SAS 0.00% 1.6¢ sky and space company ltd

Ann: Michael Malone Appointed as Non-Executive Chairman, page-185

  1. 4,751 Posts.
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    You Can take Tranche 2 both ways but I'm pretty sure these don't have to be in order so if he can score a material package of 50million which is the number a lot of you have thrown around and I'm pretty sure a CR with Shareholders would be nearly cheating. AIMO DYOR

    SCHEDUL E 1 – TERMS AND CONDITIONS OF PERFORMANCE RIGHT S
    (a) (Vesting Conditions): The Performance Rights shall vest as follows:

    i. Tranche 1 Performance Rights: the successful launch of the first 50 satellites of its
    Pearls constellation, and the satellites to achieve operational success;

    ii. Tranche 2 Performance Rights: upon the Company securing a material financing
    package totalling A$50,000,000 as currently planned for the Pearl constellation
    deployment, and also signing a major telecommunications customer;


    iii. Tranche 3 Performance Rights: if the Company is successful in the launch of 100
    satellites into its Pearls constellation and the satellites achieve operational
    success; and

    iv. Tranche 4 Performance Rights: if the Company achieving $100,000,000 in annual
    gross revenues.
    (b) (Vesting): Upon the relevant Vesting Condition
 
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Currently unlisted public company.

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