22 September 2016 ASX RELEASE
Level 1, 672 Murray Street West Perth WA 6005
Locked Bag 8
West Perth WA 6872
t. +61 8 9322 1182
f. +61 8 9321 0556
info@neometals.com.au neometals.com.au
Neometals Ltd ABN 89 099 116 631
Extension of Managing Director's appointment
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The Company has renewed the term of Chris Reed's employment as Managing Director to 30 June 2019.
Neometals Ltd (ASX: NMT) ("Neometals" or "the Company") is pleased to announce that its executive services agreement with its Managing Director, Chris Reed, has been extended until 30 June 2019. Company Chair, Mr Steven Cole said "This extended term is designed to assure to the Company and its shareholders the continuing services of Mr Reed during the next phase of development and implementation of the Company's strategic focus."
Following the annual contractual review of Mr Reed's performance and remuneration arrangements, Mr Reed's remuneration package will now reflect the following key aspects from 1 July 2016:
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Base Salary Package: $540,000 p.a. (inclusive of statutory superannuation);
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Short Term Incentive: Discretionary annual bonus of up to one third of base salary against pre‐set KPI's measured against corporate and personal performance outcomes; and
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Long Term Incentive: The grant of performance rights to a value of up to 50% of base salary under plan arrangements already endorsed by shareholders, which rights may vest depending on the Company's total shareholder return (TSR) performance against a benchmark basket of other companies in the same industry sector as the Company.
The other terms of Mr Reed's contract remain unchanged.
The Company has also today granted a total of 1,096,599 performance rights to Company executives (including Mr Reed) in accordance with their employment agreements. ASX Appendices 3B and 3Y will follow.
ENDS
For further information please contact: Steven Cole
Chair Neometals Ltd
T: +61 8 9322 1182
E: [email protected]
All the right elements
Appendix 3B New issue announcement
Appendix 3B
Rule 2.7, 3.10.3, 3.10.4, 3.10.5
New issue announcement, application for quotation of additional securities
and agreement
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13
Name of entity
Neometals Ltd
ABN
89 099 116 631
We (the entity) give ASX the following information.
Part 1 - All issues
You must complete the relevant sections (attach sheets if there is not enough space).
Employee Performance Rights.
1 +Class of +securities issued or to be issued
1,096,599
-
Number of +securities issued or to be issued (if known) or maximum number which may be issued
Employee Performance Rights granted pursuant to the Neometals Ltd Performance Rights Plan.
-
Principal terms of the
+securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if
+convertible securities, the conversion price and dates for conversion)
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 1
Appendix 3B
New issue announcement
No, but upon satisfaction of vesting criteria, the holders will be entitled to be issued fully paid ordinary shares for each Performance Right held and those new shares will rank equally in all respects from the date of allotment with the fully paid ordinary shares in Neometals Ltd currently on issue.
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Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?
If the additional +securities do not rank equally, please state:
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the date from which they do
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the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
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the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
Nil cash consideration.
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Issue price or consideration
Issue of Performance Rights to employee pursuant to the Neometals Ltd Performance Rights Plan.
-
Purpose of the issue
(If issued as consideration for the acquisition of assets, clearly identify those assets)
No
6a Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?
If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i
N/A
6b The date the security holder resolution under rule 7.1A was passed
N/A
6c Number of +securities issued without security holder approval under rule 7.1
+ See chapter 19 for defined terms.
Appendix 3B Page 2 04/03/2013
N/A
6d Number of +securities issued with security holder approval under rule 7.1A
Appendix 3B New issue announcement
N/A
6e Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)
N/A
6f Number of +securities issued under an exception in rule 7.2
N/A
6g If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the
+issue date and both values.
Include the source of the VWAP calculation.
N/A
6h If +securities were issued under rule 7.1A for non‐cash consideration, state date on which valuation of consideration was released to ASX Market Announcements
N/A
6i Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements
22 September 2016
7 +Issue dates
Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.
Cross reference: item 33 of Appendix 3B.
|
Number
|
+Class
|
|
563,000,865
|
Fully paid ordinary shares
|
8 Number and +class of all
+securities quoted on ASX (including the +securities in section 2 if applicable)
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 3