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STELLAR RESOURCES LIMITED Remuneration Information 2024
65860_rns_2024-10-02_4672238b-ff6a-4733-8893-5c5d08bb5388.pdf
Remuneration Information
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Changes to Executive Directors Remuneration Packages
Stellar Resources Limited (ASX: SRZ, "Stellar" or the "Company") today advises changes to the remuneration packages of the Company's Managing Director/CEO and Executive Director respectively.
Following review by the Company and in conjunction with an independent remuneration consultant, the Board has agreed that Mr Simon Taylor (Managing Director and CEO) and Mr Andrew Boyd's (Executive Director) remuneration packages be updated to reflect current industry benchmarks and aligning them with current shareholder interests. It is noted Shareholder's approved the terms of the Long Term Incentives for FY25 as noted below on 9 August 2024.
In accordance with ASX Listing Rule 3.16.4, the new terms Mr Taylor and Mr Boyd's remuneration packages are as follows:
| Title | Simon Taylor – Managing Director and CEO | |
|---|---|---|
| NewRemuneration Package | Previous Remuneration Package | |
| BaseRemuneration | $301,352 (exclusive of superannuation)per annum | $275,000 (exclusive of superannuation)per annum |
| Incentives | ALongTermIncentive("LTI")ofamaximum of 100% of base salary plussuper,payableinsecuritiesintheCompany, subject to the achievement ofagreed KPI. Any securities to be issued aspart of the LTI incentive will be subject torelevant regulatory approvals. | Short Term Incentives (STI), up to amaximum of 30% of the Base Salary,whichwillbeassessedagainstestablished and agreed Key PerformanceIndicators (KPI's).LongTermIncentives(LTI),uptoamaximum of 70% of the Base Salary,whichwillbeassessedagainstestablished and agreed Key PerformanceIndicators (KPI's) to be determined by theBoard at a later date. |
ASX Announcement | ASX: SRZ
3 October 2024
| Title | Andrew Boyd –Executive Director | |
|---|---|---|
| New Remuneration Package | Previous Remuneration Package | |
| BaseRemuneration | $263,513 (exclusive of superannuation)per annum | $250,000 (exclusive of superannuation)per annum |
| Incentives | ALong Term Incentive ("LTI")of amaximum of 90% of base salary plussuper,payableinsecuritiesintheCompany, subject to the achievement ofagreed KPI.Any securities to be issued aspart of the LTI incentive will be subject torelevant regulatory approvals. | Short Term Incentives (STI), up to amaximum of 20% of the Base Salary,whichwillbeassessedagainstestablished and agreed Key PerformanceIndicators (KPI's) to be determined by theBoard at a later date.LongTermIncentives(LTI),uptoamaximum of 70% of the Base Salary,whichwillbeassessedagainstestablished and agreed Key PerformanceIndicators (KPI's) to be determined by theBoard at a later date. |
– ENDS –
This announcement is authorised for release to the market by the Board of Directors of Stellar Resources Limited.
For further details please contact: For broker and media enquiries:
Mathew Watkins Company Secretary Stellar Resources Limited T: +61 3 9692 7222
Jason Mack Communications Advisor White Noise Communications T: +61 410 611 709 E: [email protected]
ASX Announcement | ASX: SRZ
3 October 2024
About Stellar Resources:
Stellar Resources (ASX:SRZ) is focused on developing its world class Heemskirk Tin Project located in the mining friendly jurisdiction of Zeehan, Western Tasmania. The Company has defined a substantial high-grade resource totalling 7.48Mt at 1.04% Sn, containing 77.87kt of tin. 1 This ranks the Heemskirk Project as the highest-grade undeveloped tin resource in Australia and third globally.
The focus for the Company going forward will be to complete exploration and resource drilling at the Heemskirk Project to further grow the resource and improve the confidence by defining more tonnes in the indicated and measured category. Currently, a large proportion of the resource is classified in the indicated category totalling 3.52Mt at 1.05% Sn for 37kt of contained tin.
Stellar also made a major discovery at its North Scamander Project in September 2023, with a maiden exploration drillhole intersecting a significant new high-grade silver, tin, zinc, lead and Indium polymetallic discovery. The Company has also delineated multiple down hole conductions via DHEM and FLEM surveys, providing high priority follow up targets.
Figure 1 – Stellar Resources Heemskirk Tin Project Location
1 SRZ ASX Announcement 4 September 2023 – Heemskirk Tin Project MRE Update
The Company confirms that it is not aware of any new information or data that materially affects the information included within this announcement.