In accordance with listing rule 3.10.3 ASX provides the following information for release to the market.
- The shares to be issued are fully paid ordinary shares.
- The total number of shares to be issued will not exceed an aggregate market value of $650,000, which is approximately 0.06% of current market capitalisation.
- The terms of the shares to be issued are the same as other ordinary shares of ASX.
- The issue price of each share issued will be determined by the volume weighted average price at which ASX shares are traded on the market in the 5 business day period up to and including the date of issue or allotment of the shares.
- The shares are being issued under the Plan which is designed to drive performance at all levels of the organisation by creating a direct link between actual contribution to the success of the organisation and individual performance levels.
- There is no need to seek shareholder approval to issue these shares and the issue is not to a class of shareholders.