DeSoto Resources Limited (ASX:DES) has issued 1,000,000 fully paid ordinary shares under its employee incentive scheme on 5 November 2026, following the satisfaction of relevant performance-based hurdles, according to a filing lodged with the exchange.

Key Points

  • DeSoto Resources issued 1,000,000 fully paid ordinary shares as Employee Incentive Shares on 5 November 2026
  • The shares were issued under the company's employee incentive scheme following satisfaction of performance-based hurdles
  • The shares were issued without disclosure under Part 6D.2 of the Corporations Act 2001
  • The company stated that no "excluded information" exists that is required to be disclosed under section 708A(8) of the Corporations Act

Section 708A Notice Details

The filing constitutes a notice under section 708A(5)(e) of the Corporations Act 2001 (Cth). DeSoto Resources disclosed that the 1,000,000 Employee Incentive Shares were issued without disclosure under Part 6D.2 of the Corporations Act. The company confirmed that, as at the date of the notice, it has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the company, as well as with section 674 and section 674A of the Corporations Act. The release was authorised by the Board of Directors of DeSoto Resources Limited.

Performance-Based Hurdles Satisfied

According to the filing, the issuance of the 1,000,000 fully paid ordinary shares followed the satisfaction of the relevant performance-based hurdles under the company's employee incentive scheme. The filing does not specify the nature of those performance-based hurdles or the individuals to whom the Employee Incentive Shares were allocated. The shares are described as fully paid ordinary shares, and the filing does not disclose any additional terms or conditions attached to the securities following their issuance.

Excluded Information Disclosure

DeSoto Resources stated in the filing that, as at the date of the notice, there is no information that constitutes "excluded information" as defined in section 708A(7) of the Corporations Act that is required to be disclosed by the company in accordance with section 708A(8) of the Corporations Act. The company is registered in Australia and is listed on the Australian Securities Exchange under the ticker DES, with its registered office located at 16/100 Railway Road, Daglish, Western Australia.