THL – 2017 Long Term Incentive Plan

Self drive
Experiences
New Zealand
Australia
USA
UK


Design &
manufacturing
New Zealand
Australia

Guided
experiences
New Zealand

Tourism Holdings Limited
The Beach House
Level 1, 83 Beach Road
Auckland City
PO Box 4293, Shortland Street
Auckland 1140, New Zealand
Tel: +64 9 336 4299
Fax: +64 9 309 9269
www.thlonline.com





3 April 2017

NZX ANNOUNCEMENT

TOURISM HOLDINGS LIMITED (thl)
LONG TERM INCENTIVE SCHEME

The board of thl has resolved to establish a long term incentive scheme for employees. The board has
approved the initial grant of 1,040,000 options to the Chief Executive and other senior executives of the
company under this new long term incentive scheme.

This long term incentive scheme will replace the existing long term incentive scheme thl currently
operates (although the existing scheme will remain in place until all future entitlements are realised or
forfeited).

The key terms of the new long term incentive scheme are as follows:

 thl will grant options to acquire ordinary shares in thl. The options will not be quoted and will
not hold voting rights. Each option may be converted into one ordinary share in thl on their
exercise.
 1/3 of the options will vest 2 years after the grant date; 1/3 will vest 3 years after the grant
date; and 1/3 will vest 4 years after the grant date.
 In order to exercise the options, the participant must pay the applicable exercise price. The
exercise price for each option will be calculated by reference to the volume weighted average
price of each thl share during the 20 working day period prior to the relevant grant date plus an
uplift to reflect the company’s average cost of capital for the first two years from the grant date
less dividends paid during that two-year period.

The board believes that the long term incentive scheme benefits both shareholders and employees by
aligning the interests of the employees with shareholders and incentivising them to grow the value of
the company.

END

Authorised by:
Rob Campbell
Chairman
Tourism Holdings Limited


For further information, contact:
Grant Webster
thl Chief Executive
Direct Dial: +64 9 336 4255 | Mobile: +64 21 449 210

About thl (www.thlonline.com)

---

Self drive
Experiences
New Zealand
Australia
USA
UK


Design &
manufacturing
New Zealand
Australia

Guided
experiences
New Zealand

Tourism Holdings Limited
The Beach House
Level 1, 83 Beach Road
Auckland City
PO Box 4293, Shortland Street
Auckland 1140, New Zealand
Tel: +64 9 336 4299
Fax: +64 9 309 9269
www.thlonline.com





3 April 2017

NZX ANNOUNCEMENT

TOURISM HOLDINGS LIMITED (thl)
NOTIFICATION OF ISSUE OF SECURITIES – LONG TERM INCENTIVE SCHEME

For the purposes of Listing Rule 7.12.1 of the Main Board/Debt Market Listing Rules, Tourism Holdings
Limited advises that the following securities have been issued:

a) Class of Security:
ISIN:
Unlisted options
Not applicable
b) Number issued 1,040,000 unlisted options
c) Issue price: Nil
d) Payment in cash: Not applicable
e) Amount paid up (if not in full): Not applicable
f) Terms of the Securities:
The options are issued pursuant to the Tourism Holdings
Limited Long Term Incentive Scheme 2017 and the key terms
of that scheme are as follows:
 Each option may be converted into one ordinary share in
thl on their exercise.
 1/3 of the options will vest 2 years after the grant date;
1/3 will vest 3 years after the grant date; and 1/3 will vest
4 years after the grant date.
 The exercise price for each option will be calculated by
reference to the volume weighted average price of each
thl share during the 20 working day period prior to the
relevant grant date plus an uplift to reflect the company’s
average cost of capital for the first two years from the
grant date less dividends paid during that two-year
period.
g) Percentage of the total Class of
Securities issued:
100%
h) Reason for the issue: Options issued to the Chief Executive and other senior
executives of thl under the Tourism Holdings Limited Long
Term Incentive Scheme 2017.
i) Authority for the issue: Board resolution
j) Terms or details of the issue: As above

2
k) Total number of Securities of the
Class in existence after the issue:
1,040,000 unlisted options
l) Treasury stock: Not applicable
m) Date of issue: 3 April 2017


END

Announcement authorised by:
Rob Campbell
Chairman
Tourism Holdings Limited


For further information, contact:
Grant Webster
thl Chief Executive
Direct Dial: +64 9 336 4255 | Mobile: +64 21 449 210

About thl (www.thlonline.com)