XRO
24/09/2014 13:05
GENERAL
REL: 1305 HRS Xero Limited
GENERAL: XRO: Notification of Allotment of Securities
24 September 2014
XERO LIMITED (XRO)
NOTIFICATION OF ALLOTMENT OF SECURITIES
For the purpose of Listing Rule 7.12.1 of the NZX Listing Rules, Xero Limited
advises the following securities have been issued:
Class of Securities Conditional Agreement to issue Ordinary Shares in Xero
Limited (Restricted Stock Units or RSUs)
ISIN NZXROE0001S2
Number of securities issued
RSUs relating to the future issue of up to 12,763 Ordinary Shares
Issue price The RSUs have been granted pursuant to the Xero Limited (USA)
Equity Incentive Scheme as part of the remuneration package of US based
employees. The number of RSUs granted is calculated based on the total
dollar entitlement of all eligible employees divided by NZ$23.0002, being the
20 day volume weighted average market price of Xero Limited's Ordinary Shares
on the NZX through to 22 September 2014. No cash consideration is required
to be paid for the RSUs to vest.
Payment in cash N/A. Issue of RSUs pursuant to the Xero Limited (USA)
Equity Incentive Scheme. No cash consideration is required to be paid for
the RSUs to vest.
Any amount paid up (if not in full) N/A. Issue of RSUs pursuant to the Xero
Limited (USA) Equity Incentive Scheme. No cash consideration is required to
be paid for the RSUs to vest.
Percentage of total class issued (excluding treasury stock) If 100% of the
RSUs were to vest on the date of this notification: 0.01% of issued Ordinary
Shares (to 2.d.p)
Reasons for the issue RSUs granted under the Xero Limited (USA) Equity
Incentive Scheme as part of the remuneration package of US based employees.
Specific authority for the issue Resolution of directors passed on 23
September 2014
Terms or details of the issue Grant of RSUs under the Xero Limited (USA)
Equity Incentive Scheme as part of the remuneration package of US based
employees. The RSUs relate to a conditional right to be issued Ordinary
Shares. The RSUs will vest in specified percentages over three years,
subject to the terms of the Xero Limited (USA) Equity Incentive Scheme
(including the continued employment of the relevant participating employee
with the Xero Limited Group)
Total number of securities of the class in existence after the issue
(excluding treasury stock) (a) 127,856,877 Ordinary Shares
(b) 79,143 RSUs relating to the issue of up to 79,143 Ordinary Shares
Note that there are also 835,123 unlisted options (convertible into Ordinary
Shares on a 1:1 basis) outstanding
Date of issue 23 September 2014 (grant date)
Matt Vaughan
Company Secretary
Email: [email protected]
End CA:00255658 For:XRO Type:GENERAL Time:2014-09-24 13:05:50
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