Issue of ordinary shares and performance rights

NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com

12 March 2020

Issue of ordinary shares and performance rights to employees of NZX Limited
(NZX) and redemption of employee restricted shares

NZX advises that it has issued $1,000 of ordinary shares (gross of tax) in NZX to each of its
employees as at 3 February 2020 who have joined NZX since NZX’s previous issue of $1,000
of ordinary shares to employees as at 1 February 2019.

NZX also advises that it has converted employee restricted shares into ordinary shares in NZX
pursuant to the NZX Limited Employee Share Plan – Team and Results. The employee
restricted shares were issued in 2017 under the Results and Team sections of the plan and
became eligible for vesting on 31 December 2019.

NZX also advises that it has redeemed employee restricted shares pursuant to the NZX Limited
Employee Share Plan – Team and Results. The employee restricted shares were issued in
2017 under the Results and Team sections of the plan and did not become eligible for vesting
because participants have left NZX.

NZX also advises that this is the last year it will convert or redeem employee restricted shares
because the NZX Limited Employee Share Plan – Team and Results was superseded by NZX’s
Long Term Incentive Plan (referred to below) in 2018.

NZX also advises that it has issued performance rights to the members of its executive and
management teams pursuant to NZX’s Long Term Incentive Plan. The performance rights give
the holder options to acquire ordinary shares in NZX, which may be exercised if the
performance rights vest. The vesting period for the performance rights is 1 January 2020 to 31
December 2022.

The total number of ordinary shares on issue is now 276,455,458.

There are no longer any employee restricted shares on issue.

The total number of performance rights on issue is now 4,098,204.

The attached information is supplied pursuant to NZX Listing Rule 3.13.1.

For further information, please contact:
David Glendining
Head of Communications
T: 09 375 9866
M: 027 301 9248
E: david.glendining@nzx.com

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NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com
Page 1 of 2
12 March 2020
Notice of issue of ordinary shares to employees of NZX Limited (NZX)

This notice is given under NZX Listing Rule 3.13.1 and relates to the issue of $1,000 of ordinary
shares (gross of tax) in NZX to every permanent employee of NZX (full-time and part-time) as at
3 February 2020 who has joined NZX since NZX's previous issue of $1,000 of ordinary shares
to employees as at 1 February 2019 (
Specified Employees
).
Section 1: issuer information
Name of issuer NZX Limited
NZX ticker code NZX
Class of Financial Product NZX Limited Ordinary Shares
ISIN NZNZXE0001S7
Section 2: capital change details
Number issued 33,275
Nominal value (if any) N/A
Issue price No consideration is payable for the issue of the NZX
Limited Ordinary Shares
Nature of the payment N/A
Amount paid up Fully paid
Percentage of total class of Financial
Products issued
0.0121% (as a percentage of NZX Limited Ordinary
Shares in existence immediately prior to this issue
and the issue of 737,905 NZX Limited Ordinary
Shares to participants in the NZX Limited Employee
Share Plan – Team and Results, to four decimal
places)
For an issue of Convertible Financial
Products or Options, the principal terms
of Conversion or the Option
N/A
Reason for issue and specific authority
for issue
The issue of the shares will: (1) increase the
engagement of Specified Employees; (2) encourage
cultural change in order to deliver on NZX's strategy;
and (3) align the interests of Specified Employees
with that of NZX's shareholders, by encouraging
them to think like shareholders.
Total number of Financial Products of
the Class after the issue and the total
number of Financial Products of the
Class held as Treasury Stock after the
issue.
276,455,458 NZX Limited Ordinary Shares (includes
the issue of 737,905 NZX Limited Ordinary Shares to
participants in the NZX Limited Employee Share Plan
– Team and Results)

