Here we go, found it in the annual report. Criteria for the 517,857,143 performance shares.
Class A Performance Shares – these performance shares will vest in the event that the earnings before interest, tax, depreciation and amortisation of TV2U and its subsidiaries (EBITDA) is greater than or equal to $5 million (in any rolling 12 month period) within two years of Settlement.
Class Date Granted Expiry Date Number EBITDA 1 A 9 February 2016 9 February 2018 89,285,715 $5M 2 B 9 February 2016 9 February 2019 107,142,857 $10M 3 C 9 February 2016 9 February 2020 142,857,143 $15M 4 D 9 February 2016 9 February 2020 178,571,428 $20M
Class B Performance Shares – these performance shares will vest in the event that the EBITDA is greater than or equal to $10 million (in any rolling 12 month period) within three years of Settlement.
Class C Performance Shares – these performance shares will vest in the event that the EBITDA is greater than or equal to $15 million (in any rolling 12 month period) within four years of Settlement.
Class D Performance Shares – these performance shares will vest in the event that the EBITDA is greater than or equal to $20 million (in any rolling 12 month period) within four years of Settlement.
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Ann: Release From Escrow, page-38
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