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- Release Date: 11/09/12 13:38
- Summary: ALLOT: FRE: Shares Issued for Freightways Employee Share Plan
- Price Sensitive: No
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FRE
11/09/2012 11:38
ALLOT
REL: 1138 HRS Freightways Limited
ALLOT: FRE: Shares Issued for Freightways Employee Share Plan
Freightways Limited (FRE:NZX) has today issued 75,000 fully paid ordinary
shares to the Trustee of the Freightways Employee Share Plan (the 'Share
Plan') in satisfaction of acceptances of an offer made to employees to
participate in the Share Plan.
The shares issued represent 0.05% of all fully paid ordinary shares on issue
and were issued to the Trustee of the Share Plan at $3.57 per share,
representing a discount of approximately 10% when compared to the volume
weighted average of the market prices quoted on the New Zealand Stock
Exchange during the two weeks following Freightways full year results
announcement on 13 August 2012.
The issued shares rank equally with all other quoted FRE fully paid ordinary
shares on issue. The issued shares will be held in trust for the Share Plan
participants for three years or until their employment within the Freightways
Group ceases, if that occurs during the three year period. Employees may not
sell the shares while they are held in trust.
For further information please contact:
Dean Bracewell
Managing Director
Ph: (09) 571 9672
Fax: (09) 571 9671
End CA:00227150 For:FRE Type:ALLOT Time:2012-09-11 11:38:42