Page 2 of 2

In the case of an acquisition of shares,
whether those shares are to be held as
treasury stock
No
Specific authority for the issue Resolution of directors dated 12 February 2020.
Terms or details of the issue The terms of the issue of shares are: (1) Specified
Employees will be issued $1,000 (gross of tax) of the
NZX Limited Ordinary Shares in a one-off grant; (2)
Specified Employees will not be able to decline the
grant of shares; (3) the number of shares a Specified
Employee receives will be determined by reference
to the volume weighted average price of the NZX
Limited Ordinary Shares on the NZX Main Board
during the five business days before the day before
the issue date; (4) there will be no performance,
tenure or other requirement placed on any Specified
Employee in order to receive the shares; (5)
Specified Employees will not pay any consideration,
whether in cash in otherwise, for the shares; and (6)
there will be no restrictions on the shares once they
have been transferred to a Specified Employee.
Date of issue 12 March 2020
Section 3: authority for this announcement
Name of person authorised to make this
announcement
David Glendining
Head of Communications
Contact phone number T: 09 375 9866
M: 027 301 9248
Contact email address david.glendining@nzx.com
Date of release via MAP 12 March 2020

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NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com
Page 1 of 2
12 March 2020
Notice of issue of ordinary shares to employees of NZX Limited (NZX)

This notice is given under NZX Listing Rule 3.13.1 and relates to the issue of ordinary shares to
participants in the NZX Limited Employee Share Plan – Team and Results.
Section 1: issuer information
Name of issuer NZX Limited
NZX ticker code NZX
Class of Financial Product NZX Limited Ordinary Shares
ISIN NZNZXE0001S7
Section 2: capital change details
Number issued 737,905
Nominal value (if any) N/A
Issue price $1.0164
Nature of the payment Cash
Amount paid up Fully paid
Percentage of total class of Financial
Products issued
0.2677%% (as a percentage of NZX Limited Ordinary
Shares in existence immediately prior to this issue
and the issue of 33,275 NZX Limited Ordinary
Shares to every permanent employee of NZX (full-
time and part-time) as at 3 February 2020 who has
joined NZX since NZX's previous issue of $1,000
worth of ordinary shares to employees as at 1
February 2020, to four decimal places)
For an issue of Convertible Financial
Products or Options, the principal terms
of Conversion or the Option
N/A
Reason for issue and specific authority
for issue
Employee restricted shares eligible to vest pursuant
to the terms of the NZX Limited Employee Share
Plan – Team and Results, as authorised by Clause 9
of the NZX Limited Employee Share Plan – Team
and Results.
Total number of Financial Products of
the Class after the issue and the total
number of Financial Products of the
Class held as Treasury Stock after the
issue.
276,455,458 NZX Limited Ordinary Shares (includes
the issue of 33,275 NZX Limited Ordinary Shares to
every permanent employee of NZX (full-time and
part-time) as at 3 February 2020 who has joined NZX
since NZX's previous issue of $1,000 worth of
ordinary shares to employees as at 1 February 2019)

Page 2 of 2

In the case of an acquisition of shares,
whether those shares are to be held as
treasury stock
No
Specific authority for the issue Clause 9 of the NZX Limited Employee Share Plan –
Team and Results
Terms or details of the issue The employee restricted shares are transferred in
accordance with the terms of the NZX Limited
Employee Share Plan – Team and Results
Date of issue 12 March 2020
Section 3: authority for this announcement
Name of person authorised to make this
announcement
David Glendining
Head of Communications
Contact phone number T: 09 375 9866
M: 027 301 9248
Contact email address david.glendining@nzx.com
Date of release via MAP 12 March 2020

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NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com
Page 1 of 2
12 March 2020
Notice of redemption of employee restricted shares

