VGL
28/08/2015 08:32
GENERAL
NOT PRICE SENSITIVE
REL: 0832 HRS Vista Group International Limited
GENERAL: VGL: VGL - Vista Group approves LTI scheme for employees
Market Announcement
28th August 2015, Vista Group International Ltd, Auckland, New Zealand
Vista Group Long Term Incentive Scheme for employees
Vista Group International Limited (Vista) has long recognised the value of
its employees and the positive impact that they can have on the growth and
performance of the company's within Vista. Following on from the share gift
and the discounted share offer to staff at the time of the companies listing
in August 2014, Vista has met the commitment outlined in the Prospectus (3
July 2014), and reaffirmed in the 2014 Annual Report, to establish a Long
Term Incentive Scheme (LTI) for selected Vista employees.
To meet this commitment the Board has now approved the implementation of an
LTI for selected Vista employees in New Zealand, the United Kingdom and the
United States.
The LTI is designed to secure those employees' retention in Vista's business
and to reward performance in support of the achievement of Vista's business
strategy. The LTI will enable the selected employees to acquire shares in
Vista, subject to the achievement of certain performance hurdles and vesting
conditions over a period of three years.
The key features of the LTI are:
o The relevant employees will be offered an award of a specified number of
performance rights in Vista (in accordance with the LTI rules).
o Those employees will be required to achieve vesting conditions over set
time periods (two and three years) and the Company will have to achieve
performance hurdles. The performance hurdles measure Vista's total
shareholder return performance against the total shareholder return of the
members of the NZX50 over a period of time.
o If those performance hurdles and vesting conditions are met, and the
employee remains employed for an additional three months after the vesting
date, the employee will be entitled to receive one Vista share for each
performance right issued (for which no consideration will be payable).
Offers to participate may be extended to other employees in the future.
Contact:
Brian J Cadzow
Director - Finance and Legal
Email - [email protected]
Phone - +64 9 984 4570
End CA:00269224 For:VGL Type:GENERAL Time:2015-08-28 08:32:17
