20974 29Metals AR23 WEB V1 - Flipbook - Page 197
2023 key
results
118
Chair letter and
CEO report
About
29Metals
Our
assets
Sustainability
& ESG Report
Mineral Resources
and Ore Reserves
Annual
Financial Report
193
29Metals Appendix 4E and Annual Financial Report for 29Metals Limited and its Controlled Entities for the year ended 31 December 2023
Consolidated Financial Statements
Note 34: Share-based payments (continued)
(d) Non-executive Directors (‘NED’) Salary Sacrifice Share Plan (‘Plan’)
he
alary acrifice hare Plan hich as approved at the Annual eneral Meeting held on 2 May 2022
hare Plan
(i)
(ii)
(iii)
nder the terms of the
alary acrifice
$ 0 000 of the pre tax irector fees for 2022 202 and 202 (‘Contribution Amount’) ill be delivered to each of the on executive irectors
annually in the form of estricted hares and deducted from irector fees as follo s
▪
for 2022 in approximately e ual monthly instalments from une 2022 to ecember 2022 (inclusive) and
▪
for 202 and 202 in approximately e ual uarterly instalments for each year
the number of estricted hares to be received by the on executive irectors ill be determined by dividing the ontribution Amount for the
relevant instalment by the volume eighted average price of 29Metals hares traded on the A over the month trading period ending on
the day before the Allocation ate of the estricted hares
the estricted hares once issued ill be sub ect to a dealing restriction expiring on the earlier of
▪
t o years after the date of issue and
▪
2 months after the cessation date as irector
uring the year ended
ecember 202 a ne
ho as appointed irector on April 202 oined the 29Metals
Plan on April 202 on
the same terms and conditions n the case of the ne
eligible for the purposes of the
hare Plan 29Metals is re uired to ithhold tax from the
fees applied to ac uire shares because the ne
is a non resident for Australian income tax purposes
he expense for the year ended
ecember 2022 is based on the share price on grant date and an estimate of the number of shares to be issued over
the term of the Plan based on the VWAP of $2
per share for the ecember 2022 uarter
he expense for the year ended
ecember 202 is based on the share price on grant date and an estimate of the number of shares to be issued over
the term of the Plan based on the VWAP of $0
per share for the ecember 202 uarter
uring the year ended
ecember 202 the share based payment expense for the year ended
ups to the actual number of shares issued
ecember 2022 as increased by $ 00 000 for true
Note
Fair value per share at grant date of 2 May 2022 issued to
Fair value per share at grant date of
2023
2022
s under the original Plan
$2
$2
oining in 202
$
April 202 issued to ne
ividend yield
otal shares expected to be allocated under this Plan based on 29Metals’ VWAP for the last uarter of the year
2
umber of shares allocated to date
29
( 9 9
alance of number of shares expected to be allocated under this Plan
)
(
0 )
0 9
apsed during the year
Fair value of shares allocated in the year ($’000)
hare based payment expense recognised in the year ($’000)
0
0
02
(a)
20
0
118
