Robex Resources Implements Deferred Share Unit Plan
Robex Resources Inc. is excited to share that its board of directors has officially adopted a deferred share unit plan, aimed at enhancing the remuneration package for the company’s directors. This new initiative, known as the "DSU Plan," underscores Robex's commitment to aligning director compensation with company performance, ensuring the interests of management and shareholders remain closely aligned.
Details of the Deferred Share Unit Plan
The DSU Plan enables Robex to issue 500,000 deferred share units (DSUs) along with stock options covering a total of 6,500,000 common shares. This strategic move, recommended by the Remuneration Committee, is designed to provide a robust incentive for directors and key management personnel. Each DSU grants its holder the right to receive the cash equivalent of one common share once it is settled.
Vesting Conditions for DSUs
Under the new plan, the awarded DSUs will vest in two equal tranches, contingent upon the Board confirming that specific performance measures have been successfully achieved. This structure not only promotes accountability among directors but also reinforces a culture of excellence within the organization. Furthermore, the vesting is reliant on the participation of these individuals remaining active members of the Board during the evaluation period.
Key Highlights of the Stock Options
The granted stock options allow the directors to purchase common shares of Robex at a price of $2.11 per share. This pricing reflects a market-driven approach to compensation, encouraging directors to focus on achieving significant performance milestones. The vesting of these options will also hinge on the determination of the Remuneration Committee regarding the achievement of defined performance criteria during a specified timeframe.
Expiration and Conditions of the Options
Notably, the options will be valid for a period of three years and will cease to be available upon the earlier of a set date or once the Kiniero Project enters commercial production. This timeline provides a clear framework for the directors to work towards established goals while ensuring a successful trajectory for the company.
Commitment to Shareholder Interests
The DSUs and Options granted are governed by both the DSU Plan and the company’s amended and restated share purchase options plan. These measures will ensure that the company remains compliant with the standards set forth by the TSX Venture Exchange, further solidifying its commitment to transparent governance and strong corporate practices.
Contact Information
For those interested in further details about the DSU Plan or any inquiries related to the company’s initiatives, you can reach out directly to:
ROBEX RESOURCES INC.
Matthew Wilcox, Chief Executive Officer
Alain William, Chief Financial Officer
Phone: +1 581 741-7421
Email: investor@robexgold.com
Visit us at: www.robexgold.com
Frequently Asked Questions
What is the main objective of the new DSU Plan?
The main goal of the DSU Plan is to reward directors and align their compensation with the performance of the company, promoting accountability and excellence.
How many DSUs and stock options have been granted?
A total of 500,000 DSUs and stock options for 6,500,000 common shares have been authorized for non-executive directors and key management personnel.
What are the vesting conditions for DSUs?
The DSUs will vest in two tranches, based on the Board's confirmation of performance measures being met and the individual's continued service as director.
What is the exercise price for the stock options?
The exercise price for the stock options is set at $2.11 per share, promoting a strong performance-based incentive for the directors.
How long are the stock options valid?
The stock options are valid for three years and will expire depending on the achievement of specified performance measures and project milestones.
