Meeting, the VWAP of Shares calculated over any 5 consecutive trading day period on which trades in Shares were recorded is $0.10 or more, (Series 3 Performance Rights).
 
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