Business
SHARE INCENTIVE PLAN AWARDS
SHARE INCENTIVE PLAN AWARDS.
About this update from Alien Metals Ltd
[{"type":"text","content":"\n \n \n 21 December 2022\n \n \n \n ALIEN METALS LIMITED\n \n \n \n \n (\"Alien Metals\" or \"the Company\")\n \n \n \n \n \n \n \n \n \n SHARE INCENTIVE PLAN AWARDS\n \n \n \n \n \n \n \n \n Alien Metals Limited, the minerals exploration and development company, is pleased to announce, in accordance with the Share Incentive Plan as approved by the Board on 14 November 2022\n it will issue, subject to the satisfaction of specified high hurdle performance conditions (\"Performance Conditions\"), as outlined below, a total of 178,000,000 Incentive Shares (\"Incentive Shares\") to the Company's Iron Ore Company of Australia (\"IOCA\") executive team, subject to the achievement of the Performance Conditions set out below in relation to the development of the Hammersley Iron project.\n \n \n \n \n \n The incentive plan is specifically designed to incentivise the executive team to deliver the Hancock iron mine into production in a timely manner, minimise staff turnover and ensure a cost-effective development. The award hurdles are seen as high value achievements and as such are strongly aligned with shareholder interests.\n \n \n \n \n \n \n \n \n \n \n Performance Condition\n \n \n \n \n \n \n \n \n \n \n \n \n \n Lloyd Edmunds\n \n \n \n \n \n \n Arran Gracie\n \n \n \n \n \n \n Troy Whittaker\n \n \n \n \n \n \n Bradley Toms\n \n \n \n \n \n \n Rod McIllree\n \n \n \n \n \n \n \n IOCA Offtake Signed\n \n \n \n \n 1\n \n \n \n \n 5,000,000\n \n \n \n \n 5,000,000\n \n \n \n \n 5,000,000\n \n \n \n \n Not applicable\n \n \n \n \n Not applicable\n \n \n \n \n \n \n IOCA Finance Term Sheet Signed\n \n \n \n \n 2\n \n \n \n \n 5,000,000\n \n \n \n \n 5,000,000\n \n \n \n \n 5,000,000\n \n \n \n \n Not applicable\n \n \n \n \n Not applicable\n \n \n \n \n \n \n Mining Licence Approval\n \n \n \n \n 3\n \n \n \n \n 10,000,000\n \n \n \n \n 10,000,000\n \n \n \n \n 10,000,000\n \n \n \n \n 3,000,000\n \n \n \n \n Not applicable\n \n \n \n \n \n \n First Ore Mined\n \n \n \n \n 4\n \n \n \n \n 5,000,000\n \n \n \n \n 5,000,000\n \n \n \n \n 10,000,000\n \n \n \n \n 4,000,000\n \n \n \n \n 5,000,000\n \n \n \n \n \n \n 500,000 Fe Tonnes Exported\n \n \n \n \n 5\n \n \n \n \n 5,000,000\n \n \n \n \n 5,000,000\n \n \n \n \n 15,000,000\n \n \n \n \n 5,000,000\n \n \n \n \n 8,000,000\n \n \n \n \n \n \n 1,000,000 F...