Monday, 20 August 2018

Announcement

ADMIN: AIR: Issue of Performance Rights

07 Dec 2017 12:44NZX
ISSUE OF PERFORMANCE RIGHTS

In 2015, Air New Zealand Limited (AIR) (the Company) adopted a new Long Term
Incentive Performance Rights Plan (the Plan).
The Company advises that it has issued 3,096,055 performance rights for no
consideration to the Chief Executive Officer and selected executives under
the Plan.  The performance rights were issued on 30 November 2017 as approved
by the directors of the Company on 23 November 2017.
The performance rights issued under the Plan give participants the right to
receive ordinary shares in the Company subject to certain vesting conditions
being met on or after 9 September 2020.  The vesting of performance rights
are subject to the Company''s share price outperforming a comparison index
made up 50:50 between the NZX All Index and the Bloomberg World Airline Index
over a three year measurement period from the date of issue.  In particular:
(a) 50% of performance rights will vest if the Company''s share price has
matched the index over the measurement period; and

(b) for each 1% the share price outperforms the index, a further 2.5% of
performance rights will vest until reaching the maximum 100%.

If the share price does not match the index on the third anniversary of the
issue date, there will be a further six-month opportunity for the performance
rights to vest.

In connection with the issue, the Company advises the following details:

Issue under Air New Zealand Long Term Incentive Performance Rights Plan
Air New Zealand Limited announces that it has issued 5,961,948 Performance
Rights pursuant to Air New Zealand''s Long Term Incentive Performance Rights
Plan.

In connection with the issue, Air New Zealand advises the following details:
(a) Class of security and ISIN: Performance Rights-  ISIN: N/A
(b) Number of Performance
Rights issued: 3,096,055
(c) Issue Price:  NIL
(d) Payment in cash: NIL
(e) Amount paid up: N/A
(f) Percentage of total
class of securities: 25% (of Performance Rights on issue)
(g) Reason for issue: Issued under the Air New Zealand Long Term
Incentive Performance Rights Plan
(h) Specific authority for issue: Directors'' Resolution
(i) Terms or details of issue: Issued under the Air New Zealand Long
Term
Incentive Performance Rights Plan
(j) Total number of securities of
the class after issue: 12,529,494 (Performance Rights)
(k) Treasury Stock: Not applicable
(l) Date of issue: 30 November 2017 (Grant Date: 9 September 2017,
Vesting Date 9 September 2020)
End CA:00311566 For:AIR    Type:ADMIN      Time:2017-12-07 12:44:23
Views: 189
Air New Zealand Limited (NS)
 3.050 Change:
0.00
0.00%
 
Open:3.050 
High:3.050 
Low:3.050 
Volume:27,876 
Last Traded:07/02/18 09:15:20 
Bid:3.050 
Ask:3.000 
52-Wk High:3.610 
52-Wk Low:2.080