Benz Mining Corp. (ASX:BNZ) has disclosed that two directors, Mathew O'Hara and Peter Williams, each acquired 150,000 performance share units on 2 November 2026, following shareholder approval granted on 17 August 2026, according to Change of Director's Interest Notices lodged with the exchange.

Key Points

  • Director Mathew O'Hara acquired 150,000 performance share units on 2 November 2026, held indirectly through the O'Hara Investment Trust, of which he is a beneficiary.
  • Director Peter Williams acquired 150,000 performance share units on 2 November 2026, held indirectly through Torr Family Pty Ltd <Torr A/C>, of which he is a beneficiary.
  • Each set of performance share units comprises three tranches of 50,000 units, vesting upon announcement of Mineral Resources of at least 2 million, 4 million, and 6 million ounces of gold respectively, at a minimum cut-off grade of 0.15 g/t.
  • The performance share units were issued for nil consideration and were approved by shareholders on 17 August 2026.

Performance Share Unit Vesting Conditions for Both Directors

Each director received three tranches of 50,000 performance share units, with vesting tied to Mineral Resource announcements. The first tranche of 50,000 units vests upon announcement of a Mineral Resource of at least 2 million ounces of gold at a minimum cut-off grade of 0.15 g/t. The second tranche of 50,000 units vests upon announcement of a Mineral Resource of at least 4 million ounces of gold at the same minimum cut-off grade. The third tranche of 50,000 units vests upon announcement of a Mineral Resource of at least 6 million ounces of gold at the same minimum cut-off grade.

Mathew O'Hara's Security Holdings After the Change

Following the change on 2 November 2026, Mathew O'Hara holds 1,598,736 CDIs, unchanged from his prior holding, in addition to the 150,000 newly acquired performance share units held across the three vesting tranches described above. His indirect interest in the CDIs and performance share units is held through the O'Hara Investment Trust, in which he is a beneficiary. The previous director's interest notice for Mr O'Hara was dated 17 June 2025, according to the filing. No securities were disposed of, and no consideration was paid for the performance share units.

Peter Williams' Security Holdings After the Change

Following the change on 2 November 2026, Peter Williams holds 1,239,500 ordinary shares, unchanged from his prior holding, in addition to the 150,000 newly acquired performance share units across the three vesting tranches. His indirect interest is held through Torr Family Pty Ltd <Torr A/C>, in which he is a beneficiary. The previous director's interest notice for Mr Williams was dated 9 October 2023, according to the filing. No securities were disposed of, and no consideration was paid for the performance share units. Neither director's securities were traded during a closed period.