ASX +security code and description
CWYAO : PERFORMANCE RIGHTS
Date the +securities the subject of this notification were issued
Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class
Were any of the +securities issued to +key management personnel (KMP) or an +associate? No
Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms
Plan: Deferred Equity Plan FY21
Type of Securities: Rights to acquire fully paid ordinary shares in the Company that convert into shares after vesting. There are no performance measures attached to the vesting of the rights.
No monetary consideration will be sought in relation to the rights granted. Nil exercise price.
Term of the rights:14 days after the date on which the annual financial results of the Company for the financial year ending 30 June 2022 are released to the ASX.
Rights vesting and exercise: Vesting of the rights will be subject to the participant being employed at the vesting date. Vested rights may be exercised at any time within 6 months of the date of vesting. Each right is exercisable into one ordinary share in the Company and will rank equally with other shares in the Company. On exercise, the Board will determine whether to provide the shares via a new issue or an on-market purchase. If not exercised within the 6 months of this date, the rights will lapse.
Any other information the entity wishes to provide about the +securities the subject of this notification
Dealing restrictions after vesting: None (subject to the Company's Share Trading Policy).
Termination of employment:Subject to the Corporations Act, the Board will determine the extent, if any, to which unvested rights will vest. Any rights that do not vest will lapse. Subject to the discretion of the Board to determine another treatment, in general rights will remain on foot.
Change of control: In the event of a change of control of the Company, the Board may in its absolute discretion resolve that any unexercised rights (whether vested or not) will be exercisable, or any restrictions on trading cease.
Bonus issues and capital reconstructions: In the event of a pro rata bonus issue of Company shares or any reorganisation of the issued capital of the Company, the number of rights will be adjusted as determined by the Board to ensure that no advantage or disadvantage accrues to holders of rights from such actions.