onto no money14 Jan 2018 16:22
HERE...�������� it has been agreed in principle that Joe Clayton, the Company's Chief Executive Officer, will, upon completion of the Placing and subject to the passing of the Resolutions, be granted Warrants to subscribe for 2,500,000 new Shares (representing 1.62 per cent. of the Enlarged Share Capital) at 5 pence per Share for a period of five years, subject to the lapse of such Warrants if Mr Clayton leaves the Group as a 'bad leaver' during the first year. These Warrants are to be granted to Mr Clayton in lieu of a reduction in his base salary;
�������� it has been agreed that Chris Berkefeld, the Company's former Chairman, will be granted Warrants to subscribe for 547,120 new Shares (representing 0.36 per cent. of the Enlarged Share Capital) at 5 pence per Share for a period of five years. These Warrants are to be granted to Mr Berkefeld in lieu of his being paid in respect of his notice period provided that the Warrants are granted by 5 May 2017;
�������� it has been agreed in principle that Vantage Performance, a financial adviser to the Company, will, upon completion of the Placing and subject to the passing of the Resolutions, be issued with 1,823,708 Shares (representing 1.2 per cent of the Enlarged Share Capital) in lieu of fees and will be granted Warrants to subscribe for 5,000,000 new Shares (representing 3.25 per cent. of the Enlarged Share Capital) at 5 pence per Share for a period of five years in satisfaction of fee arrangements;
�������� it has been agreed with Tim Jones that the Company will discharge its liability to pay certain accrued fees to Mr Jones by the allotment to Mr Jones of 347,240 new Shares credited as fully paid up at the Placing Price. In addition it has been agreed that the notice provision in Mr Jones' agreement of three months on either side will be waived in consideration of the grant of Warrants to subscribe for 360,000 new Shares (representing 0.23 per cent. of the Enlarged Share Capital) at 5 pence per Share for a period of five years, subject to the passing of the Resolutions;
�������� it has been agreed that Mr Morffew will be repaid a loan of A$323,910.66 and paid AS$90,000 (less tax) in respect of employment entitlements (including superannuation), out of the proceeds of the Placing, in full and final settlement of all amounts owing by the Group to Mr Morffew, Santina Morffew or SCOPN Pty Ltd. In addition, subject to the passing of the Resolutions, Mr Morffew will be granted Warrants over 2,000,000 new Shares (representing 1.3 per cent. of the Enlarged Share Capital), exercisable at 5 pence per Share for five years; and
�������� it has been agreed that broking com
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