VGL
25/01/2016 08:30
GENERAL
NOT PRICE SENSITIVE
REL: 0830 HRS Vista Group International Limited
GENERAL: VGL: VGL- first grant complete under Board approved LTI scheme
MARKET ANNOUNCEMENT
25 January 2016, Vista Group International Ltd, Auckland, New Zealand
Vista Group completes first grant under Board approved LTI scheme
On 28 August 2015 Vista Group announced the approval of a Long Term Incentive
scheme (LTI) to recognise the value of the Vista Group employees and the
positive impact that they can have on the growth and performance of the
companies within Vista Group.
The LTI is designed to secure the retention of those employees in Vista's
business and to reward performance in support of the achievement of Vista's
business strategy.
The first grant under the LTI scheme has now been completed with an effective
commencement date of 1 January 2015. This is the 2015 grant under the LTI.
A total of 205,930 performance rights have been awarded in the 2015 grant to
a number of employees and these will vest in two tranches. Tranche one
comprises 102,965 performance rights and has a vesting period of two years
and three months. Tranche two comprises 102,965 performance rights and has a
vesting period of three years and two months. The vesting of each tranche is
subject to Vista Group achieving certain performance hurdles contained within
the LTI scheme. Upon vesting each performance right will entitle the holder
to one ordinary share.
If the 2015 grant vested in full on the date of this announcement it would
equate to 0.25% of current issued capital and increase the number of
securities on issue to 80,179,019.
Brian Cadzow
Director - Commercial and Legal
Vista Group International Ltd
Contact: +64 9 984 4570
End CA:00276738 For:VGL Type:GENERAL Time:2016-01-25 08:30:09
