Close the Loop Director Sees 900,000 Performance Rights Lapse After Vesting Conditions Not Met

Close the Loop Ltd. ( (AU:CLG) ) has shared an announcement.

Close the Loop Limited has disclosed a change in director Brendan Yee’s interests in the company’s securities, following the lapse and cancellation of 900,000 unlisted performance rights previously held through entities he controls. The performance rights were cancelled at nil consideration after vesting conditions were not met or could no longer be satisfied, leaving Yee’s substantial holdings in fully paid ordinary shares unchanged but reducing his potential performance-based equity exposure, which marginally lowers prospective dilution for existing shareholders and adjusts the structure of his equity incentives without affecting current share capital.

The most recent analyst rating on (AU:CLG) stock is a Sell with a A$0.04 price target. To see the full list of analyst forecasts on Close the Loop Ltd. stock, see the AU:CLG Stock Forecast page.

More about Close the Loop Ltd.

Close the Loop Limited is an Australian-listed company that operates in the recycling and resource recovery sector, focusing on sustainable solutions that recover and reuse materials from products at end of life. The company works with partners and customers to reduce waste to landfill and create circular economy outcomes across its chosen markets.

Average Trading Volume: 308,082

Technical Sentiment Signal: Sell

Current Market Cap: A$19.68M

See more data about CLG stock on TipRanks’ Stock Analysis page.