Ann: GENERAL: SNK: Snakk Employee Share Option Pl

• Release Date: 06/05/13 19:08
• Summary: GENERAL: SNK: Snakk Employee Share Option Plan
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SNK
06/05/2013 17:08
GENERAL

REL: 1708 HRS Snakk Media Limited

GENERAL: SNK: Snakk Employee Share Option Plan

SNK - Option Plan

6 May 2013

Snakk Employee Share Option Plan?
Attracting, retaining and rewarding talent is instrumental to Snakk's success

The Board of Snakk Media Limited (the "Company") is currently finalising the
adoption of an Employee Share Option Plan (the "Plan"), which is intended to
create a pool of options for long-term incentives for both current and future
employees, Directors and advisors ("Participants").

The Plan forms part of the Company's overall strategy to attract and retain
the very best people possible for Snakk, while incentivising staff to
continue focusing on the company's strategic objectives.

"We have an amazing team," says Chairman and co-founder Derek Handley. "Every
one of them has been instrumental to our success to date and every one of
them should feel like they have a shared interest in the long-term success of
the company. Many of the skills required to work in the fast-growing digital
social-mobile technology world are highly specialised and sought after. To be
blunt, there is an ongoing war for talent. We see the Employee Share Option
Plan as a smart way to reward and retain our people, while making the company
an attractive place to work for the new staff we'll be hiring to maintain our
growth levels."

Group CEO Mark Ryan added, "In overseas markets such as Silicon Valley and
London, Employee Options programs are seen as mandatory to success during the
early stages of high-growth businesses - and Snakk needs to compete on a
global benchmark to build an internationally significant business."

The Plan shall be administered by the Board, which shall conduct itself in
compliance with the requirements of the Company's constitution, the laws of
New Zealand and Australia, and rules of the NZAX. The Share Options shall
vest in and become exercisable by a Participant in one or a number of
tranches over a period of time for each recipient.  Where the Share Options
are issued in a number of tranches, each tranche shall vest and become
exercisable on such dates, typically several years of service, which the
Board shall determine provided the services of the Participant continue to be
retained by a member of the Group on those dates.

The Board shall, in respect of each decision to allocate Share Options to
Participants, determine:
(a) The number of Share Options to be issued to a Participant;
(b) The Share Option Price;
(c) The term of the Share Options;
(d) The period of time during which the Share Options shall vest in a
Participant;
(e) Any and all other terms and conditions applying to the issue of Share
Options.

The Board expects to set aside Options equating to less than 5% of the shares
outstanding for current team members and near-term requirements. The Company
is in the process of satisfying all regulatory requirements in respect of
having the Plan registered and will advise the market of full details once
approval has been gained to proceed.

ENDS
End CA:00235907 For:SNK    Type:GENERAL    Time:2013-05-06 17:08:36