Deep Yellow Limited announcement serves as a reminder to current and future holders of the listed options (code: DYLO on ASX) (Options) as to the terms of those Options, in particular the term in relation to the Acceleration Trigger.
In summary, the Options have an exercise price of 50 cents and an expiry date of 1 June 2022.
Within the Option terms as set out on the Holdings Statements, Clause (b) references the Acceleration Trigger. This means that, if the DYL fully paid shares trade above 78 cents for 20 consecutive trading days, the Company will send a notice to Option holders and the ASX within 5 business days of that occurring advising that the Acceleration Trigger has been reached. Option holders will then have 22 ASX business days from the date of the letter from the Company to exercise their Options (the New Expiry Date). A further reminder will be issued 8 ASX business days prior to that New Expiry Date. Any Options not exercised by the New Expiry Date will lapse as expired.
We further advise that, should Option holders wish to deposit funds on the exercise of their Options by EFT, rather than by cheque, a bank account has been established for that purpose. Account details are: Account Name: Deep Yellow Ltd, BSB: 036-406, Account Number: 305001
It should be noted that any exercise monies received by cheque must be cleared through the Company bank account prior to the conversion to shares. It is highly recommended that the EFT facility be used to ensure prompt receipt of funds. Given the delays being experienced by mail, completed Exercise Notices can be lodged by email to firstname.lastname@example.org using the form set out on the reverse of the Holding Statement received by Option holders from the share registry, Computershare
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