Friday, 23 February 2018

Announcement

GENERAL: KMD: KMD Notification of Performance Rights CEO/COO

21 Dec 2017 12:37NZX
21 December 2017
Market Information Services Section
New Zealand Exchange Limited
Wellington

NOTIFICATION OF PERFORMANCE RIGHTS

For the purposes of Listing Rule 7.12.1 of the NZSX Listing Rules, Kathmandu
Holdings Limited advises the following performance rights have been issued:

a) Class of securities:

ISIN: Performance rights to ordinary shares pursuant to
Kathmandu Holdings Limited Long Term Incentive Plan
ISIN NZKMDE0001SE
b) Number of securities issued: Performance rights in respect of
374,437 ordinary shares
c) Nominal value:
Issue price: Not applicable
Nil, pursuant to Kathmandu Holdings Limited Long Term Incentive Plan
d) Payment in cash? No. The performance right to be allocated
ordinary shares in Kathmandu Holdings Limited is subject to satisfaction of
certain performance conditions with regards to Total Shareholder Returns.
e) Amount paid up: Nil
f) Principal term of securities: o Each Performance Right
granted under the Plan entitles the holder to acquire one fully paid ordinary
share in Kathmandu Holdings Limited.
o 50% of vesting is subject to the company achieving Total Shareholder
Return performance relative to a defined comparable group of companies and
vest on a sliding scale proportionate to the Total Shareholder Return
performance
o 50% of vesting is subject to an Earnings Per Share growth hurdle and
vest on a sliding scale proportionate to the total Earnings Per Share growth
o Performance rights will lapse where the performance conditions are
not met.
o Performance rights will lapse where the holder ceases to be employed
by the Kathmandu Group before the end of a performance period.
o There is no amount payable by holders either on grant or exercise of
the Performance Rights.
g) Percentage of total class issued: 0.19%
h) Reason for issue: Issue of performance rights to selected
Senior Management employees to be allocated ordinary shares in the company
upon the satisfaction of certain conditions.
i) Specific authority for the issue: Resolution at Annual General
Meeting of shareholders dated 24 November 2017 and resolution of Directors
dated 20 December 2017.
j) Terms or details of the issue: i. The holder has the right to
be issued Ordinary Shares vesting on 1 December 2020 provided the employee
remains in employment with the company to that date.
ii. 50% of the number of performance rights that vest will depend on
Kathmandu Holdings Limited''s Total Shareholder Return performance relative to
a defined comparable group of companies over the 36 months ending 1 December
2020
iii. 50% of the number of performance rights that vest will depend on
Kathmandu Holdings Limited''s Earnings Per Share compound average annual
growth rate between 1 August 2017 and 31 July 2020.
iv. Performance rights will lapse where the performance conditions are
not met.
k) Total number of securities of the class after issue: 374,437 -
Performance Rights - Kathmandu Holdings Limited Long Term Incentive Plan
l) Treasury Stock: Not applicable
m) Date of issue: 20 December 2017

Reuben Casey
Company Secretary
End CA:00312338 For:KMD    Type:GENERAL    Time:2017-12-21 12:37:26
Views: 83
Kathmandu Holdings Limited
 2.310 Change:
0.00
0.00%
 
Open:2.310 
High:2.310 
Low:2.310 
Volume:0 
Last Traded:07/02/18 00:20:50 
Bid:2.310 
Ask:2.350 
52-Wk High:2.620 
52-Wk Low:1.870