KMD
22/12/2015 09:19
GENERAL
NOT PRICE SENSITIVE
REL: 0919 HRS Kathmandu Holdings Limited
GENERAL: KMD: KMD - Notification of Performance Rights - Xavier Simonet
22 Dec 2015
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:
ISIN: Performance rights to ordinary shares pursuant to
Kathmandu Holdings Limited Long Term Incentive Plan
ISIN NZKMDE0001SE
b) Number of securities issued: Performance rights in respect of 407,463
ordinary shares
c) Nominal value:
Issue price: Not applicable
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 Total Shareholder Returns.
e) Amount paid up: Nil
f) Principal term of securities: o Each Performance Right granted under the
Plan entitles the holder to acquire one fully paid ordinary share in
Kathmandu Holdings Limited.
o 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
o 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
o Performance rights will lapse where the performance conditions are not met.
o Performance rights will lapse where the holder ceases to be employed by the
Kathmandu Group before the end of a performance period.
o There is no amount payable by holders either on grant or exercise of the
Performance Rights.
g) Percentage of total class issued: 0.20%
h) Reason for issue: Issue of performance rights to selected Senior
Management employees to be allocated ordinary shares in the company upon the
satisfaction of certain conditions.
i) Specific authority for the issue: Resolution at Annual General Meeting of
shareholders dated 20 November 2015 and resolution of Directors dated 15
December 2015.
j) Terms or details of the issue: i. The holder has the right to be issued
Ordinary Shares vesting on 1 December 2018 provided the employee remains in
employment with the company to that date.
ii. 50% of the number of performance rights that vest will depend on
Kathmandu Holdings Limited's Total Shareholder Return performance relative to
a defined comparable group of companies over the 36 months ending 1 December
2018
iii. 50% of the number of performance rights that vest will depend on
Kathmandu Holdings Limited's Earnings Per Share compound average annual
growth rate between 1 August 2015 and 31 July 2018.
iv. Performance rights will lapse where the performance conditions are not
met.
k) Total number of securities of the class after issue: 407,463 - Performance
Rights - Kathmandu Holdings Limited Long Term Incentive Plan
l) Treasury Stock: Not applicable
m) Date of issue: 16 Dec 2015
Reuben Casey
Company Secretary
End CA:00275551 For:KMD Type:GENERAL Time:2015-12-22 09:19:34
