Wolf Minerals Limited Appendix 3Y (5872Y)
02 December 2014 - 8:00PM
UK Regulatory
TIDMWLFE
RNS Number : 5872Y
Wolf Minerals Limited
02 December 2014
Following this announcement, Mr Clark's holding in the Company
consists of 83,333 ordinary shares, representing 0.010% of the
outstanding issued share capital of the Company and 1,318,293
Performance Rights.
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
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ABN 11 121 831 472
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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 Russell St John Clark
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Date of last notice 27 May 2014
-------------------- ----------------------
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 Direct
-------------------------------------- -----------------------------
Nature of indirect interest N/A
(including registered holder)
Note: Provide details of the
circumstances giving rise to
the relevant interest.
-------------------------------------- -----------------------------
Date of change 28 November 2014 (refer Part
2 below)
-------------------------------------- -----------------------------
No. of securities held prior 83,333 Fully paid Ordinary
to change Shares
-------------------------------------- -----------------------------
Class Ordinary Shares
-------------------------------------- -----------------------------
Number acquired Nil
-------------------------------------- -----------------------------
Number disposed Nil
-------------------------------------- -----------------------------
Value/Consideration Nil
Note: If consideration is non-cash,
provide details and estimated
valuation
-------------------------------------- -----------------------------
No. of securities held after 83,333 Fully paid Ordinary
change Shares
-------------------------------------- -----------------------------
Nature of change See Part 2 below.
Example: on-market trade, off-market
trade, exercise of options,
issue of securities under dividend
reinvestment plan, participation
in buy-back
-------------------------------------- -----------------------------
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 Managing Director's, Mr Russell Clark,
contract of employment and the subsequent
issue of Performance Rights by the Company
to Mr Clark, on 28 November 2014 following
approval by shareholders at the Company's
Annual General Meeting on 21 November
2014.
-------------------------- -------------------------------------------------------
Nature of interest Details of the 1,318,293 Performance Rights
issued to Mr Clark and the vesting conditions
were contained in the Company's Notice
of Annual General Meeting and accompanying
Explanatory Memorandum released to the
ASX on 17 October 2014.
-------------------------- -------------------------------------------------------
Name of registered The Performance Rights are not securities
holder (if issued and have not yet vested. If and when the
securities) Performance Rights vest Mr Clark may choose
to have the resultant shares issued to
him or a nominee.
-------------------------- -------------------------------------------------------
Date of change 28 November 2014
-------------------------- -------------------------------------------------------
No. and class of
securities to which Nil
interest related
prior to change
Note: Details are
only required for
a contract in relation
to which the interest
has changed
-------------------------- -------------------------------------------------------
Interest acquired 1,318,293 Performance Rights, comprised
of:
a) 624,800 Performance Rights vesting
30 June 2016 (subject to the attainment
of performance hurdles and the vesting
conditions); and
b) 693,493 Performance Rights vesting
30 June 2017 (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 17 October 2014.
-------------------------- -------------------------------------------------------
Interest disposed Nil
-------------------------- -------------------------------------------------------
Value/Consideration The Performance Rights are issued for
Note: If consideration nil cash consideration. Should all of
is non-cash, provide the Performance Rights vest, the value
details and an estimated to Mr Clark is as follows:
valuation a) Value of the 624,800 Performance Rights
vesting - $187,440; and
b) Value of 693,493 Performance Rights
vesting 30 June 2017 - $202.500
-------------------------- -------------------------------------------------------
Interest after change 1,318,293 Performance Rights
-------------------------- -------------------------------------------------------
Part 3 - +Closed period
Were the interests in the securities No
or contracts detailed above traded
during a +closed period where prior
written clearance was required?
----------------------------------------- ----
If so, was prior written clearance N/A
provided to allow the trade to proceed
during this period?
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If prior written clearance was provided, N/A
on what date was this provided?
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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