NZR
02/03/2016 14:47
GENERAL
NOT PRICE SENSITIVE
REL: 1447 HRS The New Zealand Refining Company Limited
GENERAL: NZR: Refining NZ establishes employee share purchase scheme
The New Zealand Refining Company Limited ("Refining NZ") is pleased to
announce the launch of the Refining NZ Employee Share Purchase Scheme ("the
Scheme"). The Scheme has been approved by the Inland Revenue as an employee
share purchase scheme in accordance with section DC 12 of the Income Tax Act
2007.
The purpose of the Scheme is to recognise the important contribution that
Refining NZ employees make to Refining NZ's future and to allow them to share
in Refining NZ's future success. Eligible Refining NZ employees will soon
receive offer letters inviting them to participate in the Scheme in respect
of the 2015 financial year.
A Trust has been created for the purpose of purchasing Refining NZ ordinary
shares on market and holding the shares until they are allocated under the
Scheme. Refining NZ will make a contribution to the Trust of approximately
$319,800 towards the acquisition of shares. The contribution may constitute
"financial assistance" within the meaning of the Companies Act 1993.
A disclosure document relating to Refining NZ's intention to provide
financial assistance will today be sent to all shareholders in accordance
with the requirements of the Companies Act 1993. A copy of the disclosure
document is attached to this NZX release. No action is required by
shareholders with respect to the document as it is provided for disclosure
purposes only.
D.M. Jensen
Chief Financial Officer / Company Secretary
Marsden Point
2 March 2016
End CA:00278684 For:NZR Type:GENERAL Time:2016-03-02 14:47:38
