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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- Ann: Appendix 3B
Ann: Appendix 3B , page-6
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