2 May 2022
Terms of Issue of Securities
BID (Trading name for Bill Identity Limited, ASX: BID) ("BID" or "the Company") refers to the Appendix 3G and the Appendix 3B lodged with ASX today, and encloses the Terms of Issue of the following classes of Securities:
ASX ANNOUCEMENT
Appendix 3G
• Class R and Class S Performance Rights; and
• Class E Restricted Security Units.
Appendix 3B
• Class X Options
Authority:
This announcement was authorised for release by the General Counsel & Company Secretary of Bill Identity Limited.
- ENDS -
Bill Identity Limited ABN 94 131 445 335 | +61 03 8608 0781 | ASX: BID
TERMS AND CONDITIONS OF CLASS R PERFORMANCE RIGHTS
Type of Plan Securities offered: | Class R Performance Rights |
Offer Consideration: | Nil |
Exercise Price: | Nil |
Expiry Date: | 31 March 2025 |
Vesting Conditions: | Plan securities will automatically vest upon the satisfaction of both Performance Conditions and Retention conditions outlined below. |
Performance conditions: | Plan Securities are subject to performance conditions with weightings determined by the board. Where performance conditions are met, the relevant weighted portion of Plan Securities will be awarded, with the balance lapsing. The board has the discretion to alter awarding of total plan securities under these performance conditions as they see fit prior to 1 October 2022. |
Retention conditions: | Plan Securities awarded under performance conditions, and after any lapsing as a result of not meeting performance conditions, will vest automatically as follows:
Vesting in all cases is subject to the condition that the holder remains continuously employed with the Company up to and including the relevant date. |
Transfer Conditions: | Only as permitted under the rules of the Bill Identity Employee Incentive Plan as governed by its rules dated 26 March 2020 |
Regulatory conditions: | This Offer is made in reliance on ASIC Class Order 14/1000. |
Risks: | The Company's business performance and that of its shares are subject to various risks. Some of those risks |
The terms of the Class R Performance Rights are as follows:
are specific to its business activities, others could impact on the whole energy management industry or are of a more general nature. Individually or collectively, those risks may adversely affect the future operating and financial performance of the Company, its investment returns and the value of its Shares, which may rise and fall over time. Specific risks regarding Plan Securities (and any resulting Plan Shares) are:
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Share Price: | Holders can obtain the current market price of Shares at any time by searching the ASX website (www.asx.com.au) using the Company's ticker code "BID" or visiting the company's website,http://www.billidentity.com. |
Currency: | All monetary amounts set out in these terms and conditions are in Australian dollars. |
TERMS AND CONDITIONS OF CLASS S PERFORMANCE RIGHTS
Type of Plan Securities offered: | Class S Performance Rights |
Offer Consideration: | Nil |
Exercise Price: | Nil |
Expiry Date: | 31 March 2025 |
Income Tax and Employees and Employer's National Insurance: | By applying for and/or accepting the Plan Securities, employees irrevocably agree to:
If employees fail to make payment to the relevant Group Company in respect of any Tax liability, employees will authorise the Company to sell a sufficient number of Plan Shares to produce a sum which (after allowance for the costs and expenses of the sale of such Shares) may discharge (and shall be applied in discharge of) the relevant employee's liability to the relevant Group Company in respect of a Tax |
The terms of the Class S Performance Rights are as follows:
liability or any agreement or election pursuant to the Rule 6.4 of the Plan. | |
431 Election: | By applying for and/or accepting the Plan Securities, employees irrevocably agree that they will sign and deliver a 431 Election to the Company. |
Vesting Conditions: | Plan securities will automatically vest upon the satisfaction of both Performance Conditions and Retention conditions outlined below. Vesting in all cases is subject to the condition that performance rights holders (Holders) remain continuously employed with the Company up to and including the relevant date. |
Performance conditions: | Plan Securities are subject to performance conditions with weightings determined by the board. Where performance conditions are met, the relevant weighted portion of Plan Securities will be awarded, with the balance lapsing. The board has the discretion to alter awarding of total plan securities under these performance conditions as they see fit prior to 1 October 2022. |
Retention conditions: | Plan Securities awarded under performance conditions, and after any lapsing as a result of not meeting performance conditions, will vest automatically as follows:
Vesting in all cases is subject to the condition that the holder remains continuously employed with the Company up to and including the relevant date. |
Transfer Conditions: | Only as permitted under the Plan Rules |
Clawback: | If Holders (in the Board's opinion):
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BidEnergy Limited published this content on 02 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2022 07:16:08 UTC.