SCHEDULE 2 – CHAIRMAN OPTIONS TER MS AND CONDITIONS
(a) Entitlement Each Option entitles the holder to subscribe for one Share upon exercise of the Option.
(b) Vesting Conditions Subject to paragraph (n),
each Option will vest upon satisfaction of both of the following conditions (Vesting Conditions): (i) The Company, with the assistance of the holder, having executed binding documentation for the acquisition of a substantial new energy project consistent with the Company’s strategy and on terms acceptable to the Board , on or before 31 August 2017; and
(ii) The Company, with the assistance of the holder, having raised not less thanA$7,000,000 in new equity at a share price of not less than 1.5 cents per share, on or before 31 August 2017.
(c) Exercise Price Subject to paragraph (k), the amount payable upon exercise of each Option will be $0.015 (Exercise Price)
If you like, I will give you a call Doyle?
TNP Price at posting:
0.6¢ Sentiment: None Disclosure: Held