Financial Assistance – Employee Share Scheme
PG 1
Meridian Energy’s provision of financial assistance in connection
with its Employee Share Scheme
11 July 2018
Meridian has an Employee Share Scheme (MyShare) for its New Zealand based permanent employees. MyShare is
designed to provide Meridian’s employees with an opportunity to buy shares in Meridian and receive bonus shares for
continuing to be an employee and shareholder.
Under MyShare, if participants remain employed by Meridian and retain ownership of their Meridian shares for three
years then participants are eligible for a cash bonus. The cash bonus is used by CRS Nominees Limited (the Nominee)
to purchase shares at market price on behalf of participants.
In connection with the FY16 MyShare scheme, Meridian has given financial assistance for the purchase of shares in
Meridian in accordance with the terms of the MyShare Scheme. The financial assistance has been provided pursuant to
section 80 of the Companies Act 1993.
The details of the financial assistance provided by Meridian are as follows:
Shares in respect of which the financial
assistance was provided
57,702 ordinary shares in Meridian Energy Limited
Consideration paid for the shares $3.185 per share
Recipients of the financial assistance Eligible participants of Meridian Energy’s FY16 MyShare Scheme
Nature and amount of the financial
assistance
The financial assistance was given in the form of a cash bonus to
eligible participants for the purpose of enabling the Nominee to
purchase Meridian shares on behalf of the participants. The aggregate
amount of the financial assistance was $362,500 which included a
cash bonus and an additional amount to cover the operating costs of
the trustee.
PG 2
ENDS
Neal Barclay
Chief Executive
Meridian Energy Limited
For investor relations queries, please contact:
Owen Hackston
Investor Relations Manager
021 246 4772
For media queries, please contact:
Polly Atkins
External Communications
021 174 1715
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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