Issue of Performance Rights

Gentrack Group Ltd | www.gentrack.com | info@gentrack.com | ARBN 169 195 751

21 February 2020
Issue of Performance Rights
Gentrack Group Limited (NZX/ASX: GTK) (Gentrack) advises that it has issued 217,141
PRs to senior executives for nil consideration under the Gentrack Long Term Incentive
Scheme (LTI Scheme).
Each PR issued for this award under the LTI Scheme gives the right to receive one
ordinary share in Gentrack, subject to the holder remaining employed by Gentrack until
the end of the vesting period and achievement of the Performance Hurdle.
The vesting period for this award is from 1 October 2019 until the date the financial
results for the year to 30 September 2022 are released.
The Performance Hurdle is that 50% of the PRs will vest if the Compound Annual Growth
Rate (CAGR) in Earnings Per Share (EPS) of Gentrack over the three financial years of
the measurement period is 7%. The number of PRs that vest increases linearly to 100%
if EPS CAGR is 12%. The Performance Hurdle will be measured over the three years
ending on 30 September 2022.
The Performance Hurdle for vesting of PRs granted in the future will be set by the Board
at the time they are granted.

In connection with the issue, Gentrack advises the following details:

(a) Class of security and ISIN: Performance Rights- ISIN: N/A
(b) Number of Performance Rights issued: 217,141
(c) Issue Price: NIL
(d) Payment in cash: NIL
(e) Amount paid up: N/A
(f) Principal terms See text above
(g) Percentage of total
class of securities:
53.13%
(h) Reason for issue: Issued under the Gentrack LTI Scheme
(i) Specific authority for issue: Directors’ Resolution
(j) Terms or details of issue: Issued under the Gentrack LTI Scheme
(k) Total number of securities of
the class after issue:
408,698
(l) Treasury Stock: Not applicable
(m) Date of issue: 21 February 2020 (Grant Date: 1 October
2019)
ENDS
Contact
Jon Kershaw - Company Secretary
+64 9 966 6090

2

About Gentrack
Gentrack provides essential software for essential services, pairing powerful platforms
with deep market knowledge to help utilities and airports lower service costs, foster
innovation and confidently navigate market reform. It employs over 550 people in
offices across New Zealand, Australia, the UK, Singapore, USA and Europe and
services over 200 utility and airport sites globally with its leading solutions.
Gentrack Cloud is a subscription-based billing, customer information, market
interaction and portfolio analytics solution for energy and water utilities in markets
where flexibility, uniqueness and compliance are essential. Its meter-to-cash
capabilities and managed services offering are designed to enable utilities to
differentiate their businesses in competitive markets, to deliver great customer service
experiences, achieve lower service costs, launch innovative products and stay
compliant with market regulations.
More information: www.gentrack.com
Veovo is Gentrack’s world-class solution for airports, enabling them to unlock
operational, revenue, concession and passenger insights across the airport ecosystem.
Over 100 airports globally are using Veovo to operate more efficiently, uncover new
growth opportunities and deliver outstanding guest experiences.
More information: www.veovo.com