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- Release Date: 16/12/13 13:37
- Summary: ALLOT: KMD: KMD - Notification of Performance Rights
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KMD
16/12/2013 11:37
ALLOT
REL: 1137 HRS Kathmandu Holdings Limited
ALLOT: KMD: KMD - Notification of Performance Rights
KMD - Notification of Performance Rights
13 December 2013
Market Information Services Section
New Zealand Exchange Limited
Wellington
NOTIFICATION OF PERFORMANCE RIGHTS
For the purposes of Listing Rule 7.12.1 of the NZSX Listing Rules, Kathmandu
Holdings Limited
advises the following performance rights have been issued:
a) Class of securities: Performance rights to ordinary shares pursuant to
Kathmandu Holdings Limited Long Term Incentive Plan
ISIN: ISIN NZKMDE0001SE
b) Number of securities issued: Performance rights in respect of 285,987
ordinary shares
c) Nominal value: Not applicable
Issue price: Nil, pursuant to Kathmandu Holdings Limited Long Term
Incentive Plan
d) Payment in cash? No. The performance right to be allocated ordinary shares
in Kathmandu Holdings Limited is subject to satisfaction of
certain performance conditions with regards to Earnings Per
Share and Total Shareholder Returns.
e) Amount paid up: Nil
f) Percentage of total class issued: 0.14%
g) Reason for issue: Issue of performance rights to selected Executive
employees to be allocated ordinary shares in the company
upon the satisfaction of certain conditions
h) Specific authority for the issue: Resolution at Annual General Meeting of
shareholders dated 20
November 2013.
i) Terms or details of the issue:
i. The holder has the right to be issued Ordinary Shares vesting as follows:
Tranche Vesting Date Number
o Tranche 1 1 December 2015 95,329
o Tranche 2 1 December 2016 95,329
o Tranche 3 1 December 2017 95,329
ii. 50% of vesting is subject to the company achieving Total Shareholder
Return
performance relative to a defined comparable group of companies and vest on a
sliding scale proportionate to the Total Shareholder Return performance;
iii. 50% of vesting is subject to an Earnings Per Share growth hurdle and
vest on a
sliding scale proportionate to the total Earnings Per Share growth;
iv. Rights expire on
Tranche Expiry Date
o Tranche 1 1 December 2015
o Tranche 2 1 December 2016
o Tranche 3 1 December 2017
v. Performance rights will lapse where the performance conditions are not
met.
vi. Performance rights will lapse where the holder ceases to be employed by
the
Kathmandu Group before the end of a performance period.
j) Total number of securities of
the class after issue: 229,678 Performance Rights - Kathmandu Holdings
Limited
Long Term Incentive Plan
221,920 Performance Rights - Kathmandu Holdings Limited
Long Term Incentive Plan
261,009 Performance Rights - Kathmandu Holdings Limited
Long Term Incentive Plan
722,169 Performance Rights - Kathmandu Holdings Limited
Long Term Incentive Plan
k) Treasury Stock: Not applicable
l) Date of issue: 11 December2013
Mark Todd
Company Secretary
End CA:00245235 For:KMD Type:ALLOT Time:2013-12-16 11:37:09
