NPX
14/08/2015 08:36
GENERAL
NOT PRICE SENSITIVE
REL: 0836 HRS Nuplex Industries Limited
GENERAL: NPX: Purchase of Shares on Vesting of Performance Share Rights
NZX/ASX RELEASE 14 August 2015
Purchase of Shares on Vesting of Performance Share Rights
At Nuplex's 2010 annual shareholders meeting, shareholders approved Nuplex's
Performance Rights Plan (the Plan) covering the issue of Performance Rights
in the 2011, 2012 and 2013 Financial Years.
In accordance with the Plan, in the 2012 and 2013 Financial Years, 2,452,568
Performance Rights were issued to Nuplex employees. There was no vesting
under the 2011 Financial Year issue. In respect of the 2012 and 2013
Financial Year issues, the achievement in the period to 30 June 2015 of some
of the performance hurdles set out in The Plan, has resulted in the vesting
of a total of 1,035,744 Performance Rights (the Vested Rights).
To satisfy its obligations under the Plan in respect of those Vested Rights,
Nuplex now intends to arrange for 1,033,135 Nuplex ordinary shares to be
acquired on market and transferred to Nuplex employees who hold the Vested
Rights.
Those ordinary shares will be purchased on market by a Group subsidiary,
which will transfer the shares to those employees. The subsidiary will
observe the same trading procedures that apply to the conduct of Nuplex's
share buy-back (as set out in Nuplex's announcement of 18 March 2015) when
purchasing these shares.
In accordance with regulatory requirements the acquisition of shares will not
commence before 28 August 2015.
E James Williams
Company Secretary
Ph: 61 2 80360907
Mob: 61(0)416265511
End CA:00268413 For:NPX Type:GENERAL Time:2015-08-14 08:36:43
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
