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- Release Date: 28/03/12 14:01
- Summary: S/HOLDER: MGL: MGL - CEO intention to exercise Series A Options
- Price Sensitive: No
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MGL
28/03/2012 12:01
S/HOLDER
REL: 1201 HRS Mercer Group Limited
S/HOLDER: MGL: MGL - CEO intention to exercise Series A Options
NZX Release
28 March 2012
Rodger Shepherd, the chief executive of Mercer Group Limited (MGL), has
advised MGL of his intention to exercise his "Series A Options" to take
shares in MGL. The Series A Options were approved by shareholders at the
MGL's annual general meeting on 30 November 2011 and, as currently drafted
and approved, are only exercisable on 2 February 2013. Mr Shepherd has
indicated that he would like to exercise the Series A Options as soon as
possible. The directors consider that it would be in MGL's best interests for
the Series A Options to be exercised as soon as possible because this would
mean that MGL would receive the share subscription price payable under the
Series A Options sooner than would otherwise be the case.
MGL will therefore call a special meetng of the shareholders of the Company
to approve a change to the terms and conditions on which the Series A Options
were issued to Mr Shepherd so that the Series A Options can be exercised on
any date which is on or before 2 February 2013.
A notice of special meeting will be sent to shareholders following approval
by NZX.
End CA:00221253 For:MGL Type:S/HOLDER Time:2012-03-28 12:01:04
