Only free if he gets the SP and MCap of the company up significantly. 1st 2 tranches of performance rights are tied to a SP of 8c and 12c and the final with a MCap of $100m. IMO its great to see the directors package is aligned with shareholders interests.
1. Performance Rights vest and become exercisable for no consideration upon the VWAP of the Company's Shares trading on the ASX over 20 consecutive trading days being at least $0.08;
2.Performance Rights vest and become exercisable for no consideration upon the VWAP of the Company's Shares trading on the ASX over 20 consecutive trading days being at least $0.12.
3.Performance Rights vest and become exercisable for no consideration upon market capitalisation of the Company being at least $100 million, calculated using the 5-day VWAP of the Company's Shares trading on the ASX multiplied by the number of ordinary shares on issue at that time.
MEI Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
