WDT
22/04/2016 12:50
GENERAL
NOT PRICE SENSITIVE
REL: 1250 HRS Wellington Drive Technologies Limited
GENERAL: WDT: Issue of Performance Based Partly Paid Shares & US Options
Wellington Drive Technologies Limited (NZX:WDT) advises that 3,489,131
performance based partly paid shares and 760,013 share options have been
issued to the CEO and nine senior employees in accordance with the Wellington
Drive Technologies Limited Partly Paid Share Scheme (the "Scheme") and the
Company's United States' Employee Share Option Plan ("Option Plan").
The issuance of the performance based partly paid shares and share options is
subject to the company achieving specific financial performance targets in
the 2016 financial year or at the discretion of the directors pursuant to
rules of the Scheme and Option Plan.
The issue price for these partly paid shares is $0.09425, payable $0.00188 on
issue with the balance payable at any time between 31 March 2017 and 31 March
2019 (together with a holding cost for any payment deferred beyond 31 March
2017). The amount payable on issue will be refunded to the employee in the
event that the employee does not take up the shares.
The performance based partly paid shares are not quoted on the New Zealand
Stock Exchange.
The US share options are issued at a price of $0.117 payable in cash before
31 March 2019 if the option is exercised.
For further information visit www.wdtl.com
Ron Jackson
Company Secretary
+64 9 477 4500
End CA:00281241 For:WDT Type:GENERAL Time:2016-04-22 12:50:56
