Employee Share Scheme Shares issued (unpaid)

Please find attached a Capital Change Notice in relation to Employee Share Scheme Shares issued on 31 March 2022.

The shares have been issued unpaid and, once allocated to employees, may be paid up by those employees (or on their behalf by PYS) when the shares vest. Generally, one third of the allocation will vest upon allocation, one third will vest 12 months after allocation and the final third will vest 24 months after allocation. The Employee Share Scheme Shares have been issued to incentivise employees and align their interests with shareholders

Once employee share scheme shares vest and are fully paid up they become ordinary shares and the issuance today represents 0.91% of all ordinary shares on issue in PYS

A total of 1,265,319 shares were issued at an average market price of $0.2842

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Announcement PDF