Morella Corporation Ltd (PK)【ALTAF】株式ニュース

19 October 2023 Executive Incentive Share Package
Morella Corporation Limited (ASX: 1MC “Morella” or “the Company”) wishes to announce the Board has
approved an incentive package to reward the Company’s Directors and Executive for their efforts during the
2022/2023 Financial Year.
The objective of the Company's executive reward framework is to ensure reward for performance is
competitive and appropriate for the results delivered. The framework aligns executive reward with the
achievement of strategic objectives and the creation of value for shareholders, and it is considered to conform
to the market best practice for the delivery of reward. The Company’s remuneration philosophy is to attract,
motivate and retain high performance and high quality personnel and is designed to align executive reward to
shareholders' interests.
As a part of the process to finalise the 30 June 2023 Annual Report for Morella, the Board undertook a thorough
review of the Companies performance.
The Remuneration & Nomination Committee, which comprises the full Board of Morella, have determined, the
results of the Company during the period warranted an award of Performance Shares to reflect the
performance of the Directors and Executive.
The Board has determined that a total of 40,143,723 Performance Shares should be issued to Directors and
Executives pursuant to the Company’s Executive Incentive Plan (EIP). The Performance Shares are unrestricted
fully paid ordinary shares in the Company.
Shareholders approved the EIP at the 2022 AGM held on 25 November 2022. Under the EIP a grant of
Performance Shares, can be made on terms and conditions approved by the Board. Shareholder approval of
the EIP enabled the Company to grant entitlements to fully paid ordinary shares for a 3-year period following
shareholder approval, without utilising its placement capacity under ASX Listing Rule 7.1.
James Brown, the Managing Director of Morella stated that
“During the 2022/2023 Financial Year the team at Morella have invested significant time, to progress the
Company on behalf of the shareholders. It has been a difficult year and not everything has gone our way but
the Board could not be more pleased with the efforts of the staff and management.”
“The Board believes that the issue of Equity Securities to Executives is a valuable tool to assist the Company in
the retention of the Directors and Management of the Company. Remuneration packages are reviewed and
determined with due regard to relevant market conditions and each individual’s experience and qualification
and are benchmarked against comparable industry salaries.”
“The Board believes that the Company continues to move forward with its portfolio and is extremely optimistic
in regard to the potential of the Company’s projects at Mallina in Western Australia and Fish Lake Valley and
North Big Smoky in Nevada USA. We have a rigorous evaluation strategy in place for Mallina and Fish Lake
Valley with the foundation of this work to be delivered before the year end and setting the platform for further
progression in 2024."
https://wcsecure.weblink.com.au/pdf/1MC/02727350.pdf

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