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DEVEX RESOURCES LIMITED — Capital/Financing Update 2021
Oct 3, 2021
64768_rns_2021-10-03_a9621586-7fb7-4058-838a-ee63f86b23b6.pdf
Capital/Financing Update
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4th October 2021
Issue of Unquoted Options
DevEx Resources Limited (ASX: DEV) (“DevEx” or the “Company”) advises that the Board has resolved to issue a total of 5,950,000 quoted options to Directors, employees and a consultant of the Company ( Options ), under the terms and conditions of the Company’s Employee Securities Incentive Plan as set out below (“ the issue ”).
The issue of 4,000,000 unquoted options to Directors is subject to shareholder approval at the Company’s upcoming Annual General Meeting in November 2021 and further details will be provided in a notice of meeting to be issued in due course. The Company provides the following information in relation to the issue.
| Director’s issue (subject toshareholder approval) | Director’s issue (subject toshareholder approval) | Employees andConsultant | |
|---|---|---|---|
| Numberproposed to beissued | Tim GoyderBrendan BradleyRichard HackerBryn JonesTotal | 1,000,0001,500,000750,000750,0004,000,000 | 1,950,000 |
| Principle terms | The Options will be issued under the terms and conditions of theCompany’s Employee Securities Incentive Plan | ||
| Exercise Price | $0.505 | ||
| Vesting | All vest immediately except for 1,300,000 employee and consultantoptions with 650,000 vesting in 12 months from the date of grant and650,000 vestingin 24 months from the date ofgrant | ||
| ExpiryDate | 25 November 2024 |
The exercise price represents a premium of 50% premium to the company’s 5-day volume weighted average price of 33.7 cents to 1 October 2021.
The issue of securities is to provide long term incentives to the Directors, employees, and consultant of DevEx and to align their interests with those of shareholders. Further details on the issue of the 1,950,000 unquoted options to the employees and consultant can be found in the Appendix 3G once the Options are issued.
Authorised for release by the Board of the Company.
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Brendan Bradley Managing Director
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----- Start of picture text ----- www.devexresources.com.auT: +61 (0) 8 9322 3990 DevEx Resources LimitedF: +61 (0) 8 9322 5800Level 2, 1292 Hay Street, West Perth WA 6005, AustraliaE: [email protected] GPO Box 2890, Perth WA 6001----- End of picture text -----