RE: RNS28 Jan 2025 12:37
Upon completion of certain key milestones, the Consultant will also receive share-based success fees as follows:
o Upon written approval of the Phulbari coal mine's Scheme of Development, the Consultant shall receive a success fee equal to 5% of the issued share capital of the Company ("ISC") at the time of issue;
o Upon written approval in respect of each group of the ultra-super critical thermal power plants of up to 6,000MW in total, located at or near the proposed Project, divided into Power Plant 1, Power Plant 2 and Power Plant 3 and the Solar Power Park of up to 4,500MW, for which the Consultant shall receive a success fee in each instance equal to 2% of the ISC at the time of issue (i.e., up to 6% of the ISC in total); and
o On commencement of development of the coal mining operation, for which the Consultant shall receive a success fee equal to 4% of the ISC at the time of issue.