MOD Resources Limited Cancellation of Performance Rights (7870O)

TIDMMOD

RNS Number : 7870O

MOD Resources Limited

04 October 2019

4 October 2019

MOD Resources Limited

("MOD" or the "Company")

Cancellation of Performance Rights

MOD Resources Ltd (ASX/LSE:MOD) (the Company) advises that it has cancelled 175,000 Performance Rights expiring 21 February 2022 (Performance Rights) held by five holders. The cancellation was for nil consideration and occurs as a result of the holders no longer being engaged by the Company.

Following cancellation of these Performance Rights, the Company's capital structure is as follows;

 
   Number          Class 
 340,134,628       Fully Paid Ordinary Shares 
 
   4,825,168       Unlisted options with a nil exercise price and expiring on 16 November 2021 
============      ============================================================================================= 
   3,015,000       Unlisted options exercisable at $0.457 on or before 30 January 2023, vesting 12 months from 
                    the date of issue and subject to a restriction period to 30 January 2022 
============      ============================================================================================= 
   3,015,000       Unlisted options exercisable at $0.707 on or before 30 January 2023 vesting 24 months from 
                    the date of issue and subject to a restriction period to 30 January 2022 
============      ============================================================================================= 
   3,015,000       Unlisted options exercisable at $0.907 on or before 30 January 2023 vesting 36 months from 
                    the date of issue and subject to a restriction period to 30 January 2022 
============      ============================================================================================= 
   2,875,000       Performance Rights vesting in various tranches expiring 21 February 2022 
============      ============================================================================================= 
   5,030,000       Unlisted options exercisable at $0.522 on or before 12 April 2023 vesting 36 months from the 
                    date of issue and subject to a restriction period to 12 April 2022 
============      ============================================================================================= 
   3,630,000       Unlisted options exercisable at $0.435 on or before 29 May 2023 vesting 36 months from the 
                    date of issue and subject to a restriction period to 29 May 2022 
============      ============================================================================================= 
 

-ENDS-

For and on behalf of the MOD Board.

   Julian Hanna                                              Mark Clements 
   Managing Director                                        Executive Chairman and 

Company Secretary

   Jeff Sansom                                               Jos Simson / Emily Moss (UK PR & IR) 
   Investor Relations                                         Tavistock 
   [phone]                                           [phone] 
   [e-mail]                           [e-mail] 

Subscribe at: www.modresources.com.au

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END

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(END) Dow Jones Newswires

October 04, 2019 02:00 ET (06:00 GMT)