Notice of Allotment of Options

Summerset Group Holdings Limited
Level 27, Majestic Centre, 100 Willis St, Wellington
PO Box 5187, Wellington 6140
Phone: 04 894 7320 | Fax: 04 894 7319
Website: www.summerset.co.nz

NZX RELEASE

10 December 2018

NOTIFICATION OF ALLOTMENT OF OPTIONS

For the purposes of Listing Rule 7.12.1 of the NZX Main Board Listing Rules, Summerset
Group Holdings Limited (NZX: SUM) (Summerset) advises the issue of options (Options)
under the Summerset Share Option Plan (the Plan):
Each grant of Options is split into two tranches. Subject to their continued employment by
Summerset and the achievement of certain performance hurdles, option holders will be able to
exercise the Options in the first tranche in the period beginning on 31 December 2020 and
ending on 30 June 2022. For the second tranche the exercise period begins on 31 December
2021 and ends on 30 June 2023.
The exercise price for the Options is $6.34 per Option (Exercise Price), being the volume
weighted average price of Summerset’s shares on the NZX Main Board in the ten day trading
period which commenced on 26 November 2018.
Upon exercise, Summerset will facilitate a net settled exercise by issuing to the option holder
such number of shares as is equal to the difference between the market value per share of
Summerset’s ordinary shares and the Exercise Price, multiplied by the number of Options
being exercised, divided by the market value per share of Summerset’s ordinary shares.

Class of securities issued Options issued under the Plan
ISIN N/A. The Options will not be quoted.
Number of securities issued 1,153,757 Options
Nominal value and issue price Nil
Principal terms As noted above.
Payment in cash? N/A
Any amount paid up (if not in full) N/A
Percentage of total class issued
(excluding treasury stock)
100%
Reasons for the issue
The board of Summerset has resolved to offer the
Options to selected employees in order to:
(a) reward and retain key employees;
(b) drive longer-term performance and alignment of
incentives of participants with the interests of
Summerset’s shareholders; and
(c) encourage longer term decision-making by
Participants.

Specific authority for the issue Directors’ resolution dated 10 December 2018
Terms or details of the issue As noted above.
Total number of securities of the
class in existence after the issue
1,153,757 Options
Treasury Stock N/A
Date of issue 10 December 2018

For enquiries:
Leanne Walker
Company Secretary
leanne.walker@summerset.co.nz
04 894 7361 or 029 770 8189