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- Release Date: 15/11/13 17:17
- Summary: ALLOT: NZO: Issue of Securities - Employee Share Plan
- Price Sensitive: No
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NZO
15/11/2013 15:17
ALLOT
REL: 1517 HRS New Zealand Oil and Gas Limited
ALLOT: NZO: Issue of Securities - Employee Share Plan
Issue of Securities - Employee Share Plan
Announcement in terms of NZX Listing Rule 7.12.1
Please be advised of an issue of securities as follows:
(a) Class of Security: ordinary shares (partly paid and not listed).
(b) Number issued: 58,000 ordinary shares (partly paid and not listed).
(c) The issue price: 58,000 shares at $1.01 per share. Terms of issue provide
that final payment will take account of the market value of the ordinary
shares at that time resulting in a potential reduction in the issue price
from the amount stated.
(d) Payment was in cash to 1 cent per share.
(e) The shares are partly paid to 1 cent per share. The balance of the issue
price is due in accordance with the terms of the issue set out in (i) below.
(f) The percentage of the total class of securities issued: 0.73% (of the non
listed partly paid shares).
(g) The reason for issue: allocation of shares to an employee under the terms
of the Employee Share Ownership Plan (ESOP). The price is set at a premium
over the market at the time the allocation was awarded. Issue has now been
completed following finalisation of the terms of issue.
(h) The specific authority for the issue: Pursuant to Listing Rule 7.3.6.
(i) The terms or details of the issue: The new shares are issued to and held
by the trustee of the ESOP. The shares remain registered in the name of the
trustee until the balance of the issue price is paid in accordance with the
ESOP rules. Full rights to the new shares attach when the balance of the
issue price is paid. The shares are held in escrow for two years and cannot
be dealt with during that period.
(j) Total number of securities in this Class after the issue: 411,966,224
listed ordinary shares and 7,937,000 partly paid shares.
(k) n/a
(l) Date of issue 15 November 2013.
Ralph Noldan
Company Secretary
John Pagani
External Relations Manager
M: +64 21 570 872
End CA:00243873 For:NZO Type:ALLOT Time:2013-11-15 15:17:40
