Peter Huljich,
These Performance Rights have been granted and issued as at 30 June 2019. The issue of these Performance Rights is subject to Shareholder approval. These Performance Rights will vest in three equal tranches as follows:
i. Tranche 1 – Completion of Feasibility Study on the Manono Project;
ii. Tranche 2 – Execution of an offtake agreement for at least 25% of the product from Manono Project; and
iii. Tranche 3 – Completion of Manono project financing.
These conditions are not bad, I will vote yes for these rights.
For future performance shares, I'd prefer to issue options rather than free performance rights, or performance rights with low cash wages.
Minor shareholders should vow for our company to protect shareholders interest, imo.
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