This notice is given under NZX Listing Rule 3.13.1 and relates to the redemption of employee
restricted shares under the NZX Limited Employee Share Plan – Team and Results.
Section 1: issuer information
Name of issuer NZX Limited
NZX ticker code NZX
Class of Financial Product Employee restricted shares
ISIN N/A
Section 2: capital change details
Number redeemed 59,033
Nominal value (if any) N/A
Redemption price $1.0164
Nature of the payment Cash
Amount paid up Fully paid
Percentage of total class of Financial
Products redeemed
7.4075% (as a percentage of employee restricted
shares in existence immediately prior to this
redemption and the conversion of 737,905 employee
restricted shares into NZX Limited Ordinary Shares
pursuant to the terms of the NZX Limited Employee
Share Plan – Team and Results, to four decimal
places)
For an issue of Convertible Financial
Products or Options, the principal terms
of Conversion or the Option
N/A
Reason for redemption and specific
authority for redemption
Employee restricted shares ineligible to vest pursuant
to the terms of the NZX Limited Employee Share
Plan – Team and Results, as authorised by Clause
11 of the NZX Limited Employee Share Plan – Team
and Results.
Total number of Financial Products of
the Class after the redemption and the
total number of Financial Products of
the Class held as Treasury Stock after
the redemption.
Nil employee restricted shares (includes the
conversion of 737,905 employee restricted shares
into NZX Limited Ordinary Shares pursuant to the
terms of the NZX Limited Employee Share Plan –
Team and Results)

Page 2 of 2

In the case of an acquisition of shares,
whether those shares are to be held as
treasury stock
No
Specific authority for the redemption Clause 11 of the NZX Limited Employee Share Plan
– Team and Results
Terms or details of the redemption The employee restricted shares are redeemed in
accordance with the terms of the NZX Limited
Employee Share Plan – Team and Results
Date of redemption 12 March 2020
Section 3: authority for this announcement
Name of person authorised to make this
announcement
David Glendining
Head of Communications
Contact phone number T: 09 375 9866
M: 027 301 9248
Contact email address david.glendining@nzx.com
Date of release via MAP 12 March 2020

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NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com
Page 1 of 2
12 March 2020
Notice of issue of performance rights to employees of NZX Limited (NZX)
This notice is given under NZX Listing Rule 3.13.1 and relates to the issue of performance
rights to members of NZX’s executive and management teams pursuant to NZX’s Long Term
Incentive Plan.
Section 1: issuer information
Name of issuer NZX Limited
NZX ticker code NZX
Class of Financial Product Performance rights which give the holder options to
acquire NZX Limited Ordinary Shares.
ISIN N/A
Section 2: capital change details
Number issued 1,044,745 performance rights

Nominal value (if any) N/A
Issue price No consideration is payable for the issue of the
performance rights
Nature of the payment N/A
Amount paid up N/A
Percentage of total class of Financial
Products issued
34.2151% (as a percentage of performance rights in
existence immediately prior to this issue, to four
decimal places)
The principal terms of Conversion or the
Option
Issue of performance rights pursuant to NZX’s Long
Term Incentive Plan. The performance rights give the
holder options to acquire NZX Limited Ordinary
Shares, which may be exercised if the performance
rights vest. An executive team member’s
performance rights will vest if NZX meets
performance hurdles in respect of its total return to
shareholders and the growth in its earnings per
share, and on the executive team member remaining
an employee of the NZX Group for the duration of the
three year vesting period. A management team
member’s performance rights will vest on the
management team member remaining an employee
of the NZX Group for the duration of the three year
vesting period

Page 2 of 2

Reason for issue and specific authority
for issue
Issue of performance rights pursuant to NZX’s Long
Term Incentive Plan, as authorised by the resolution
of directors dated 12 February 2020.
Total number of Financial Products of
the Class after the issue (excluding
Treasury Stock) and the total number of
Financial Products of the Class held as
Treasury Stock after the issue.
4,098,204 performance rights
In the case of an acquisition of shares,
whether those shares are to be held as
treasury stock
No
Specific authority for the issue Resolution of directors dated 12 February 2020.
Terms or details of the issue See “The principal terms of Conversion or the
Option” above.
Date of issue 12 March 2020
Section 3: authority for this announcement
Name of person authorised to make this
announcement
David Glendining
Head of Communications
Contact phone number T: 09 375 9866
M: 027 301 9248
Contact email address david.glendining@nzx.com
Date of release via MAP 12 March 2020