Ann: GENERAL: SAN: Sanford Limited - Long Term Incentive Securities Allotment

• Release Date: 17/12/14 16:24
• Summary: GENERAL: SAN: Sanford Limited - Long Term Incentive Securities Allotment
• Price Sensitive: No
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					SAN
17/12/2014 16:24
GENERAL
NOT PRICE SENSITIVE
REL: 1624 HRS Sanford Limited

GENERAL: SAN: Sanford Limited - Long Term Incentive Securities Allotment

SANFORD LIMITED
SUSTAINABLE SEAFOOD

17 December 2014

Listed Company Relations
NZX Limited
Level 1, NZX Centre
11 Cable Street
WELLINGTON

Notification of allotment of securities

For the purposes of Listing Rule 7.12.1, Sanford Limited (the Company)
advises that the following securities have been issued on 17 December 2014:
a Class of security Unlisted performance share rights issued pursuant to the
Company's long-term incentive plan (the LTI Plan).
 ISIN Not applicable.
b Number issued 46,466 performance share rights.
c Nominal value Not applicable.
 Issue Price Nil consideration is payable for the issue of the performance
share rights. The performance share rights have a nil exercise price.
d Payment terms Not applicable.
e Amount paid up Not applicable.
f Principle terms of performance share rights Issued under the Company's LTI
Plan. The holder has the right to acquire one ordinary share in the Company
ranking pari passu with the existing ordinary shares on exercise of each
performance share right. The performance share rights have a nil exercise
price, but are only exercisable if the Company achieves certain earnings
targets relative to the Company's weighted average cost of capital. The
performance share rights will become exercisable during a 7 month period
after the expiry of the vesting period, after which time any unexercised
performance share rights will lapse.
g Percentage of class of securities 46.67% of the Company's performance share
rights on issue.

h Reason for issue Issue of performance share rights to the Chief Executive
Officer (the CEO) under the Company's LTI Plan to encourage, incentivise and
reward the CEO for growth in certain of the Company's underlying earnings
metrics (as determined by the board).
i Authority for issue Directors' resolution dated 17 December 2014.
j Number of securities in existence after issue 99,563 performance share
rights. The performance share rights are not quoted on NZX.
k Treasury stock Not applicable.
l Date of issue 17 December 2014.

Yours faithfully
Sanford Limited

Dean McIntosh
General Manager Finance and Administration
End CA:00259039 For:SAN    Type:GENERAL    Time:2014-12-17 16:24:22