Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Announcement Summary
For personal use only
Entity name
CZR RESOURCES LTD
Date of this announcement
Wednesday March 23, 2022
The +securities the subject of this notification are:
Other
Total number of +securities to be issued/transferred
Total number of | |||
ASX +security | +securities to be | ||
code | Security description | issued/transferred | Issue date |
New class - code | Employee Incentive Performance Options | 12,500,000 | 22/03/2022 |
to be confirmed | Exercisable @$0.000001, Expiry 22 March 2026 | ||
New class - code | Employee Incentive Performance Options | 6,000,000 | 22/03/2022 |
to be confirmed | Exercisable @$0.000001, Expiry 22 March 2026 | ||
New class - code | Employee Incentive Options A Exercisable | 7,000,000 | 22/03/2022 |
to be confirmed | @$0.016, Expiry 22 March 2026 | ||
New class - code | Employee Incentive Options B Exercisable | 7,000,000 | 22/03/2022 |
to be confirmed | @$0.031, Expiry 22 March 2026 |
Refer to next page for full details of the announcement
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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Part 1 - Entity and announcement details
For personal use only
1.1 Name of entity
CZR RESOURCES LTD
We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.
1.2 | Registered number type | Registration number |
ABN | 91112866869 | |
1.3 | ASX issuer code | |
CZR |
- The announcement is New announcement
- Date of this announcement
23/3/2022
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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Part 2 - Issue details
For personal use only
2.1 The +securities the subject of this notification are: Other
Please specify
Sign-on Incentive Options on the appointment of Employees
2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:
does not have an existing ASX security code ("new class")
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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX
in an Appendix 3B
For personal use only
New +securities | ||
ASX +security code | +Security description | |
New class - code to be confirmed | Employee Incentive Performance Options Exercisable | |
@$0.000001, Expiry 22 March 2026 | ||
+Security type | ISIN code | |
Options |
Date the +securities the subject of this notification were issued
22/3/2022
Will all the +securities issued in this class rank equally in all respects from their issue date? No
If some of the issued +securities do not rank equally:
Is the actual date from which the +securities will rank equally (non-ranking end date) known?
No
Provide the estimated non-ranking end period
The Performance Options vest in tranches upon various milestones:
Tranche1-3,500,000 Options Board Approved DFS For Robe Mesa, on or before 31 December 2022; Tranche2-3,000,000 Options DFS Audited AISC below A$55/t for Robe Mesa;
Tranche3-3,000,000 Options Port Access Agreement to support the Life of Mine export schedule for Robe Mesa, as defined in the DFS; and
Tranche4-3,000,000 Options All Heritage and Regulatory approvals received for the commencement of mining operations at Robe Mesa
Please state the extent to which the +securities do not rank equally:
In relation to the next dividend, distribution or interest payment; or
For any other reason
Options issued in accordance with the Option Terms as noted in this Appendix and upon exercise will rank equally with fully paid ordinary shares
Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1?
Yes
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.
The Options vest in tranches based upon various milestones as described above.
In the event that a greater than 50% interest in the Robe Mesa Project is transacted to a third party, subject to the terms of the Zanthus Resources Pty Ltd Joint Venture Agreement, Board approval any required regulatory approvals, tranches 1 to 4 above will vest.
The Options will generally be forfeited and cancelled if the Employee ceases employment, except under certain circumstances
Notification of Issue, Conversion or Payment up of Unquoted | 4 / 14 |
Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
The Options will vest automatically on a Change of Control Event
The Options have a an exercise price of $0.000001 and expire on 22 March 2026
Options Details
only | +Security currency | Exercise price | Expiry date |
AUD - Australian Dollar | AUD 0.00000000 | 22/3/2026 | |
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of | |||
company option | |||
Other | |||
use | Description | ||
Fully Paid Ordinary Shares | |||
Any other information the entity wishes to provide about the +securities the subject of this notification | |||
Nil | |||
Please provide any further information needed to understand the circumstances in which you are notifying the | |||
personal | issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to | ||
the market in an Appendix 3B | |||
N/A | |||
Issue details | |||
Number of +securities | |||
12,500,000 | |||
Were the +securities issued for a cash consideration? | |||
No | |||
Please describe the consideration being provided for the +securities | |||
N/A | |||
For | |||
Purpose of the issue | |||
Other | |||
Additional Details
Employee Sign-on Incentive Performance Options
New +securities
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Coziron Resources Limited published this content on 23 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2022 09:03:02 UTC.