FY20 Long Term Incentive Plan Announcement

METRO PERFORMANCE GLASS



NZX.MPG, ASX.MPP 27 June 2019

Senior Management Long Term Incentive Plan for the 2020
financial year

Metro Performance Glass Limited (“Metro Glass”) has made a further offer to selected Metro Glass employees
under Metro Performance Glass Limited’s Long Term Incentive Plan (“LTI”), which was adopted by Metro Glass’
Board in February 2016.
The LTI is designed to secure those employees’ retention in the Metro Glass group and to reward performance
that underpins the achievement of Metro Glass’ business strategy and long term shareholder wealth creation.
The key features of the 2020 LTI plan are unchanged from the 2019 LTI plan. They are as follows:
 Participants will be offered an annual award of a specified number of both performance rights and
share options in Metro Glass (in accordance with the LTI rules)
 The performance rights will enable participants to acquire shares in Metro Glass with no consideration
payable, subject to Metro Glass achieving set performance hurdles and meeting certain vesting
conditions
 The performance right hurdles, are as follows:
o 50% of the participant’s performance rights will vest if Metro Glass’ Total Shareholder Returns
(“TSR”) exceed the 50
th
percentile TSR of those companies comprising the S&P/NZX 50 Index
(the “Peer Group”)
o Between 50% and 100% will vest if Metro Glass’ TSR is between the 50
th
and 75
th
percentile
TSR of the Peer Group (straight line progression)
o 100% will vest if Metro Glass’ TSR exceeds the 75
th
percentile TSR of the Peer Group
 The share options will enable participants to acquire shares in Metro Glass at an exercise price of $0.45
per share, subject to Metro Glass achieving set performance hurdles and meeting certain vesting
conditions. The exercise price represents the average daily volume weighted average price for Metro
Glass shares on the NZX Main Board over the 10 trading days immediately following the release of the
company’s full year results on 23 May 2019
 The share option hurdle requires that Metro Glass’ TSR must exceed a compound annual pre-tax rate
that is 1% above the cost of equity of the Company, as assessed by an independent valuation firm
 For both performance rights and share options, the three year measurement period for performance
hurdles is treated as having commenced on 7 June 2019. If the respective performance hurdles are not
met on the measurement date, retesting will be permitted after a further six and twelve months
 The performance rights and share options will lapse if the participant ceases to be employed by Metro
Glass or one of its subsidiaries. However, if a participant ceases to be employed for reason of
redundancy, illness, injury, death or termination by the company, the Board may in its discretion
determine that the rights and / or options will not lapse
A total of 5,026,812 share options and 1,885,058 performance share rights have been issued under the initial
grants pursuant to the 2020 LTI plan.

Andrew Paterson
Company Secretary
+64 27 4034323

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NZX.MPG, ASX.MPP 27 June 2019
Notification of allotment of securities
For the purposes of Listing Rule 7.12.1 of the NZSX Listing Rules, Metro Performance Glass Limited (“Metro Glass”) advises
that the following performance rights have been issued:

Class of securities issued Performance rights over ordinary shares in Metro Glass
ISIN N/A
Number of securities issued 1,885,058
Issue price Nil
Payment in cash? Nil
Any amount paid up (if not in full) N/A
Percentage of total class issued 100% of 2020 Performance Rights
Reason for the issue Issued under the Metro Performance Glass Limited’s Performance Rights
Plan, originally adopted by the Board in February 2016
Specific authority for the issue Directors’ resolution
Terms or details of the issue The performance rights are issued on the terms set out in the rules of the
Metro Performance Glass Limited Performance Rights Plan. A summary of
these terms (including performance hurdles and applicable measurement
dates) are set out in the NZX announcement made on the date of this
notice.
Total number of securities of the class
in existence after the issue
2017 Performance Rights Plan: 127,950
2018 Performance Rights Plan: 268,446
2019 Performance Rights Plan: 482,760
2020 Performance Rights Plan: 1,885,058
Total Performance Rights: 2,764,214
Date of issue 27 June 2019

For the purposes of Listing Rule 7.12.1 of the NZSX Listing Rules, Metro Glass advises that the following options have been
issued:

Class of securities issued Options over ordinary shares in Metro Glass
ISIN N/A
Number of securities issued 5,026,812
Issue price Nil
Payment in cash? Nil
Any amount paid up (if not in full) N/A
Percentage of total class issued 100% of 2020 Share Options
Reason for the issue Issued under the Metro Performance Glass Limited’s Share Option Plan,
originally adopted by the Board in February 2016
Specific authority for the issue Directors’ resolution
Terms or details of the issue The options are issued on the terms set out in the rules of the Metro
Performance Glass Limited Share Option Plan. A summary of these terms
(including performance hurdles, exercise price and applicable measurement
dates) are set out in the NZX announcement made on the date of this
notice.
Total number of securities of the class
in existence after the issue
2017 Share Option Plan: 532,266
2018 Share Option Plan: 1,073,792
2019 Share Option Plan: 1,538,802
2020 Share Options Plan: 5,026,812
Total Share Options: 8,171,672
Date of issue 27 June 2019


Andrew Paterson
Company Secretary
+64 27 4034323