Performance share rights issue

22 December 2020
Performance share rights issue
Blis Technologies Limited (Company) has issued performance share rights for no consideration to
certain members of its senior leadership and senior management teams. The performance share
rights were approved by the directors of the Company on 21 December 2020.
The performance rights give the holder options to receive ordinary shares in the Company, which
may be exercised if the performance rights vest. The vesting period is three years from the date the
performance rights are granted, and vesting of the performance rights is conditional on the
Company meeting certain compound annual growth targets set by the board in respect of its share
price and net profit, and the continuous employment of the relevant holder.

Ends

For further information, please contact:

Tony Offen
Chair
+64 21 463 336


About Blis Technologies Ltd

Delivering proven health benefits through evidence-based, advanced probiotics
Blis Technologies is an NZX-listed manufacturer of advanced probiotic strains that go beyond the gut. Combining
innovation with evidence-based research and the highest quality production controls enables the delivery of probiotic
solutions for specific health targets including throat health, halitosis (bad breath), immune support and teeth and gum
health. BLIS® products are sold throughout New Zealand and in Australia, Asia, Europe and the USA. More information
about Blis Technologies Ltd can be found at www.blis.co.nz.

---

Capital Change Notice




Section 1: Issuer information
Name of issuer Blis Technologies Limited
NZX ticker code BLT
Class of financial product Options to acquire ordinary
shares
ISIN (If unknown, check on NZX website) NZBLTE0002S8
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 2,674,000 (convertible into
ordinary shares on a 1:1 ratio)
Nominal value (if any) N/A
Issue/acquisition/redemption price per security No amount is payable for the
options. The options have an
exercise price of $0.08 per
share or if this less than 85%
of the Average Market Price of
ordinary shares on the date of
issue then the exercise price
will be the average market
price (which has the meaning
in the Listing Rules).
Nature of the payment (for example, cash or other
consideration)
Non-cash consideration for
services provided by the
holders of the options, being
BLT's senior management
team.
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

If on vesting, all options are
exercised, 0.2414% of the
ordinary shares in BLT (based
on the number of 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 holder's options will vest in
three years on the
achievement of certain
financial conditions being met
and the continuous
employment of each option
holder.
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Issue of options for retention
and incentivising the senior
management team.

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

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.
2,674,000 options
1,107,653,565 ordinary shares
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 dated 21
December 2020
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
Options are issued on the
terms of the directors'
resolution. They do not vest
for 3 years and only on the
conditions being met.
Date of issue/acquisition/redemption
2
21 December 2020
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Richard Wingham
Contact person for this announcement Richard Wingham
Contact phone number 021 284 0446
Contact email address richard.wingham@blis.co.nz
Date of release through MAP

22 December 2020




2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).