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CIVMEC LIMITED — Remuneration Information 2022
Nov 24, 2022
64729_rns_2022-11-24_d809828f-10a7-4878-be1f-c4ccece887d2.pdf
Remuneration Information
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CIVMEC LIMITED
(Company Registration Number 201011837H)
PERTH/SINGAPORE, 25 November 2022
GRANT OF PERFORMANCE RIGHTS PURSUANT TO THE CIVMEC KEY SENIOR EXECUTIVES’ PERFORMANCE RIGHTS PLAN
The Board of Directors of Civmec Limited (the “Company”) advises that it has completed the issue of 2,134,000 performance rights to key management personnel and management under the Company’s Civmec Key Senior Executives Performance Rights Plan.
As required under ASX listing rules, an Appendix 3G for the issue of the Performance Rights will follow this announcement.
The Company confirms that, following the security issues and cancellations described above, its capital structure is as follows:
| Security | Number |
|---|---|
| Shares | 505,132,000 |
| Unquoted Options exercisable at S$0.65 onor before 11 September 2023 | 4,000,000 |
| Performance Rights issued under theCompany’s Performance Rights Plan1 | 7,950,000 |
Details of the Performance Rights Being Granted
- (a) Date of grant of Performance Rights
: 25 November 2022
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(b) Number of Performance Rights granted : 2,134,000
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(c) Market Price of the Company’s shares on : S$0.585 (approximately A$0.63) the date of grant
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(d) Number of Performance Rights granted to : Kevin James Deery 417,000 each director and controlling shareholder (and each of their associates), if any
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(e) Validity period of the Performance Rights
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: Rights will be vest based on outcomes of the 3 year performance period 1 July 2022 to 30 June 2025
This announcement was authorised for release to the ASX and SGX by the Board.
*** End of Release** *****
About Civmec Limited
Civmec is an integrated, multi-disciplinary construction and engineering services provider to the Energy, Resources, Infrastructure and Marine & Defence sectors. Headquartered in Henderson, Western Australia, Civmec has regional offices in Newcastle (New South Wales, Australia), Gladstone (Queensland, Australia), and Port Hedland (Western Australia). The company is listed on the SGX (Singapore SGX:P9D) and the ASX (Australia ASX:CVL). Its core capabilities include heavy engineering, shipbuilding, modularisation, SMP (structural, mechanical, piping), EIC (electrical, instrumentation and control), precast concrete, site civil works, industrial insulation, maintenance, surface treatment, refractory and access solutions.
For more information, please visit our website at www.civmec.com.au.