Share
- Release Date: 01/10/12 15:02
- Summary: ALLOT: MHI: Notice Pursuant to Listing Rule 7.12.1
- Price Sensitive: No
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MHI
01/10/2012 12:02
ALLOT
REL: 1202 HRS Michael Hill International Limited
ALLOT: MHI: Notice Pursuant to Listing Rule 7.12.1
1 October 2012
Market Information Services Section
NZX
Notice Pursuant to Listing Rule 7.12.1
Michael Hill International Limited ("the Company") sets out below information
regarding the sale of treasury stock, being Ordinary Shares in the Company to
6 employees of the Company or its subsidiaries ("the Employees") pursuant to
the Company's Employee Share Scheme:
- The Company sold 73,958 fully paid Ordinary Shares ("the Shares") to the
Employees on the 20th September 2012.
- The ISIN for the Shares is NZMHIE0001S8
- The Shares were sold for $0.96 per Share. The Employees paid the purchase
price for the Shares in cleared funds.
- The sale of the Shares represents 0.02% of the total class of Ordinary
Shares on issue.
- The Shares were on sold to Employees pursuant to the Company's Employee
Share Scheme which was established in 2001.
- The Shares which have been purchased by the Employees will be held on trust
for the Employees by the Michael Hill Trustee Company Limited ("the Trustee")
for a one year period from the date of acquisition ("the Restricted Period").
Employees are not able to sell, or otherwise deal with, their Shares during
the Restricted Period. Any dividend paid by the Company in respect of an
Employee's Shares will be paid directly to the relevant Employee if that
Employee has provided the Company with his/her bank account details,
otherwise the dividend will be paid to the Trustee to be paid to the relevant
Employee as soon as possible. The Trustee will transfer an Employee's Shares
to him or her within 5 working days of expiry of the Restricted Period. The
Restricted Period does not end upon an Employee ceasing to be employed by
the Company or any of its subsidiaries for any reason whatsoever, other than
death, permanent disability or extreme financial hardship.
- The total number of Ordinary Shares on issue subsequent to the sale to
Employees is 382,849,544. After the issue of 73,958 shares to employees, the
Company also still holds 203,646 shares which are classed as Treasury Stock.
SIGNED FOR MICHAEL HILL INTERNATIONAL LIMITED BY:
Wayne Butler
Company Secretary
End CA:00227962 For:MHI Type:ALLOT Time:2012-10-01 12:02:25
