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Reedy Lagoon Corporation Limited ( (AU:RLC) ) has provided an announcement.
Reedy Lagoon Corporation Limited has corrected an error in the exercise price of options issued to directors under its Directors’ Option Scheme, which had been approved by shareholders at the company’s November 2025 annual general meeting. The options, which are unquoted, were originally recorded with an exercise price of $0.0054 per option in an ASX filing, but the correct exercise price is $0.0059, reflecting the scheme’s requirement that the price be set at 30% above the 20-day average market value of RLC shares prior to approval.
The company confirmed that all directors have agreed to the higher corrected exercise price, aligning the issued options with the terms approved by shareholders and the valuation method disclosed in the notice of meeting. This correction removes a discrepancy in the prior ASX documentation and reinforces governance around director incentives, ensuring that option pricing properly reflects the intended market-based premium and preserving confidence among investors in the integrity of the company’s equity compensation arrangements.
More about Reedy Lagoon Corporation Limited
Reedy Lagoon Corporation Limited is an Australian-listed company involved in mineral exploration and resource development. Its securities trade on the ASX under the code RLC, and the company is governed by a board that oversees director remuneration and equity-based incentive schemes in line with shareholder approvals and market pricing rules.
Current Market Cap: A$2.33M
For detailed information about RLC stock, go to TipRanks’ Stock Analysis page.