ANNUAL Report June 2024 Notes to the Consolidated Financial Statements 38 1 July 2022 to 30 June 2023 Date Number of Shares Issue Price $ Issue of 5,000,000 shares @ $0.040 per share to sophisticated shareholders, approved by shareholders on 25 January 2023, as part of the October 2022 placement (refer ASX announcement dated 1 February 2023) 01/02/2023 5,000,000 $0.040 200,000 Issue of 2,000,000 shares @ $0.040 per share upon the exercise of unlisted options granted to Key Management Personnel (refer ASX announcement dated 1 May 2023) 01/05/2023 2,000,000 $0.040 80,000 Issue of 3,000,000 shares @ $0.060 per share upon the exercise of unlisted options granted to Key Management Personnel (refer ASX announcement 16 May 2023) 16/05/2023 3,000,000 $0.060 180,000 Issue of 2,000,000 shares @ $0.040 per share upon the exercise of unlisted options (refer ASX announcement dated 26 June 2023) 26/06/2023 2,000,000 $0.040 80,000 Issue of 3,000,000 shares @ $0.060 per share upon the exercise of unlisted options (refer ASX announcement dated 26 June 2023) 26/06/2023 3,000,000 $0.060 180,000 Share issue costs (302,645) Balance as at 30 June 2023 1,474,486,938 27,222,060 Terms and Conditions of Contributed Equity Ordinary Shares Ordinary shares have the right to receive dividends as declared and, in the event of winding up the Company, to participate in the proceeds from the sale of all surplus assets in proportion to the number of and amounts paid up on the shares held. Ordinary shares entitle their holder to one vote, either in person or by proxy, at a meeting of the Company. Option holders have no voting rights until the options are exercised. (b) Movements in Share Options The following table illustrates share based payments, the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year: Number WAEP $ Balance at 1 July 2023 130,782,346 0.060 7,836,852 Options recognised as share-based payments expense 163,046,721 0.086 14,073,654 Options recognised as share issue costs 20,000,000 0.068 1,350,000 Forfeited/cancelled (1,300,000) (0.054) (70,000) Exercised (44,780,672) (0.061) (2,751,744) Expired (64,000,000) (0.045) (2,849,207) Balance at 30 June 2024 203,748,395 0.086 17,589,555 The following table illustrates outstanding options that have vested and are exercisable at year end: Number outstanding Number vested and exercisable Exercise price Expiry Date Remaining Contractual Life (Years) Issue EQRAL 19,751,674 19,751,674 0.0650 07/11/25 1.36 Issue EQRAM 16,100,000 - 0.0650 03/07/26 2.01 Issue EQRAN 1,250,000 1,250,000 0.0650 31/01/26 1.59 Issue EQRAO 78,000,000 78,000,000 0.0100 18/01/26 1.55 Issue EQRAP 88,646,721 88,646,721 0.0675 29/05/27 2.91 Outstanding at 30 June 2024 203,748,395 187,648,395 Notes to the Consolidated Financial Statements continued 104 EQ Resources Limited Annual Report 2024
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