Essential Metals : Notification regarding unquoted securities - ESS

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Announcement Summary

For personal use only

Entity name

ESSENTIAL METALS LIMITED

Date of this announcement

Wednesday November 24, 2021

The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
ESSAZ	PERFORMANCE RIGHTS EXPIRING	795,918	24/11/2021
	30-JUN-2025

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 1 - Entity and announcement details

For personal use only

1.1 Name of entity

ESSENTIAL METALS LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2	Registered number type	Registration number
ABN	44103423981
1.3	ASX issuer code
ESS

1. The announcement is New announcement
2. Date of this announcement

24/11/2021

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

For personal use only

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

has an existing ASX security code ("existing class")

Notification of Issue, Conversion or Payment up of Unquoted

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

For personal use only

ASX +security code and description

ESSAZ : PERFORMANCE RIGHTS EXPIRING 30-JUN-2025

Date the +securities the subject of this notification were issued

24/11/2021

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class

Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP		Name of registered holder	Number of +securities
			795,918
Timothy Spencer		Mr Timothy Gerard Spencer ATF

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

https://www.asx.com.au/asxpdf/20211022/pdf/451ykyrgb0wy3c.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

795,918 unlisted Performance Rights expiring on 30 June 2025 with the following performance hurdles tested on 30 June 2024:

• 50% of the granted Performance Rights will be subject to a vesting condition, whereby the Absolute Total Shareholder Return (TSR) must exceed 25% over the performance period commencing on 1 July 2021 and ending on 30 June 2024.
• 50% of the granted Performance Rights will be subject to a vesting condition based on Relative Shareholder Return, whereby the Company's TSR must be greater than the TSR's of 70% of the 10 peer group of companies over the performance period commencing on 1 July 2021 and ending on 30 June 2024. This vesting condition can only be met if the Company's TSR is positive.

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Issue details

Number of +securities

795,918

For personal use only

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