Sanford Limited – Long Term Incentive Securities Allotment

22 February 2017

Client Market Services
NZX Limited
Level 1, NZX Centre
11 Cable Street
WELLINGTON
By email: announce@nzx.com

NOTIFICATION OF ALLOTMENT OF SECURITIES
For the purposes of Listing Rule 7.12.1, Sanford Limited (the Company) advises that the
following securities have been issued on 22 February 2017:
a Class of security Unlisted performance share rights issued
pursuant to the Company’s long-term
incentive plan (the LTI Plan).
ISIN Not applicable.
b Number issued 38,525 performance share rights.
c Nominal value Not applicable.
Issue Price Nil consideration is payable for the issue of
the performance share rights. The
performance share rights have a nil
exercise price.
d Payment terms Not applicable.
e Amount paid up Not applicable.
f Principle terms of
performance share rights
Issued under the Company’s LTI Plan. The
holder has the right to acquire one ordinary
share in the Company ranking pari passu
with the existing ordinary shares on
exercise of each performance share right.
The performance share rights have a nil
exercise price, but are only exercisable if
certain performance hurdles are met. The
performance share rights will become
exercisable during a 7 month period after
the expiry of the vesting period, after which
time any unexercised performance share
rights will lapse.
g Percentage of class of
securities
21.30% of the Company’s performance
share rights on issue (post allotment).
h Reason for issue
Issue of performance share rights to the
Chief Executive Officer (the CEO) under the
Company’s LTI Plan to encourage,
incentivise and reward the CEO for growth

in certain of the Company’s underlying
earnings metrics (as determined by the
board).
i Authority for issue Directors’ resolution dated 22 February
2017.
j Number of securities in
existence after issue
180,858 performance share rights. The
performance share rights are not quoted on
NZX.
k Treasury stock Not applicable.
l Date of issue 22 February 2017.


Yours faithfully
Sanford Limited







Dean McIntosh
General Manager Risk and Corporate Affairs