Long-Term Incentive Plan

31 May 2006 07:00

Hardman Resources Limited31 May 2006 AIM STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 31 May 2006 AUSTRALIAN CONTACT: Simon Potter Hardman Resources Ltd + 61 8 9261 7600 Peter Thomas Hardman Resources Ltd +61 8 9261 7600 Jim Kelly Third Person Communications Pty Ltd +61 2 8298 6100 LONDON CONTACT: Patrick Handley Brunswick Group + 44 207 404 5959 RE: LONG-TERM INCENTIVE PLAN PAGES: 2 Hardman Resources Ltd ("Company") announces that it has today awardedperformance rights to employees pursuant to the Long-Term Incentive Planapproved by shareholders at the Annual General Meeting held on 18 May 2006. Pursuant to the Plan and a Service Agreement dated 14 December 2004 as amendedon 11 April 2006, the Company's CEO & Managing Director, Mr Simon Potter, hasacquired a maximum 648,300 performance rights (assuming all the Company hurdlesare achieved and the Board's additional discretionary percentage of 20% isawarded in his favour). Under the Plan participants are granted performance rights to fully paidordinary shares, subject to the Company meeting specified performance criteriaduring the performance period. The number of shares that a participant willultimately receive will depend on the extent to which the performance criteriaare met by the Company. If the minimum hurdles are not met no shares will beissued in respect of the performance rights. A performance right to shares does not entitle a participant under the Plan toparticipate in new issues of securities or to receive dividends. In the eventthat shares are issued under the Plan at the end of the performance periodpursuant to the performance rights, those shares will rank equally with existingordinary shares of the Company. RICHARD O'SHANNASSYCOMPANY SECRETARY This information is provided by RNS The company news service from the London Stock Exchange