Aeris Annual Report 2022

LIKELY DEVELOPMENTS
The operating and financial review sets out information
on the Group’s business strategies and likely developments.
Other than the information set out in the Operating
Financial Review, further information about likely
developments in the operations of the group and
the expected results of those operations in future
financial years has not been included in this report
because disclosure of the information would be likely
to result in unreasonable prejudice to the Group.
There were no additional shares under option
nor any shares under option cancelled during
the period ending 30 June 2022.
SHARES ISSUED ON THE EXERCISE OF OPTIONS
47,228,407 ordinary shares of the Company were
issued during the twelve months to 30 June 2022 on
the exercise of Options. Please refer to page 71 of the
Remuneration Report for additional information.
DIVIDEND
The Directors have not recommended payment
of a dividend for the year to 30 June 2022.
No dividend was paid during the current year.
ENVIRONMENTAL REGULATIONS
The Group’s operations are subject to various
Commonwealth and State environmental regulations
governing the protection of the environment in areas
ranging from air and water quality, waste emissions
and disposal, environmental impact assessments, mine
rehabilitation and access to, and use of ground water
and/or surface water. In particular, some operations
are required to conduct certain activities under the
environmental protection legislation with development
consents of the jurisdiction in which they operate. The
Directors are not aware of any material breaches of
the Group’s licences and all mining and exploration
activities have been undertaken in compliance
with the relevant environmental regulations.
DIRECTORS’ AND OFFICERS’
INSURANCE AND INDEMNITY
The Constitution of the Company provides that
the Company may indemnify each Officer (including
Secretaries) and Director against any liability, loss, damage,
cost or expense incurred by the Officer or Director in or
arising out of the conduct of any activity of the Company.
In accordance with the Company’s Constitution,
the Company has entered into Deeds of Indemnity,
Access and Insurance with each of the Directors
and Officers of the Company.
The Company has paid a premium and other
charges for a Directors and Officers Liability insurance
policy for the benefit of the Directors and Officers
of the consolidated entity and its subsidiaries. The policy
prohibits the disclosure of the nature of the liabilities
insured and the amount of premium paid.
LOANS TO DIRECTORS
No loans have been provided by the Company to Directors.
PERFORMANCE RIGHTS
At the Company’s Annual General Meeting held on
26 November 2020, the shareholders approved the
Company’s Equity Incentive Plan. 48,782,493 performance
rights remain on issue relating to that issued to employees
of Aeris Resources Limited, Lion Mining Pty Ltd and
Tritton Resources Pty Ltd under this plan, during the
financial year ending 30 June 2022 and 30 June 2021.
PROCEEDINGS ON BEHALF OF THE COMPANY
No proceedings have been brought or intervened on
behalf of the Company with leave of the Court under
section 237 of the Corporations Act 2001 during the
year ended 30 June 2022 or at the date of this report.
INDEMNITY OF AUDITORS
AERIS ANNUAL REPORT 2022
SHARES UNDER OPTION
Executive management options (Options) issued were
approved by shareholders at an Extraordinary General
Meeting (EGM) held on 15 December 2015. The number of
Options granted on 15 December 2015 totalled 93,410,609
at a $nil exercise price. All of these options had been
exercised by 31 December 2021.
Aeris Resources Limited has agreed to indemnify their
auditors, PricewaterhouseCoopers, to the extent permitted
by law, against any claim by a third party arising from Aeris’
breach of their agreement. The indemnity stipulates that
Aeris Resources Limited will meet the full amount of any
such liabilities including a reasonable amount of legal costs.
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