Amani Gold Limited
Directors’ Report
For the year ended 30 June 2021
Performance Rights
Klaus Eckhof: 11/11/2022 Rights - tranche 1
- tranche 2
- tranche 3
27/05/22 Rights - tranche 1
- tranche 2
- tranche 3
25/05/24 Rights - tranche 1
- tranche 2
- tranche 3
Chan Sik Lap: 11/11/2022 Rights - tranche 1
- tranche 2
- tranche 3
27/05/22 Rights - tranche 1
- tranche 2
- tranche 3
G Thomas: 11/11/2022 Rights - tranche 1
- tranche 2
- tranche 3
27/05/22 Rights - tranche 1
- tranche 2
- tranche 3
Yu Qiuming: 11/11/2022 Rights - tranche 1
- tranche 2
- tranche 3
27/05/22 Rights - tranche 1
- tranche 2
- tranche 3
T Truelove: 27/05/22 Rights - tranche 1
- tranche 2
- tranche 3
Number granted
45,833,333 45,833,333 45,833,334
80,000,000 80,000,000 80,000,000
333,333,333 333,333,333 333,333,334
13,333,333 13,333,333 13,333,334
45,000,000 45,000,000 45,000,000
10,000,000 10,000,000 10,000,000
30,000,000 30,000,000 30,000,000
45,833,333 45,833,333 45,833,334
60,000,000 60,000,000 60,000,000
5,000,000 5,000,000 5,000,000
Grant Date
Fair value per right at grant date
Exercise price
per right Vesting price
- $0.0075 - $0.01 - $0.0125
- $0.0075 - $0.01 - $0.0125
- $0.0015 - $0.002 - $0.003
- $0.0075 - $0.01 - $0.0125
- $0.0075 - $0.01 - $0.0125
- $0.0075 - $0.01 - $0.0125
- $0.0075 - $0.01 - $0.0125
- $0.0075 - $0.01 - $0.0125
- $0.0075 - $0.01 - $0.0125
- $0.0075 - $0.01 - $0.0125
Expiry date
11/11/2022 11/11/2022 11/11/2022
27/05/22 27/05/22 27/05/22
25/05/24 25/05/24 25/05/24
11/11/2022 11/11/2022 11/11/2022
27/05/22 27/05/22 27/05/22
11/11/2022 11/11/2022 11/11/2022
27/05/22 27/05/22 27/05/22
11/11/2022 11/11/2022 11/11/2022
27/05/22 27/05/22 27/05/22
27/05/22 27/05/22 27/05/22
Maximum total value of grant yet to vest
$71,296 $71,296 $71,296
$92,000 $88,422 $85,356
$243,333 $239,667 $212,333
$20,741 $20,741 $20,741
$51,750 $49,738 $48,013
$15,556 $15,556 $15,556
$34,500 $33,158 $32,008
$71,296 $71,296 $71,296
$69,000 $66,317 $64,017
$5,750 $5,526 $5,335
11/11/2019 0.002 11/11/2019 0.002 11/11/2019 0.002
27/05/19 $0.0018
27/05/19 27/05/19
30/04/2021 30/04/2021 30/04/2021
11/11/2019 11/11/2019 11/11/2019
27/05/19 27/05/19 27/05/19
11/11/2019 11/11/2019 11/11/2019
27/05/19 27/05/19 27/05/19
11/11/2019 11/11/2019 11/11/2019
27/05/19 27/05/19 27/05/19
27/05/19 27/05/19 27/05/19
$0.00173 $0.00167
$0.00073 $0.00072 $0.00064
0.002 0.002 0.002
$0.0018 $0.00173 $0.00167
0.002 0.002 0.002
$0.0018 $0.00173 $0.00167
0.002 0.002 0.002
$0.0018 $0.00173 $0.00167
$0.0018 $0.00173 $0.00167
Performance rights will vest subject to meeting specific performance conditions. Tranche 1, 2 and 3 performance rights have market vesting conditions being a daily volume weighted average share price at the vesting price outlined in the table above over a minimum of 10 trading days (in the case of the 27/05/22 and 11/11/22 performance rights) and 20 trading days (in the case of the 31/12/20 and 30/4/2021 performance rights). Market vesting conditions have not been met and the rights have not been converted into shares.
Each right is converted to one ordinary share upon vesting. The performance rights vest when the vesting conditions are met. No performance rights will vest if the conditions are not satisfied, hence the minimum value of the performance rights yet to vest is
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Amani Gold Limited
Directors’ Report
For the year ended 30 June 2021
nil. The maximum value of the performance rights yet to best has been determined as the amount of the grant date fair value of the performance rights that is yet to be expensed.
The fair values at grant date of performance rights issued during the year were determined using a Barrier model simulation that takes into account the exercise price, the term of the rights, the share price at grant date and expected price volatility of the underlying share, and the risk free interest rate for the term of the rights. The model inputs for performance rights granted in year included:
Grant date
Expiry date
Share price at grant Risk free rate Volatility rate
Performance rights granted Apr 21 30/04/21 27/05/24 $0.001 0.10% 110%
Shareholdings of Key Management Personnel
The numbers of shares in the Company held during the financial period by Directors and other Key Management Personnel, including shares held by entities they control, are set out below:
Balance at 1 July 2020
Acquired Other Movements
- - - - - - - -
10,000,000 - - - - - - - - -
Balance at 30 June 2021
Nil
Nil 400,0002 600,000,0002 10,000,0002 Nil 833,880,368 91,847,797 10,800,000
Directors
Klaus Eckhof Nil
Chan Sik Lap Nil
G Thomas 400,000
Yu Qiuming 600,000,000
A Truelove Nil
K S Tsang Nil1
Maohuai Cong 833,880,3681
John Smyth 91,847,7971
Peter Huljich 10,800,0001
1Balance represents the shares held at the date of appointment as a director 2Balance represents the shares held at the date of resignation as a director
Options of Key Management Personnel
The numbers of Unlisted and Listed options in the Company held during the financial period by Directors and other Key Management Personnel, including shares held by entities they control, are set out below:
Balance at 1 July 2020
Nil Nil Nil Nil Nil Nil
Nil 1 142,500,000 1 35,000,000 1
Acquired Other Movements
Balance at 30 June 2021
Nil Nil2 Nil2 Nil2 Nil2
Nil
Nil 142,500,000 35,000,000
Directors
Klaus Eckhof Chan Sik Lap G Thomas Yu Qiuming A Truelove
K S Tsang Maohuai Cong John Smyth
- - - - - - - - - - - - - - - - - -
Peter Huljich
1Balance represents the options held at the date of appointment as a director 2Balance represents the options held at the date of resignation as a director
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Amani Gold Limited
Directors’ Report
For the year ended 30 June 2021
Performance Rights of Key Management Personnel
The numbers of performance rights in the Company held during the financial period by Directors and other Key Management Personnel, including those held by entities they control, are set out below:
Balance at Received as
1 July 2020 Remuneration
377,500,000 1,000,000,000 205,000,000 - 120,000,000 - 347,500,000 -
15,000,000 - Nil - Nil1 - Nil1 - Nil1 -
Exercised / Vested
Expired
Balance at 30 June 2021
1,377,500,000 205,000,0002 120,000,0002 347,500,0002
15,000,0002 Nil Nil Nil Nil
AI
