[IMG] [IMG] OBJ Limited (ASX: OBJ) provides the following update...

OBJ Limited (ASX: OBJ) provides the following update regarding the Performance Rights as approved by shareholders at the 2014 Annual General Meeting.

Tranche 1 Performance Rights

Tranche 1 Performance Rights vested on the Company receiving a royalty payment from a licence to a third party of the Company’s powered Dermaportation Technology.

The Company has been in receipt of royalty payments satisfying the above condition and accordingly the Company will be proceeding to issue the shares the subject of the performance rights shortly.

Tranche 2 Performance Rights

Tranche 2 Performance Rights vested on the Company executing a new licence agreement with a third party for the utilisation of OBJ’s ETP technology.

However, notwithstanding the satisfaction of the vesting condition, the Directors of the Company have determined that the shares the subject of the performance rights will not be issued to the relevant members of the Board.