IGO Interactive Annual Report 2018

Notes to the consolidated financial statements 30 June 2018 (continued) 25 Events occurring after the reporting period On 29 August 2018, the Company announced a fully franked final dividend of 2 cents per share to be paid on 27 September 2018. On 3 July 2018, the Company announced that it had entered into tenement purchase and joint venture agreements (the JV Agreements) with three entities owned and controlled by Mark Creasy (Creasy Group). The group of tenements, to be called the Southern Hills tenements, are contiguous to the Nova Mining Lease and cover approximately 1,100km 2 of highly prospective Fraser Range geology over the primary gravity ridge west and southwest of Nova. Following the execution of and pursuant to the JV Agreements, the Company paid the Creasy Group $21,000,000 in July 2018 to earn a 70% managing interest in the Southern Hills tenements. The $21,000,000 purchase price comprised a cash payment of $5,275,000 and the issue of $15,725,000 in shares in Independence Group NL at an issue price equal to the 20-day volume weighted average price to 28 June 2018. Other than the above, there has not arisen in the interval between the end of the financial year and the date of this report any item, transaction or event of a material and unusual nature likely, in the opinion of the Directors of the Company, to affect significantly the operations of the consolidated entity, the results of those operations, or the state of affairs of the consolidated entity, in future financial years, other than as stated elsewhere in the financial report. Other information This section of the notes includes other information that must be disclosed to comply with the accounting standards and other pronouncements, but are not considered critical in understanding the financial performance or position of the Group. 26 Share-based payments The Group provides benefits to employees (including executive directors) of the Group through share-based incentives. Information relating to these schemes is set out below. (a) Employee Incentive Plan The Independence Group NL Employee Incentive Plan (EIP) was approved by shareholders at the Annual General Meeting of the Company in November 2016. The EIP incorporates both broad based equity participation for eligible employees as well as key executive incentive schemes designed to provide long-term incentives to senior management (including executive directors) to deliver long-term shareholder returns. The EIP comprised the following schemes during the current financial year: • Long-term incentive (LTI) - performance rights; • Service rights; and • Employee share ownership award. LTI - Performance Rights Under the LTI scheme, participants are granted share rights which will only vest if certain performance conditions are met and the employees are still employed by the Group at the end of the vesting period. Participation in the LTI scheme is at the Board’s discretion and no individual has a contractual right to participate in the plan or to receive any guaranteed benefits. Equity settled awards outstanding Set out below are summaries of share rights granted under the LTI scheme: Independence Group NL 50 114 — IGO ANNUAL REPORT 2018 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 JUNE 2018