BluGlass today issued 7,167,594 fully paid ordinary shares at an issue price of $0.02 each to executives and staff.

The shares were issued under the Company’s COVID-19 compensation program, where a number of staff and the Company’s Directors agreed to accept reduced cash salary and fees, in exchange for shares. The shares were issued at the same price as the recently completed rights issue.

Key points:

  • Share Issued pursuant to the Company’s COVID-19 compensation program

  • program was announced to ASX on 8 April 2020

  • staff and directors accepted reduced cash salary and fees, in exchange for shares

  • 7,167,594 shares issued to executives and staff

  • 2,901,196 shares to be issued to directors, subject to shareholder approval

  • approval to be sought at the 2020 AGM.

  • Issue price of $0.02 per share – same price as recently completed rights issue.

The shares to be issued to Directors (a further 2,901,196 shares) are subject to shareholder approval, and the Company will seek that approval at the coming 2020 AGM.

BluGlass gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (the Act) that:

  1. BluGlass issued the 7,167,594 shares without disclosure under Part 6D.2 of the Act.

  2. As at the date of this notice:

a. BluGlass has complied with the provisions of Chapter 2M of the Act as they apply to BluGlass;

b. BluGlass has complied with section 674 of the Act; and

c. there is no "excluded information" within the meaning of sections 708A(7) and 708A(8) of the Act which is required to be disclosed by BluGlass under section 708A(6)(e) of the Act.

This announcement has been approved for release by the board.

The Appendix 2A can be downloaded here

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