Wolf Minerals Limited Appendix 3Y (3518G)

TIDMWLFE

RNS Number : 3518G

Wolf Minerals Limited

20 November 2015

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 
-------------------------------------------------- 
              ABN 11 121 831 472 
-------------------------------------------------- 
 

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 
--------------------  ---------------------- 
 Date of last notice   2 December 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                          16 November 2015 (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 20 November 2015 following 
                              approval by shareholders at the Company's 
                              Annual General Meeting on 16 November 
                              2015. 
--------------------------  ------------------------------------------------------- 
 Nature of interest          Details of the 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 8 October 2015. 
--------------------------  ------------------------------------------------------- 
 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              20 November 2015 
--------------------------  ------------------------------------------------------- 
 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                795,918 Performance Rights, vesting 30 
                                   June 2018 (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 8 October 2015. 
--------------------------  ------------------------------------------------------- 
 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 795,918 Performance Rights 
                                   vesting - $292,000. 
--------------------------  ------------------------------------------------------- 
 Interest after change       2,114,211 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? 
-----------------------------------------  ---- 
 If prior written clearance was provided,   N/A 
  on what date was this provided? 
-----------------------------------------  ---- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 20, 2015 02:01 ET (07:01 GMT)