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Appendix 3Y

Related Companies

By LSE RNS

RNS Number : 0598Z
Wolf Minerals Limited
12 December 2017
 

Rule 3.19A.2

 

Change of Director's Interest Notice

 

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 30/09/01  Amended 01/01/11

 

Name of entity         WOLF MINERALS LIMITED

ABN                          11 121 831 472

 

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act. 

 

Name of Director

Mr Richard Lucas

Date of last notice

8 May 2017

 

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

 

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

 

Direct or indirect interest

Indirect

Nature of indirect interest

(including registered holder)

Note: Provide details of the circumstances giving rise to the relevant interest.

 

n/a

Date of change

12 December 2017

No. of securities held prior to change

Direct:

58,800 Fully paid Ordinary Shares  

 

Indirect:

16,667 Fully paid Ordinary Shares held in name of K L Anderson (spouse)

 

Class

Fully Paid Ordinary Shares

Number acquired

Nil

Number disposed

Nil

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

 

Nil

No. of securities held after change

Direct:

58,800 Fully paid Ordinary Shares  

 

Indirect:

16,667 Fully paid Ordinary Shares held in name of K L Anderson (spouse)

 

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

See Part 2 below.

 

Part 2 - Change of director's interests in contracts

 

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

 

Detail of contract

Participation in the Company's long term incentive plan known as the Performance Rights Plan ("PRP") in accordance with the Interim Managing Director's, Mr Richard Lucas, contract of employment and the subsequent issue of Performance Rights by the Company to Mr Lucas, on 12 December 2017 following approval by shareholders at the Company's Annual General Meeting on 28 November 2017.

Nature of interest

 

 

Details of the Performance Rights Plan and the vesting conditions were most recently contained in the Company's Notice of 2017 Annual General Meeting and accompanying Explanatory Memorandum released to the ASX on 20 October 2017.

Name of registered holder

(if issued securities)

 

The Performance Rights are not securities and have not yet vested. If and when the Performance Rights vest Mr Lucas may choose to have the resultant shares issued to him or a nominee.

Date of change

12 December 2017

No. and class of securities to which interest related prior to change

Note: Details are only required for a contract in relation to which the interest has changed

 

 

Nil

 

 

 

Interest acquired

3,104,637 Performance Rights, vesting 30 June 2022 (subject to the attainment of performance hurdles and the vesting conditions).

Upon vesting, one Performance Right is converted into one fully paid Ordinary Share in the Company for nil cash consideration. Vesting is subject to the following conditions:

 

a)           50% of Performance Rights will vest based on the Company's relative share price performance versus the AIM Basic Resources Index in accordance with a defined scale; and

 

b)           50% of Performance Rights will vest based upon the Company's Total Shareholder Return (TSR) performance.

 

Further details of the performance hurdles and vesting conditions can be found in the Company's Notice of Annual General Meeting and accompanying Explanatory Memorandum released to the ASX on 20 October 2017.

 

Interest disposed

 

Nil

 

Value/Consideration

Note: If consideration is non-cash, provide details and an estimated valuation

 

The Performance Rights are issued for nil cash consideration. Should all of the Performance Rights vest, the value to Mr Lucas is as follows:

a)           Value of the 3,104,637 Performance Rights vesting - $268,500.

 

Interest after change

4,676,532 Performance Rights

 

 

 

Part 3 - +Closed period

 

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?

No

If so, was prior written clearance provided to allow the trade to proceed during this period?

Not applicable

If prior written clearance was provided, on what date was this provided?

Not applicable

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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