High quality appointment, big value add! And just look at these...

High quality appointment, big value add! And just look at these targets for the award of his performance shares... Bullish!


...Subject to shareholder approval, Roger will receive the following Performance Shares:

Class A Performance Shares – 1,666,666
Upon the Company announcing to ASX completion of a positive scoping study in relation to the HyEnergy Zero Carbon Hydrogen Project (Project), to the reasonable satisfaction of the Independent Directors of the Company, as evidenced by a decision to proceed a prefeasibility study on the project, on or before 23 October 2022.

Class B Performance Shares – 1,666,667
Upon the Company announcing to ASX completion of a positive preliminary feasibility study in relation to the Project (PFS) which demonstrates a net present value for the Project of at least $500 million or with an internal rate of return of at least 25% (in each case using a 10% discount rate), on or before 23 October 2023.

Class C Performance Shares – 1,666,667
Upon the Company announcing that it has:
1. secured an offtake partner for a minimum of 30% of production proposed under the PFS; or
2. outright sale of the Project for a value of at least $100 million,on or before 23 October 2024.