Notice pursuant to NZX Main Board Listing Rule 7.12.1
In accordance with NZX Main Board Listing Rule 7.12.1, The a2 Milk Company
Limited (ATM) advises that the following securities have been issued on 28
September 2017:
Class of Security: Performance rights representing an entitlement to acquire
ordinary shares in the Company
ISIN: Not applicable - the performance rights will not be listed on the NZX
Main Board or the ASX
Number issued: 406,000 performance rights
Issue price: Not applicable
Payment in cash: Not applicable
Amount paid up (if not in full): Not applicable
Percentage of the total class of securities issued: 17.29%
Reason for issue: The grant of the performance rights is part of the ongoing
long term incentive arrangements that ATM has adopted to assist in the
reward, retention and motivation of its employees
Specific authority for issue: Board resolution
Terms or details of issue: Each performance right is issued pursuant to the
terms and conditions of ATM''s Long Term Incentive Plan (LTIP). Each
performance right includes a vesting condition that the participant must
remain an Employee (as defined in the LTIP Rules) up to and including the
vesting date (being 1 September 2020), subject to ATM achieving a compound
annual growth rate in diluted earnings per share (CAGR) from the financial
year ended 30 June 2017 to the financial year ended 30 June 2020 of at least
15%. The proportion of performance rights that will vest will be determined
on a straight-line basis between the following parameters (rounded down to
the nearest whole number):
o 50% of the performance rights will vest if a CAGR of 15% is achieved; or
o 100% of the performance rights will vest if a CAGR of 20% or more is
achieved.
Upon vesting, each performance right will entitle the holder to one ordinary
share in ATM.
Total number of securities of the class in existence after the issue: 960,000
performance rights issued on 17 August 2015, 895,000 performance rights
issued on 8 February 2017, 87,000 performance rights issued on 10 March 2017
and 406,000 performance rights issued on 28 September 2017.
Treasury stock (acquisition only): Not applicable
Date of issue: 28 September 2017
Geoffrey Babidge
Managing Director
The a2 Milk Company Limited
+61 2 9697 7000
End CA:00307939 For:ATM Type:SECISSUE Time:2017-09-28 16:09:39