Capital Change Notice – Ordinary Share Issue

CAPITAL CHANGE NOTICE

Section 1: Issuer information
Name of issuer Serko Limited (“Serko”)
NZX ticker code SKO
Class of financial product Ordinary shares
ISIN NZSKOE0001S7
Currency NZD
Section 2: Capital change details
Number of issuances to which this Notice relates 1
Number issued/acquired/redeemed 2,727 ordinary shares
Nominal value (if any) N/A
Issue/acquisition/redemption price per security
NZ$3.29 per ordinary share, being the 5
day volume weighted average market price of
Serko Limited’s ordinary shares on the NZX
through to 30 June 2020
Nature of the payment (for example, cash or other
consideration)
The Shares are being issued, in lieu of cash, as part
consideration for services provided by Ms Batten and
Mr McConaghy in their role as non-executive
directors of the Company, for the period 1 April 2020
to 30 June 2020, to a value (representing 15% of each
of their director remuneration for this period) of:
a. NZ$5,381.63 for Ms Batten
b. NZ$3,587.75 for Mr McConaghy.
No cash consideration is payable.
Amount paid up (if not in full) Fully paid
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury Stock,
in existence)
1

This grant represents 0.003% (to 3dp) of the Ordinary
Shares on issue pre-allotment.

For an issue of Convertible Financial Products or Options, the
principal terms of Conversion (for example the Conversion
price and Conversion date and the ranking of the Financial
Product in relation to other Classes of Financial Product) or
the Option (for example, the exercise price and exercise date)
N/A
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason for
change must be identified here)
The following ordinary shares were issued to two
non-executive directors of Serko, in lieu of a portion
(15%) of their cash-based director remuneration for
services provided to the Company in their role as
directors during the period 1 April 2020 to 30 June
2020:
1. 1,636 ordinary shares were issued to Ms
Batten

1

The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

Serko Limited, Saatchi Building, Unit 14D 125 The Strand, Parnell, Auckland, New Zealand
PO Box 47-638, Ponsonby, T: +64 9 309 4754, F: +64 9 377 0545, investor.relations@serko.com
Incorporated in New Zealand ARBN 611 613 980

2. 1,091 ordinary shares were issued to Mr
McConaghy
This has provided cash-flow benefits for Serko during
the Covid affected period.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding Treasury
Stock) and the total number of Financial Products of the
Class held as Treasury Stock after the
issue/acquisition/redemption.
92,751,719 ordinary shares on issue

In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
N/A
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Directors’ resolution, shareholders resolution, Listing
Rule 4.7
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
The ordinary shares issued rank pari passu with the
existing ordinary shares
Date of issue/acquisition/redemption 1 July 2020
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement Susan Putt
Contact person for this announcement Susan Putt, Chief Financial Officer
Contact phone number
+64 21 388 009

Contact email address
investor.relations@serko.com

Date of release through MAP 2 July 2020