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ORBMINCO LIMITED — Capital/Financing Update 2021
Dec 15, 2021
65473_rns_2021-12-15_fe47604c-35f3-4ed8-941e-299d9419cf03.pdf
Capital/Financing Update
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16 December 2021
ASX ANNOUNCEMENT
ISSUE OF OPTIONS
Woomera Mining Limited (ASX:WML) ( Woomera or the Company ) advises that the Board has resolved to issue 15,000,000 unlisted Options to the Managing Director, Mr Kevin Seymour, as approved by shareholders at the Company’s Annual General Meeting on 25 November 2021. The Company also advises that the Board have resolved to issue a further 2,000,000 unlisted Options to two employees under the Company’s Employee Incentive Plan.
The terms and conditions of the unlisted Options to Mr Kevin Seymour are contained within the Company’s Notice of Annual General Meeting dated 26 October 2021.
The issue of the 2,000,000 unlisted Options to the employees were issued on the following terms and conditions:
| Class of Securities: | Unlisted Options |
|---|---|
| Number of Securities: | 2,000,000 Unlisted Options |
| Consideration: | $0.0001 per Option |
| Principle terms: | The Options are issued under the terms and conditions of the Company’s |
| Employee Incentive Scheme | |
| Exercise Price: | $0.05 per Option |
| Exercise Condition: | The Eligible Participant is an employee of the Company or its related body at |
| the time of exercise | |
| Expiry Date: | 15 December 2024 |
The issue of the securities is to provide long term incentives to the Managing Director and the employees of the Company and to align their interests with those of shareholders. Further details of the issue of the unlisted Options to the Managing Director and the employees can be found in the Appendix 3G released in conjunction with this announcement.
This ASX announcement has been approved by the Board of Woomera Mining Ltd and authorised for release by:
Jonathan W. Lindh Company Secretary Woomera Mining Limited +61 8 8232 6201
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About Woomera Mining Limited
Woomera Mining Limited is a focussed precious metal and base metal explorer. The Company is exploring for precious metals and massive nickel-copper sulphides in Western Australia (Mt Venn JV Project) and nickelcopper sulphides (Musgrave Project) along with copper-gold mineralisation (Labyrinth Project - Gawler Craton) in South Australia.
Woomera’s portfolio also includes lithium exploration tenements in Western Australia, which the Company is seeking to divest.
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