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- Release Date: 20/08/13 18:31
- Summary: GENERAL: AIA: AIAL Auckland Airport approves staff share scheme
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AIA
20/08/2013 16:31
GENERAL
REL: 1631 HRS Auckland International Airport Limited
GENERAL: AIA: AIAL Auckland Airport approves staff share scheme
Today, the Board of Directors of Auckland Airport voted to approve an offer
to employees to participate in a share purchase plan ("Plan"). The Plan was
established by Auckland Airport in 1999 and this will be the fifth time
employees will have been given the opportunity to participate in the Plan
since its inception. The Plan is intended to encourage and incentivise
employees by providing them with a stake in the company and a financial
interest in its performance and success.
The Plan involves Auckland Airport making interest free loans to employees to
fund the acquisition of ordinary shares in the company ("Shares"), to be
issued to the trustees of the Plan on behalf of participating employees. The
loans will be repaid by employees in regular instalments over this three year
term by way of a deduction from their salary or wages.
A maximum of 100,000 Shares will be issued at a price to be calculated at the
time of issue which will be equivalent to the volume weighted average market
selling price of the Shares (ignoring ostensibly abnormal transactions) on
the NZSX over the 10 NZSX trading days ending at the close of trading on 2
October 2013, less a discount of 10% and otherwise on the terms and
conditions of the Plan.
The new Shares will rank in full for all dividends declared by Auckland
Airport after the date of issue and shall rank equally in all respects with
the existing Shares.
The Board may cancel its decision to issue the Shares at any time before they
are issued. If it does so, the Shares shall not be issued by the company.
Ends
For further information, please contact:
Simon Lambourne
Corporate Relations Manager
Auckland Airport
+64 (0) 9 255 9089
+64 (0) 27 477 6120
End CA:00239936 For:AIA Type:GENERAL Time:2013-08-20 16:31:18
