Capital Change Notice

Capital Change Notice





Section 1: Issuer information
Name of issuer Comvita Limited
NZX ticker code CVT
Class of financial product Unlisted Performance Share
Rights which convert to Ordinary
Shares (“PSR’s”)
ISIN (If unknown, check on NZX website) NZCVTE0001S7
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 24,922 PSR’s
Nominal value (if any) N/A
Issue/acquisition/redemption price per security No consideration is payable for
the issue of PSR’s
Nature of the payment (for example, cash or other
consideration)
N/A
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)
1

The 24,922 PSRs issued
comprise 16.97% of the financial
products of that class. If all the
vesting conditions were met, and
all 24,922 PSRs were converted
to ordinary shares, they would
convert into 0.0357% of CVT’s
ordinary shares (based on the
69,779,952 ordinary shares
currently on issue).
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 PSR’s are subject to a
vesting period of 3 years.
Vesting is subject to continued
employment and occurs in 3
tranches (annually). Upon
vesting of the PSR’s, shares will
be transferred from treasury
stock or new shares will be
issued in the capital of the
Company on the terms and
conditions described in the
Comvita Limited Performance
Share Rights Scheme. The
shares will be transferred or
issued (as applicable) for no
consideration and will be
credited as fully paid up. One
PSR will convert into one
ordinary share upon vesting and

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

will rank equally with all other
ordinary shares on issue.
PSRs do not entitle the holder to
receive dividends or other
distributions, or vote in respect
of CVT ordinary shares. Holders
of PSRs cannot transfer or grant
security interests over them.
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason for
change must be identified here)
Offer to Company Executives
under the Comvita Limited
Performance Share Rights
Scheme to incentivise
executives.
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.
Quoted Ordinary Shares remain
unchanged at 69,779,952.
Performance Share Rights
issued total 146,835 (not quoted
on NZX).
Partly Paid Shares issued total
617,500 (not quoted on NZX).
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
Listing Rule 4.6.1
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
In accordance with the terms of
the Comvita Limited
Performance Share Rights
Scheme
Date of issue/acquisition/redemption
2
04/12/2020
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement David Banfield
Contact person for this announcement David Banfield
Contact phone number 027 234 7011
Contact email address Investor.Relations@comvita.com
Date of release through MAP

04/12/2020