Why Did the Director of Queensland Pacific Metals Change His Securities Holdings?
In a recent announcement, Queensland Pacific Metals Limited (ABN: 125 368 658) disclosed a change in the securities holdings of its director, Mr. John Arthur Abbott. The company provided this information to the Australian Securities Exchange (ASX) as required by listing rule 3. 19A. 2 and the Corporations Act.
What are the Relevant Changes in the Director's Securities Holdings?
Prior to the change, Mr. Abbott held the following securities:
200,000 fully paid ordinary shares
1,000,000 unquoted options exercisable at $0.
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275, expiring on 30 November 2024
217,391 Performance Rights related to obtaining FID for the TECH Project
After the change, his updated securities holdings are as follows:
450,000 fully paid ordinary shares
1,000,000 unquoted options exercisable at $0. 275, expiring on 30 November 2024
217,391 Performance Rights
What is the Nature of the Change and its Value?
The change in securities holdings occurred on 29 August 2023. Mr. Abbott acquired an additional 250,000 fully paid ordinary shares, while no securities were disposed of during this change.
The value of these new securities holdings is estimated to be $15,750. 00.
Why is this Disclosure Important?
The disclosure of the change in director's securities holdings is a regulatory requirement aimed at promoting transparency in the market. It allows shareholders and potential investors to stay informed about any significant changes in the ownership of securities by company directors.
What's Next for Queensland Pacific Metals?
As Queensland Pacific Metals continues its operations, this change in director's securities holdings does not have an immediate impact on the company's activities or business prospects. It is simply a notification of changes in personal holdings by one of the company's directors.
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