My understanding is the performance shares will be assessed in 3 years time from issue date 14/7/23 and converted into ordinary shares if ...
The company share price rises relative to it's peers and it's absolute performance.
example :
So if all small cap oilers rose 200 percent including CVN (13 c to 39 c) during that period to it would be no conversion for half of those shares but there may a half payment for the absolute rise component.
So at this stage they have no effect on issued shares.
I suggest you contact the company direct for clarification.
Ann: Grant of Performance Rights, page-18
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