AVA RISK GROUP LIMITED — AGM Information 2019

Oct 6, 2019

07 October 2019

Annual General Meeting – Notice of Meeting Clarification

Ava Risk Group Limited (ASX:AVA) advises of the following in relation to Resolution 5 (a) through (e) of the Annual General Meeting Notice of Meeting ( Notice ) dated 27 September 2019 and as released to ASX on that date:

Explanatory Memorandum

1. Table – Valuation of Performance Rights (Page 9 of the Notice of Meeting):

The Table detailing the Valuation of Performance Rights as contained on page 9 of the Notice incorrectly states that the vesting date for the Performance Rights for Mr Cronin, Mr Stevens and Mr McGeever is 31 August 2020. This date should be 01 September 2020. A copy of the amended table is as follows:

	Mr Robert Broomfield Mr Scott Basham Mr David Cronin Mr Mark Stevens Mr Michael McGeever
Underlying price	$0.1642 $0.1642 $0.1250 $0.1250 $0.1250
Volatility	0.80 0.80 0.80 0.800 0.80
Dividend Yield (estimate)	Nil Nil Nil Nil Nil
Expiry Date	N/A N/A N/A N/A N/A
Vesting Date	Subject to the Directors determining that the applicable vesting conditions have been met, the Performance Rights will vest in two equal tranches on 31 August 2021 and 31 August 2022 Subject to the Directors determining that the applicable vesting conditions have been met, the Performance Rights will vest in two equal tranches on 31 August 2021 and 31 August 2022 Subject to the Directors determining that the applicable vesting conditions have been met, the Performance Rights will vest on 01 September 2020. Subject to the Directors determining that the applicable vesting conditions have been met, the Performance Rights will vest on 01 September 2020. Subject to the Directors determining that the applicable vesting conditions have been met, the Performance Rights will vest on 01 September 2020.
Exercise (strike) price	N/A N/A N/A N/A N/A
Risk free rate	0.81% 0.81% 0.81% 0.81% 0.81%
Value - per right	$0.1642 $0.1642 $0.1250 $0.1250 $0.1250
Number of Performance Rights issued	344,378 334,957 200,000 200,000 200,000

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	Mr Robert Broomfield Mr Scott Basham Mr David Cronin Mr Mark Stevens Mr Michael McGeever
Employee benefit expense	$56,547 $55,000 $14,140 $14,140 $14,140

2. Table – Existing interests and the dilutionary effect on other Shareholders’ interests (Pages 12 and 13 of the Notice):

As announced to ASX on 12 September 2019 and 25 September 2019, Directors Mr Mark Stevens and Mr Michael McGeever purchased 100,000 and 400,000 AVA shares respectively.

The table detailing the existing interests and the dilutionary effect on other Shareholder’s interest for Mr Stevens and Mr McGeever below reflects these share purchases and as is prepared applying the same assumptions as stated within the Notice:

	Mr Robert	Mr Scott	Mr David	Mr Mark	Mr Michael
	Broomfield	Basham	Cronin	Stevens	McGeever
The total	234,115,568	234,115,568	234,115,568	234,115,568	234,115,568
number of
shares on issue
in the capital of
the Company
Shares currently held by the	2,994,382	100,000	32,463,070	618,396	4,505,000
Director
(including
indirect
interests)
% of shares	1.28%	0.04%	13.87%	0.26%	1.92%
currently held
by the Director
Performance	225,944	Nil	Nil	Nil	Nil
Rights held by
the Director
prior to Annual
General Meeting
(including
indirect
interests)
Options held by	1,750,000	Nil	Nil	Nil	Nil
the Director
prior to
(including
indirect
interests)
Performance	344,379	334,957	200,000	200,000	200,000
Rights to be
issued under
this resolution
to the Director
following

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Annual General
Meeting
Shares that will	5,314,705	434,957	32,663,070	818,396	4,705,000
be held
following the
vesting of all
Performance
Rights and
exercise of
Options held by
the Director
% of Shares	2.25%	0.19%	13.94%	0.34%	2.01%
that would be
held by the
Director
assuming no
other
Performance
Rights held by
other parties
vested

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About the Ava Group

The Ava Group is a market leader in the provision of risk management services and technologies, trusted by some of the most risk conscious commercial, industrial, military and government clients in the world.

The Group features a range of complementary solutions including Future Fibre Technologies (FFT) for intrusion detection for perimeters, pipelines and data networks, BQT Solutions (BQT) for biometric and card access control as well as AVA Global for secure international logistics and storage of high value assets.

Through decades of innovation, the Ava Group continues to build upon a comprehensive portfolio of premium services and technologies for the most complex and demanding markets.

Contact

For more information on this announcement please contact Kim Clark, Company Secretary kim.clark@boardroomlimited.com.au

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