Page 33 - Bauxite Resources Annual Report 2014

Annual Report 2014 Bauxite Resources | 31
DIRECTORS’ REPORT
Directors’ Report cont.
31 Bauxite Resources Annual Report 2014
Notes:
(1) The Company's market capitalisation averaging over a period of 60 consecutive days of trading a daily average of not less than $50M;
and completing 12 months of continuous employment with the Company to 20 May 2014.
(2) The Company's market capitalisation averaging over a period of 60 consecutive days of trading a daily average of not less than $70M;
and completing 24 months of continuous employment with the Company to 20 May 2015,
(3) the Company's market capitalisation averaging over a period of 60 consecutive days of trading a daily average of not less than $90M; and
completing 36 months of continuous employment with the Company to 20 May 2016.
(4) Rights subject to performance criteria prior to 30 June 2014 for rights expiring 31 July 2014; 30 June 2015 for rights expiring
31 July 2015 and 30 June 2016 for rights expiring 31 July 2016. Subsequent to year end the first tranche of 136,800 performance rights
have been converted to fully paid ordinary shares on 8 August 2014 following performances hurdles being achieved.
(5) 1,000,000 performance rights to be issued if BAU’s market capitalisation trades above $50m for 30 consecutive days prior to 31/12/2013
which have expired. A further 500,000 performance rights to be issued if BAU’s market capitalisation trades above $72.5m for 60
consecutive days prior to 31/12/2014.
There were no ordinary shares issued upon exercise of remuneration options to directors or other key management personnel of Bauxite
Resources Limited during the year.
E Equity instrument disclosures relating to key management personnel
(i) Option holdings
The numbers of options over ordinary shares in the Company held during the financial year by each director of Bauxite
Resources Limited and other key management personnel of the Group, including their personally related parties, are set out
below:
Balance at
start of the
year
Granted as
compensation
Exercised Other
changes
Balance at
end of the
year
Vested and
exercisable
Unvested
2014
Directors of Bauxite Resources Limited
John Sibly 2,000,000 - - - 2,000,000 2,000,000 -
2013
Directors of Bauxite Resources Limited
John Sibly 2,000,000 - - - 2,000,000 2,000,000 -
Scott Donaldson 3,000,000 - - (3,000,000) - - -
No other Directors or key management personnel hold options in the Company.
(ii) Shareholdings
The numbers of shares in the Company held during the financial year by each director of Bauxite Resources Limited and other
key management personnel of the Group, including their personally related parties, are set out below. There were no shares
granted during the reporting period as compensation.
Ordinary shares Balance at start
of the year
Received during
the year on the
exercise of
options
Other changes
during the year
Balance at end
of the year
2014
Directors of Bauxite Resources Limited
Robert Nash 254,900 - - 254,900
Peter Canterbury 100,000 - - 100,000
Luke Atkins 17,041,667 - - 17,041,667
Neil Lithgow 19,366,666 - - 19,366,666
John Sibly 40,500 - - 40,500
Other key management personnel of the Company
Sam Middlemas 600,000 - - 600,000
Mark Menzies 200,000 - - 200,000
2013
Directors of Bauxite Resources Limited
Robert Nash 254,900 - - 254,900
Peter Canterbury - - 100,000 100,000
Luke Atkins 17,041,667 - - 17,041,667