Ann: GENERAL: FRE: Redemption of Partly-paid Shares

• Release Date: 29/08/14 12:57
• Summary: GENERAL: FRE: Redemption of Partly-paid Shares
• Price Sensitive: No
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					FRE
29/08/2014 12:57
GENERAL

REL: 1257 HRS Freightways Limited

GENERAL: FRE: Redemption of Partly-paid Shares

REDEMPTION OF PARTLY-PAID ORDINARY SHARES

Notice from Freightways Limited pursuant to Listing Rule 7.12.1. Please be
advised as follows:

(a) Class of Security: Freightways Limited partly-paid ordinary shares.

(b) Number of Securities redeemed: 24,041

(c) Redemption price: $0.01 per share

(d) Payment: Consideration for the redemption is cash.

(e) Amount paid up: $0.01 per share

(f) Partly-paid ordinary shares are issued in accordance with the Plan
Rules of the Freightways Senior Executive Performance Share Plan. Issued
shares are paid up to one cent only upon issue. The balance of the respective
issue price may only be fully paid up once performance hurdles and vesting
periods have been met in accordance with the Plan Rules. Notwithstanding that
the performance hurdles and vesting periods may have been met, if the
partly-paid ordinary shares have not been fully paid up within 5 years from
the issue date or a participant ceases to be an employee, the Company must
redeem and cancel the relevant partly-paid ordinary shares.

(g) % of the total class of securities redeemed: 4.97% of the partly-paid
shares on issue (prior to this redemption).

(h) Reason for redemption: These partly-paid ordinary shares will not
become eligible to be fully paid up in accordance with the terms of the
Freightways Senior Executive Performance Share Plan as the participant has
ceased to be an employee.

(i) Specific authority for redemption: Pursuant to the terms of the
Freightways Senior Executive Performance Share Plan and as permitted by the
NZX waiver of the application of Listing Rule 7.6.1, granted by NZX with
effect from 30 April 2012.

(j) Terms or details of redemption: The consideration payable by the
Company to the holder of a partly-paid ordinary share upon redemption is the
paid up amount. The partly-paid ordinary shares will be cancelled upon
redemption.

(k) Total number of securities of the class in existence after the
redemption: 459,390

(l) Treasury stock (acquisition only): Not applicable

(m) Date of redemption: 29 August 2014

ENDS

For further information please contact:
Dean Bracewell, Managing Director, Freightways Limited, +64 9 571 9670
End CA:00254599 For:FRE    Type:GENERAL    Time:2014-08-29 12:57:33