BARYS RESOURCES LIMITED — Share Issue/Capital Change 2022

Aug 18, 2022

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

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Announcement Summary

Entity name

ENRG ELEMENTS LTD

Date of this announcement

Friday August 19, 2022

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Performance Rights, subject to tenure based	6,314,636	19/08/2022
to be confirmed	vesting conditions.

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

ENRG ELEMENTS LTD

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

73149230811

1.3 ASX issuer code

EEL

1.4 The announcement is

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New announcement

1.5 Date of this announcement

19/8/2022

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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:

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Other

Please specify

4,122,295 issued per 'Proposed issue of securities' released 4/8/22. 2,192,341 issued under EEL ESIP

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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does not have an existing ASX security code ("new class")

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

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities
ASX +security code New class - code to be confirmed	+Security description Performance Rights, subject to tenure based vesting conditions.
+Security type	ISIN code
Other
Date the +securities the subject of this notification were issued
19/8/2022
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

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

4,122,295 Performance Rights issued per 'Proposed issue of securities' released 4/8/22. 2,192,341 Performance Rights issued under EEL ESIP

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

4,122,295 Performance Rights issued per 'Proposed issue of securities' released 4/8/22

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

Issue details

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Number of +securities

6,314,636

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

4,122,295 Performance Rights issued as a long-term incentive to key contractors who provide technical services to the Company and 2,192,341 Performance Rights issued to an employee of the Company.

Purpose of the issue

Other

Additional Details

Long-term incentives

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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
EEL : ORDINARY FULLY PAID	928,001,854

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
EELAC : PERFORMANCE SHARES	80,000,000
EELAB : PERFORMANCE OPTION EXPIRING 24-MAY-2025 EX $0.03	50,000,000
EELAA : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	62,500,000
New class - code to be confirmed : Performance Rights, subject to tenure based vesting	6,314,636
conditions.

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

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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? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

4,122,295. 2,192,341 Performance Rights were issued under the Listing Rule 7.2 exception 13.

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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