XRO
15/02/2016 09:52
GENERAL
NOT PRICE SENSITIVE
REL: 0952 HRS Xero Limited
GENERAL: XRO: Notification of Allotment of Securities
15 February 2016
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
Options to subscribe for Ordinary Shares in Xero Limited (Options)
ISIN
NZXROE0001S2
Number of securities issued
66,442 Options to subscribe for ordinary shares in Xero Limited (Ordinary
Shares) (each Option entitling the holder to subscribe for one Ordinary Share
subject to the terms of the Xero Limited (USA) Equity Incentive Scheme)
Issue price
The Options have been granted pursuant to the Xero Limited (USA) Equity
Incentive Scheme as remuneration and incentive for Chris Liddell and Bill
Veghte in their roles as directors. The exercise price is NZ$16.00 per Option
(being the 20 day volume weighted average market price of an Ordinary Share
in Xero Limited on the NZX Main Board through to 11 February 2016)
Payment in cash
N/A. Grant of 66,442 Options pursuant to the Xero Limited (USA) Equity
Incentive Scheme as remuneration and incentive for Chris Liddell and Bill
Veghte in their roles as directors. To exercise the Options the holder is
required to pay the exercise price for the Options
Any amount paid up (if not in full)
N/A
Percentage of total class issued (excluding treasury stock)
If 100% of the Options were to vest and be exercised on the date of this
notification: 0.049% (as a percentage of Ordinary Shares currently on issue
to 3 d.p.)
Reasons for the issue
Grant of 66,442 Options under the Xero Limited (USA) Equity Incentive Scheme
as remuneration and incentive for Chris Liddell and Bill Veghte in their
roles as directors; approved by the shareholders of Xero Limited at Xero
Limited's Annual Meeting on 22 July 2015
Specific authority for the issue
Resolution of the shareholders of Xero Limited at Xero Limited's Annual
Meeting on 22 July 2015, and resolution of directors passed on 28 January
2016
Terms or details of the issue
Grant of 66,442 Options under the Xero Limited (USA) Equity Incentive Scheme
as remuneration and incentive for Chris Liddell and Bill Veghte in their
roles as directors. The Options vest (and therefore become available for
exercise) in three equal parts on each of the three anniversaries of the
grant date of the Options (with one-third of the Options vesting on each such
anniversary) subject to the terms of the Xero Limited (USA) Equity Incentive
Scheme, including the recipient's continued service as a director of the
Company. The Options have a final exercise date of four years from the grant
date. The Options were approved by the shareholders of Xero Limited at Xero
Limited's Annual Meeting on 22 July 2015
Total number of securities of the class in existence after the issue
(excluding treasury stock)
883,130 unlisted Options (convertible into Ordinary Shares on a 1:1 basis)
There are also (a) 136,691,457 Ordinary Shares on issue; and (b) 769,611
unlisted RSUs (conditional contractual right to be issued up to 769,611
Ordinary Shares) outstanding
Date of issue
12 February 2016 (grant date)
Matt Vaughan
Company Secretary
Email: [email protected]
End CA:00277637 For:XRO Type:GENERAL Time:2016-02-15 09:52:12
