LCL RESOURCES LIMITED — Director's Dealing 2020

Sep 3, 2020

Appendix 3Y Change of Director’s Interest Notice

ClassRule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	LOS CERROS LIMITED
ABN	43 119 759 349

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Ross Ashton
Date of last notice	28 July 2020

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Freshwater Resources Pty Ltd **A/C> Freshwater Resources Pty Ltd
Date of change	1. 28 August 2020 2. 3 September 2020
No. of securities held prior to change	Freshwater Resources Pty Ltd **A/C> 6,695,595 Ordinary Shares 1,714,119 Quoted Options exercise price of 16 cents expiring 16 August 2021 625,000 Class A Unquoted Options, exercise price of 32 cents expiring 1 July 2023 937,500 Unquoted Options exercise price of 10 cents expiring 6 April 2022 Freshwater Resources Pty Ltd 1,028,303 Ordinary Shares 205,661 Quoted Options exercise price of 16 cents expiring 16 August 20211 2,000,000 Unquoted Options exercise price of 13.5 cents expiring 30 September 2024

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Class	1. Class A Unquoted Options, exercise price of 32 cents expiring 1 July 2023 2. Ordinary Shares
Number acquired	1. Nil 2. 750,000
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	1. Nil 2. $0.04 per Share
No. of securities held after change	Freshwater Resources Pty Ltd **A/C> 7,445,595 Ordinary Shares 1,714,119 Quoted Options exercise price of 16 cents expiring 16 August 2021 937,500 Unquoted Options exercise price of 10 cents expiring 6 April 2022 Freshwater Resources Pty Ltd 1,028,303 Ordinary Shares 205,661 Quoted Options exercise price of 16 cents expiring 16 August 20211 625,000 Class A Unquoted Options, exercise price of 32 cents expiring 1 July 2023 2,000,000 Unquoted Options exercise price of 13.5 cents expiring 30 September 2024
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	1. Off-market transfer between accounts 2. Participation in Tranche 2 Placement, approved by shareholders at the General Meeting held on 27 August 2020

1 Note the amendment to the Quoted Options, exercise price of 16 cents, expiring 16 August 2021. The number of quoted options was previously incorrectly stated.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	-
Nature of interest	-
Name of registered holder (if issued securities)	-
Date of change	-

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	-
Interest acquired	-
Interest disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	-
Interest after change	-

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3