ORION MINERALS LIMITED - Share Issue - Notice under Section 708A(5)(e)

Share Issue - Notice under Section 708A(5)(e)

Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1


Share Issue – Notice under Section 708A(5)(e)


Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) advises that it has today issued 12,167,670 fully paid
ordinary shares in the Company (Shares) at a deemed issue price of $0.0176 (being ZAR20 cents) (calculated by
applying the volume weighted average price for the 180 days ending 17 December 2024) to key management
personnel and management of the Company (Personnel), as part of a short term incentive (STI) scheme approved
by the Board. Orion Personnel are eligible to participate in the STI scheme, to receive awards of a percentage of
fixed annual remuneration per annum. The Shares issued to such Personnel follows achievement of certain key
performance indicators and performance objectives, as previously determined by the Board.

The issue of these Shares falls within Orion's 15% capacity for issues of equity securities without shareholder approval
afforded by ASX Listing Rule 7.1.

In accordance with section 708A(5)(e) of the Corporations Act 2001 (Act), the Company advises as follows:
  
1.   this notice is being given under paragraph 708A(5)(e) of the Act;
 
2.   the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act;
 
3.   as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they
     apply to the Company;
 
4.   as at the date of this notice, the Company has complied with section 674 and section 674A of the Act; and
 
5.   all information of the kind that would be required to be disclosed to the market for the purposes of section
     708A(6)(e) of the Act has been disclosed to ASX Limited.

For and on behalf of the Board.


Denis Waddell
Chairman

7 February 2025


ENQUIRIES

Investors                                   Media                               JSE Sponsor
Errol Smart – Managing Director & CEO       Nicholas Read                       Monique Martinez
Denis Waddell – Chairman                    Read Corporate, Australia           Merchantec Capital
T: +61 (0) 3 8080 7170                      T: +61 (0) 419 929 046              T: +27 (0) 11 325 6363
E: info@orionminerals.com.au                E: nicholas@readcorporate.com.au    E: monique.martinez@merchantec.com

Date: 07-02-2025 09:06:00
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