ARV
15/04/2015 08:30
GENERAL
NOT PRICE SENSITIVE
REL: 0830 HRS Arvida Group Limited (NS)
GENERAL: ARV: Issue of unlisted performance share rights
Arvida Group Limited (Arvida) advises for the purposes of NZX Main Board
Listing Rule 7.12.1, that on 15 April 2015 it issued a total of 1,487,598
unlisted performance share rights to senior executives pursuant to the Arvida
Group Limited Long Term Incentive Plan (the LTI Plan).
a) Class of security
unlisted performance share rights
ISIN - N/A
b) Number issued
1,487,598
c) Nominal value
N/A
Issue Price - No cash consideration is payable on the issue of performance
share rights
d) Payment terms
N/A
e) Amount paid up
N/A
f) Principal terms
The performance share rights are subject to a vesting period of 3 to 6 years
(the vesting periods are: (i) as to 227,514 performance share rights, to 31
March 2018 (ii) as to 420,028 performance share rights, to 31 March 2019
(iii) as to 420,028 performance share rights, to 31 March 2020 and (iv) as to
420,028 performance share rights, to 31 March 2021). Vesting is subject to
the satisfaction of certain performance hurdles (broadly, a total shareholder
return hurdle and a financial hurdle, each applying to 50% of the performance
share rights). Upon vesting, each performance share right can be converted
into one ordinary share in Arvida on exercise for no cash payment
g) Percentage of class of securities
100% of the unlisted performance share rights
h) Reason for issue
Performance share rights issued to senior executives pursuant to the Arvida
Group Limited LTI Plan
i) Authority for issue
Board resolution dated 15 April 2015
j) Terms of issue
As above. The performance share rights cannot be transferred.
k) Number of securities in existence after issue
1,487,598 unlisted performance share rights
224,850,633 quoted ordinary shares
l) Treasury stock
N/A
m) Date of grant
15 April 2015
Yours faithfully
Arvida Group Limited
Jeremy Nicoll
Chief Financial Officer
- ENDS -
End CA:00263090 For:ARV Type:GENERAL Time:2015-04-15 08:30:02
