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ELEMENTOS LIMITED — Board/Management Information 2022
Jun 1, 2022
64837_rns_2022-06-01_ab929a78-fe1f-40e1-afd5-c5b74845a2ae.pdf
Board/Management Information
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ASX ANNOUNCEMENT
02 June 2022
Non-Executive Director Options
Elementos Limited (ASX: ELT) advises that following a market remuneration review and benchmarking exercise the board has resolved to add a variable remuneration component to the Non-Executive Directors and Company Secretary packages. This provides an incentive structure that aligns with the company’s shift from a microcap exploration company into a small-cap development company.
It has been resolved by the Elementos board, subject to all shareholder approvals being obtained and compliance with the Corporations Act 2001 (Cth) and the ASX Listing Rules, to issue Non-Executive Directors (and the Company Secretary) 360,000 options each (a total of 1,800,000 options) to subscribe for ordinary shares in the Company. The details of which are set out in the ASX Appendix 3B lodged today.
Option Key Terms
| No. Options | 360,000 each |
|---|---|
| Expiry Date | 31 May 2025 |
| Exercise Price | $1.10 each |
| Issue Condition | Subject to shareholder approval (to be sought at the 2022 AGM) |
| Vesting Conditions | Nil (on issue). |
Elementos’ Board has authorised the release of this announcement to the market.
For more information, please contact:
Mr Duncan Cornish Mr Joe David Company Secretary Managing Director Phone: +61 7 3221 7770 Phone +61 7 2111 1110 [email protected] [email protected]
ABOUT ELEMENTOS
Elementos is committed to the safe and environmentally conscious exploration, development, and production of its global tin projects. The company owns two world class tin projects with large resource bases and significant exploration potential in mining-friendly jurisdictions. Led by an experienced-heavy management team and Board, Elementos is positioned as a pure tin platform, with an ability to develop projects in multiple countries. The company is well-positioned to help bridge the forecast significant tin supply shortfall in coming years. This shortfall is being partly driven by reduced productivity of major tin miners in addition to increasing global demand due to electrification, green energy, automation, electric vehicles and the conversion to lead-free solders as electrical contacts.
Level 7, 167 Eagle St Brisbane Queensland 4000 Phone +61 (0)7 2111 1110 [email protected] elementos.com.au
Elementos Limited | ABN 49 138 468 756 | ASX: ELT