COMMS GROUP LTD — Share Issue/Capital Change 2022

Jun 9, 2022

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

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Announcement Summary

Entity name

COMMS GROUP LTD

Date of this announcement

Friday June 10, 2022

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
CCGAC	PERFORMANCE RIGHTS	3,550,000	10/06/2022

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

COMMS GROUP 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

64619196539

1.3 ASX issuer code

CCG

1.4 The announcement is

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New announcement

1.5 Date of this announcement

10/6/2022

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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

ASX +security code and description

CCGAC : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

10/6/2022

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
Zachary Crofts	Zachary Crofts	1,750,000
Michael Diamond	Michael Diamond	1,500,000

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

https://www.asx.com.au/asxpdf/20190625/pdf/4463c11m04lqyn.pdf

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

Continuously employed or continue to provide services to the Company up to the date the Board decides that the Vesting Conditions are met: (Vesting Period); and

Time (minimum vesting period) and share price hurdles set out below are satisfied

• TRANCHE A (applies to 50% of the total number of Performance Rights that may vest); Comms Group Share price hurdle of *$0.20 achieved during the Term; 18 months from the Grant Date.

• TRANCHE B (applies to 50% of the total number of Performance Rights that may vest); Comms Group Share Price Target of *$0.30 achieved during the Term; 30 months from the Grant Date.

• *The share price hurdle must be reached on at least 20 consecutive trading days at any time during the Term of the Performance Rights in order to satisfy this hurdle.

Performance Rights must be exercised before the expiry of the Term, which is 5 years from the date of grant.

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

Issue details

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Number of +securities

3,550,000

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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
CCG : ORDINARY FULLY PAID	361,320,543
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
CCGAC : PERFORMANCE RIGHTS	37,580,000
CCGAD : OPTION EXPIRING 23-SEP-2024 EX $0.12	7,500,000

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? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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