Amaero International Ltd Addresses Compliance Issues with Option Cancellations and Cash Compensation

Amaero International Ltd ( (AU:3DA) ) has issued an update.

Amaero International Ltd announced the cancellation of 1.25 million unquoted options initially issued to its executive directors, Hank Holland and Eric Bono, under the mistaken belief of having obtained shareholder approval. The company will instead compensate them with cash bonuses totaling $250,000, to be paid in installments over three years. This move aims to rectify compliance issues with ASX Listing Rules and ensure accurate market notifications. Additionally, the company identified and addressed breaches related to director interest notifications and corporate governance disclosures, reinforcing its commitment to regulatory compliance and transparency.

More about Amaero International Ltd

Amaero International Ltd operates in the advanced manufacturing industry, focusing on the production of complex components using additive manufacturing technology. The company primarily serves sectors such as aerospace, defense, and automotive, providing innovative solutions through its expertise in 3D printing and metal additive manufacturing.

YTD Price Performance: -18.00%

Average Trading Volume: 542,474

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$141.5M

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