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- Release Date: 31/07/12 14:46
- Summary: GENERAL: KMD: KMD - Notification of Performance Rights
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KMD
31/07/2012 12:46
GENERAL
REL: 1246 HRS Kathmandu Holdings Limited
GENERAL: KMD: KMD - Notification of Performance Rights
31 July 2012
Market Information Services Section
New Zealand Exchange Limited
Wellington
NOTIFICATION OF PERFORMANCE RIGHTS
For the purposes of Listing Rule 7.12.1 of the NZSX Listing Rules, Kathmandu
Holdings Limited advises the following performance rights have been issued:
a) Class of securities: Performance rights to ordinary shares
pursuant to
Kathmandu Holdings Limited Long Term Incentive Plan
ISIN: ISIN NZKMDE0001SE
b) Number of securities issued: Performance rights in respect of
221,920 ordinary shares
c) Nominal value: Not applicable
Issue price: Nil, pursuant to Kathmandu Holdings Limited
Long Term Incentive Plan
d) Payment in cash? No. The performance right to be
allocated ordinary shares
in Kathmandu Holdings Limited is subject to satisfaction of certain
performance conditions with regards to Earnings Per Share and Total
Shareholder Returns.
e) Amount paid up: Nil
f) Percentage of total class issued: 0.01%
g) Reason for issue: Issue of performance rights to
selected Executive employees
to be allocated ordinary shares in the company upon the satisfaction of
certain conditions
h) Specific authority for the issue: Resolution at Annual General
Meeting of shareholders dated 18
November 2011 and resolution of Directors on 17 November 2011.
i) Terms or details of the issue:
i. The holder has the right to be issued Ordinary Shares vesting as
follows:
Tranche Vesting Date Number
o Tranche 1 1 December 2013 73,973
o Tranche 2 1 December 2014 73,973
o Tranche 3 1 December 2015 73,973
ii. 50% of vesting is subject to the company achieving Total Shareholder
Return performance relative to a defined comparable group of companies and
vest on a sliding scale proportionate to the Total Shareholder Return
performance;
iii. 50% of vesting is subject to an Earnings Per Share growth hurdle and
vest on a sliding scale proportionate to the total Earnings Per Share growth;
iv. Rights expire on
Tranche Expiry Date
o Tranche 1 1 December 2013
o Tranche 2 1 December 2014
o Tranche 3 1 December 2015
j) Total number of securities of
the class after issue: 221,920 Performance Rights - Kathmandu
Holdings Limited
Long Term Incentive Plan
344,517 Performance Rights - Kathmandu Holdings Limited
Long Term Incentive Plan
k) Treasury Stock: Not applicable
l) Date of issue: 30 November 2011
Mark Todd
Company Secretary
End CA:00225493 For:KMD Type:GENERAL Time:2012-07-31 12:46:59
