Capital Change Notice

Capital Change Notice





Section 1: Issuer information
Name of issuer Mercury NZ Limited
NZX ticker code MCY
Class of financial product Unquoted performance share
rights (PSRs), convertible to
Mercury NZ Limited ordinary
shares pursuant to Mercury’s
2019 Executive LTI Plan
ISIN (If unknown, check on NZX website) N/A
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 382,997
Nominal value (if any) Nil
Issue/acquisition/redemption price per security Nil
Nature of the payment (for example, cash or other
consideration)
No consideration is payable for
the PSRs.
The PSRs have a set exercise
price of $0.
Amount paid up (if not in full) N/A
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)
The PSRs comprise 100% of the
financial products of that class.
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)
The PSRs become exercisable
on certain performance hurdles
being met over an initial 3-year
performance period and in
certain other exceptional
circumstances.
On becoming exercisable, each
PSR entitles the holder to one
fully paid Mercury NZ Limited
ordinary share, ranking equally
with all other Mercury NZ Limited
ordinary shares.
The PSRs have a set exercise
price of $0.
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason for
change must be identified here)
Issue of 382,997 PSRs under
the Mercury 2019 Executive LTI
Plan for senior executives of
Mercury NZ Limited. Directors’
resolutions dated 21 September
2020.

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.
382,997 PSRs.

No PSRs are held as treasury
stock.
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’ resolutions dated 21
September 2020.

Listing Rule 4.6.1
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
The PSRs become exercisable
on certain performance hurdles
being met over an initial 3-year
performance period and in
certain other exceptional
circumstances.
On becoming exercisable, each
PSR entitles the holder to one
fully paid Mercury NZ Limited
ordinary share, ranking equally
with all other Mercury NZ Limited
ordinary shares.
PSRs do not entitle the holder to
receive dividends or other
distributions, or vote in respect
of Mercury NZ Limited ordinary
shares, although under the
terms of the plan an additional
number of shares will be issued
on conversion of fully vested
PSRs to reflect dividends paid to
Mercury NZ Limited shares prior
to exercise.
Holders of PSRs cannot transfer
or grant security interests over
them.
Date of issue/acquisition/redemption 07/10/2020
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement
Howard Thomas, Company
Secretary
Contact person for this announcement Howard Thomas
Contact phone number 09 308 8270
Contact email address Howard.Thomas@mercury.co.nz
Date of release through MAP

08 October 2020