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- Release Date: 30/08/12 12:59
- Summary: GENERAL: AIA: AIA Auckland Airport approves staff share scheme
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AIA
30/08/2012 10:59
GENERAL
REL: 1059 HRS Auckland International Airport Limited
GENERAL: AIA: AIA Auckland Airport approves staff share scheme
Today, the Board of Directors of Auckland Airport has voted to approve an
offer to employees to participate in a share purchase plan ("Plan"). The
Plan was established by Auckland Airport in 1999 and this will be the fourth
time employees will have been given the opportunity to participate in the
Plan since its inception. The Plan is intended to encourage and incentivise
employees by providing them with a stake in the company and a financial
interest in its performance and success.
The Plan involves Auckland Airport making interest free loans to employees of
up to $2,340 per employee to fund the acquisition of ordinary shares in the
company ("Shares"), to be issued to the trustees of the Plan on behalf of
participating employees. The loans will be repaid by employees in regular
instalments over this three year term by way of a deduction from their salary
or wages.
A maximum of 400,000 Shares will be issued at a price to be calculated at the
time of issue which will be equivalent to the volume weighted average market
selling price of the Shares (ignoring ostensibly abnormal transactions) on
the NZSX over the 10 NZSX trading days ending at the close of trading on 10
October 2012, less a discount of 10% and otherwise on the terms and
conditions of the Plan.
The new Shares will rank in full for all dividends declared by Auckland
Airport after the date of issue and shall rank equally in all respects with
the existing Shares.
The Board may cancel its decision to issue the Shares at any time before they
are issued. If it does so, the Shares shall not be issued by the company.
Ends
For further information, please contact:
Richard Llewellyn
Corporate Relations Manager
Auckland Airport
+64 (0) 9 255 9089
+64 (0) 27 477 6120
End CA:00226678 For:AIA Type:GENERAL Time:2012-08-30 10:59:51
