Establishment of NED Fixed Trading Plan
Serko Limited, Saatchi Building, Unit 14D 125 The Strand, Parnell, Auckland, New Zealand
PO Box 47-638, Ponsonby, T: +64 9 309 4754, F: +64 9 377 0545, investor.relations@serko.com
Market Release
29 November 2017
Establishment of NED Fixed Trading Plan
At Serko Limited’s (NZX:SKO) recent Annual Meeting held on 23 August 2017
1
, the Chairman indicated to
shareholders that that the Board intended to introduce a policy requiring non-executive directors to
invest a portion of their annual directors’ fees in Serko shares. The Board confirms that it has now
established a Fixed Trading Plan (Plan) in accordance with section 260 of the Financial Markets Conduct
Act 2013.
Serko Chairman, Mr Botherway said: “The Board believes that entry into this Plan better aligns each non-
executive director’s interests with those of the shareholders of the Company and demonstrates non-
executive directors’ support of Serko’s long-term strategy”.
Under the terms of the Plan, non-executive directors have agreed to invest varying annual amounts,
totalling approximately 45% of total non-executive director fees per annum in Serko shares, over a fixed
term of three-years (Term). An independent broker will automatically apply the designated fees to the
monthly acquisition of shares on-market during the Term. Once a non-executive director has entered the
Plan, they have no ability to influence share trading decisions under the Plan and no ability to withdraw
from the Plan before the end of the Term. Further, the directors are not permitted to trade any shares
acquired under the Plan for the duration of their tenure as directors of Serko (except in the event of a
takeover).
ENDS
For investor relations queries please contact:
Susan Putt
Chief Financial Officer, Serko
Phone: +64 21 388 009
investor.relations@serko.com
1
Refer Annual Meeting speech released to the NZX on 23 August 2017.
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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