Business
Directors Fees and Employee Incentive Payments
Directors Fees and Employee Incentive Payments.
About this update from Asiamet Resources Limited
[{"type":"text","content":"\n\n13 July 2023 \n \n2022 Directors Fees and Employee Incentive Payments\n \nAsiamet Resources Limited (\"ARS\" or the \"Company\") notes that pursuant to their letters of engagement, each of the Non-Executive Directors (\"Directors\") of the Company and the Chairman are eligible to receive director's fees. The Chairman and Directors have elected to receive these fees in the form of shares in the Company for the period 1 January 2022 to 31 December 2022 in lieu of cash.\nThe share price to be used for the calculation is a 10-day VWAP over the 10 trading days immediately following publication of the Company's Annual Accounts as released on 27 April 2023, or if the Company is in a close period at that time, for the 10 trading days immediately following the end of that close period. The share price used based on the above formula was 1.08 pence per share following the release of the Company's Annual Accounts.\nThe award of shares in the Company to directors for director's fees for the 2022 year is set out below.\nTony Manini 2,564,630 shares\nDominic Heaton 2,564,630 shares\nFaldi Ismail 2,564,630 shares\nPeter Pollard 2,564,630 shares\nBruce Sheng 2,564,630 shares\nEva Armila 2,564,630 shares\n \nIn addition to the abovementioned share issue, a further 20,738,204 performance rights in the form of shares in the Company will be awarded to certain employees, in lieu of cash, for their contribution to the Company during 2022 and as a long-term incentive. This includes an amount of 3,500,512 shares allocated to Tony Manini for...