NDO 1.22% 83.0¢ nido education limited

Ann: Appendix 3B , page-6

  1. 6,353 Posts.
    lightbulb Created with Sketch. 103
    Guys, they are not performance shares, they are performance rights (to shares) which cannot vest until the specified date in 2017.


    Number acquired:
    (a) Nil
    (b) Nil
    (c) Nil
    (d) Nil
    (e) 18,823,529


    Explanation:
    (e) Grant of Managing Director Performance
    Rights on identical terms to Nido’s Employee
    Performance Rights Plan and following
    approval obtained at the Annual General
    Meeting on 22 May 2014. The Performance
    Rights may vest after the performance period
    which is 27 May 2017. Any Performance
    Rights which do not satisfy the performance
    condition as at the test date of 27 May 2017
    will lapse. Performance Rights may lapse
    earlier in certain circumstances of cessation
    of employment and due to forfeiture.


    You can find an explanation of what the performance conditions/criteria are in the Annual Financial Report to Dec 2013, issued 13 March 2014...pg 94 to be exact.
    Annual Financial Report Year-End 31 December 2013
 
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