Friday, 29 March 2024

Announcement

GENERAL: FRE: Redemption of Partly-Paid Ordinary Shares

01 Jul 2016 16:14NZX
REDEMPTION OF PARTLY-PAID ORDINARY SHARES

Notice from Freightways Limited pursuant to Listing Rule 7.12.1. Please be
advised as follows:

(a) Class of Security: Freightways Limited partly-paid ordinary shares.

(b)  Number of Securities redeemed: 17,810

(c) Redemption price: $0.01 per share

(d) Payment: Consideration for the redemption is cash.

(e) Amount paid up: $0.01 per share

(f) Partly-paid ordinary shares are issued in accordance with the Plan Rules
of the Freightways Senior Executive Performance Share Plan. Issued shares are
paid up to one cent only upon issue. The balance of the respective issue
price may only be fully paid up once performance hurdles and vesting periods
have been met in accordance with the Plan Rules. Notwithstanding that the
performance hurdles and vesting periods may have been met, if the partly-paid
ordinary shares have not been fully paid up within 5 years from the issue
date or a participant ceases to be an employee, the Company must redeem and
cancel the relevant partly-paid ordinary shares.

(g) % of the total class of securities redeemed: 4.64% of the partly-paid
shares on issue (prior to this redemption).

(h) Reason for redemption: These partly-paid ordinary shares will not become
eligible to be fully paid up in accordance with the terms of the Freightways
Senior Executive Performance Share Plan as the participant has ceased to be
an employee.

(i) Specific authority for redemption: Pursuant to the terms of the
Freightways Senior Executive Performance Share Plan and as permitted by the
NZX waiver of the application of Listing Rule 7.6.1, granted by NZX with
effect from 30 April 2012.

(j) Terms or details of redemption: The consideration payable by the Company
to the holder of a partly-paid ordinary share upon redemption is the paid up
amount. The partly-paid ordinary shares will be cancelled upon redemption.

(k) Total number of securities of the class in existence after the
redemption: 365,911

(l) Treasury stock (acquisition only): Not applicable

(m) Date of redemption: 1 July 2016

ENDS

For further information please contact:
Dean Bracewell, Managing Director, Freightways Limited, +64 9 571 9670
End CA:00285100 For:FRE    Type:GENERAL    Time:2016-07-01 16:14:43
Views: 145
Freightways Limited
 7.680 Change:
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Open:7.710 
High:7.710 
Low:7.710 
Volume:2,864 
Last Traded:07/02/18 09:12:54 
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52-Wk Low:6.750