ARDEA RESOURCES LIMITED — Share Issue/Capital Change 2023

Dec 6, 2023

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

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Announcement Summary

Entity name

ARDEA RESOURCES LIMITED

Date of this announcement

Thursday December 07, 2023

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
ARLAJ	PERFORMANCE RIGHTS	1,500,000	06/12/2023

Refer to next page for full details of the announcement

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

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Part 1 - Entity and announcement details

1.1 Name of entity

ARDEA RESOURCES 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

ABN

Registration number

30614289342

1.3 ASX issuer code

ARL

1.4 The announcement is

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New announcement

1.5 Date of this announcement

7/12/2023

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

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

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

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

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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

Additional +securities in an existing class issued under an +employee incentive scheme

ASX +security code and description

ARLAJ : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

6/12/2023

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
Norman Mathew Longworth	Norman Mathew Longworth	300,000
Andrew Penkethman	Andrew Penkethman	500,000
Ian Buchhorn	Ian Buchhorn	400,000
Maree Arnason	Maree Arnason	300,000

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

www.ardearesources.com.au - Notice of 2023 AGM Notice

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

1,500,000 Performance Rights issued comprising 750,000 Class P Performance Rights and 750,000 Class Q Performance Rights with Class P hurdle 30 day VWAP above 58.5 cents and continuous service to 30 November 2025, and Class Q hurdle 30 day VWAP above 65.6 cents and continuous service to 30 November 2026 with all Performance Rights expiring 6 December 2028. Performance Rights were approved by Shareholders at the 2023 AGM held on 24 November 2023

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

Issue details

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Number of +securities

1,500,000

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

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
ARL : ORDINARY FULLY PAID	194,661,915
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
ARLAL : OPTION EXPIRING 03-NOV-2025 EX $1.05	3,000,000
ARLAJ : PERFORMANCE RIGHTS	8,190,000

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

24/11/2023

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