12 Dec 2017 08:31
Rule 3.19A.2
Appendix 3Y
Change of Director's Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 30/09/01 Amended 01/01/11
Name of entity WOLF MINERALS LIMITED |
ABN 11 121 831 472 |
We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.
| Name of Director | Mr Richard Lucas |
Date of last notice | 8 May 2017 |
Part 1 - Change of director's relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.
Direct or indirect interest | Indirect |
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
| n/a |
Date of change | 12 December 2017 |
No. of securities held prior to change | Direct: 58,800 Fully paid Ordinary Shares
Indirect: 16,667 Fully paid Ordinary Shares held in name of K L Anderson (spouse)
|
Class | Fully Paid Ordinary Shares |
Number acquired | Nil |
Number disposed | Nil |
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
| Nil |
No. of securities held after change | Direct: 58,800 Fully paid Ordinary Shares
Indirect: 16,667 Fully paid Ordinary Shares held in name of K L Anderson (spouse)
|
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back | See Part 2 below. |
Part 2 - Change of director's interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.
Detail of contract | Participation in the Company's long term incentive plan known as the Performance Rights Plan ("PRP") in accordance with the Interim Managing Director's, Mr Richard Lucas, contract of employment and the subsequent issue of Performance Rights by the Company to Mr Lucas, on 12 December 2017 following approval by shareholders at the Company's Annual General Meeting on 28 November 2017. |
Nature of interest
| Details of the Performance Rights Plan and the vesting conditions were most recently contained in the Company's Notice of 2017 Annual General Meeting and accompanying Explanatory Memorandum released to the ASX on 20 October 2017. |
Name of registered holder (if issued securities)
| The Performance Rights are not securities and have not yet vested. If and when the Performance Rights vest Mr Lucas may choose to have the resultant shares issued to him or a nominee. |
Date of change | 12 December 2017 |
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
|
Nil
|
Interest acquired | 3,104,637 Performance Rights, vesting 30 June 2022 (subject to the attainment of performance hurdles and the vesting conditions). Upon vesting, one Performance Right is converted into one fully paid Ordinary Share in the Company for nil cash consideration. Vesting is subject to the following conditions:
a) 50% of Performance Rights will vest based on the Company's relative share price performance versus the AIM Basic Resources Index in accordance with a defined scale; and
b) 50% of Performance Rights will vest based upon the Company's Total Shareholder Return (TSR) performance.
Further details of the performance hurdles and vesting conditions can be found in the Company's Notice of Annual General Meeting and accompanying Explanatory Memorandum released to the ASX on 20 October 2017.
|
Interest disposed |
Nil
|
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
| The Performance Rights are issued for nil cash consideration. Should all of the Performance Rights vest, the value to Mr Lucas is as follows: a) Value of the 3,104,637 Performance Rights vesting - $268,500.
|
Interest after change | 4,676,532 Performance Rights
|
Part 3 - +Closed period
Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required? | No |
If so, was prior written clearance provided to allow the trade to proceed during this period? | Not applicable |
If prior written clearance was provided, on what date was this provided? | Not applicable |