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Reach Resources Limited ( (AU:RR1) ) has issued an update.
Reach Resources Limited has disclosed a change in director Robert Downey’s indirect interests following the expiry of certain performance-based securities held via his spouse, Stella Emily Downey. A total of 600,000 non-executive director performance rights in Tranche B lapsed at no value after the relevant performance milestones were not met.
Following the expiry, Downey’s indirect interests continue to comprise fully paid ordinary shares, listed options, and substantial unlisted options across two tranches. The update, lodged under ASX disclosure rules, slightly reduces his performance-based exposure but leaves his overall equity and option alignment with shareholders largely intact.
More about Reach Resources Limited
Reach Resources Limited is an Australian company listed on the ASX, operating in the resources sector. The company is involved in the exploration and development of mineral assets, providing investors exposure to commodities-focused projects within the Australian market.
Average Trading Volume: 3,902,116
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$9.79M
Learn more about RR1 stock on TipRanks’ Stock Analysis page.