Wellington Drive Technologies Limited (NZX:WDT) advises it has issued the
final tranche of a three year partly paid shares and US options long term
incentive programme to nine middle management and senior technical staff.
The CEO and other officers of the Company were not entitled to participate in
this issue.
421,980 partly paid shares have been issued in accordance with the Wellington
Drive Technologies Limited Partly Paid Share Scheme ("Scheme") and 96,215
share options have been issued in accordance with the Company''s United
States'' Employee Share Option Plan ("Share Option Plan"). This issue is 0.2%
of the total number of ordinary shares currently on issue.
The part paid shares were issued at a price of $0.1817 per share, with 2%
payable on issue and the balance payable at any time between 30 September
2019 and 30 September 2021 provided the volume weighted average price of the
Company''s shares on the NZSX immediately prior to 30 September 2019 is in
excess of the issue price. An additional holding cost charge applies in
respect of any payment deferred beyond 30 September 2019.
The part paid shares are not quoted on the New Zealand Stock Exchange.
The share options are issued pursuant to the Share Option Plan at a price of
$0.1820 payable, if the option is exercised, in cash after 30 September 2019
and before 30 September 2020.
For further information visit www.wdtl.com.
Ron Jackson
Company Secretary
+64 9 477 4500
End CA:00290099 For:WDT Type:GENERAL Time:2016-09-30 14:03:18