Clarification related to Unissued Indeterminate Rights
SYDNEY, Australia, Monday 25 February 2019: Uscom Limited (ASX code: UCM) (the Company or Uscom) advise that:
1. the previous disclosure of Appendix 3B dated 14 January 2019 included that 1,190,476 performance rights had been issued to Rob Phillips in November 2018 was incorrect;
2. the issue of 1,190,476 performance rights to Rob Phillips was approved by the Board in November 2018, but the issue of the rights was subject to the Company making a formal offer of rights to Rob Phillips, and Rob Phillips accepting that offer, and this has not yet occurred.
3. It is noted for completeness that the performance rights to be offered to Rob Phillips are indeterminate rights, which can be settled by unissued ordinary shares in the Company, or alternatively cash, at the Company's option.