Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) advises that it has today issued 12,167,670 fully paid ordinary shares in the Company (Shares) at a deemed issue price of $0.0176 (being ZAR20 cents) (calculated by applying the volume weighted average price for the 180 days ending 17 December 2024) to key management personnel and management of the Company (Personnel), as part of a short term incentive (STI) scheme approved by the Board. Orion Personnel are eligible to participate in the STI scheme to receive awards of a percentage of fixed annual remuneration per annum. The Shares issued to such Personnel ffollowachievement of certain key performance indicators and performance objectives, as previously determined by the Board.
The issue of these Shares falls within Orion's 15% capacity for issues of equity securities without shareholder approval afforded by ASX Listing Rule 7.1.
By section 708A(5)(e) of the Corporations Act 2001 (Act), the Company advises as follows:
1. this notice is being given under paragraph 708A(5)(e) of the Act.
2. the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act.
3. as of the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company.
4. as at the date of this notice, the Company has complied with section 674 and section 674A of the Act; and
5. all information of the kind that would be required to be disclosed to the market for section 708A(6)(e) of the Act has been disclosed to ASX Limited.