Performance Share Rights – Capital Change Notices

Capital Change Notice





Section 1: Issuer information
Name of issuer Comvita Limited
NZX ticker code CVT
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZCVTE0001S7
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 1,508
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security Not applicable
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
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

0.0021%
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)
Not applicable
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Issue to Company Executives
under the Comvita Limited
Performance Share Rights
Scheme
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.
70,154,541 ordinary shares
230,420 treasury stock

In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable
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
8 October 2021

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

Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Nigel Greenwood
Contact person for this announcement Nigel Greenwood
Contact phone number 027 238 9522
Contact email address nigel.greenwood@comvita.com
Date of release through MAP

8 October 2021

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Capital Change Notice




Notice of issue of Performance Share Rights under the Comvita Limited (CVT or Company)
Performance Share Rights Scheme. This notice is given under the NZX Listing Rules 3.13.1
and relates to the issuance of performance share rights which are convertible into fully paid
ordinary shares in CVT should certain vesting conditions and performance hurdles be met
under CVT’s Performance Share Rights Scheme.


Section 1: Issuer information
Name of issuer Comvita Limited
NZX ticker code CVT
Class of financial product Performance Share Rights, each
representing an entitlement to acquire
an ordinary share in CVT (“PSR’s”)
ISIN (If unknown, check on NZX website) NZCVTE0001S7
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 3,015 PSR’s
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security PSR’s issued under the Scheme for nil
consideration
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
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

0.63% of PSR’s on issue, giving rights
in respect of ordinary shares equal to
0.0043% of the total ordinary shares on
issue (post 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 2 years. Vesting is subject to
continued employment and occurs in 2
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 will rank equally with all
other ordinary shares on issue.
PSRs do not entitle the holder to
receive dividends or other distributions,

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

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.
62,756 PSR’s issued on 25 September
2020

24,922 PSR’s issued on 4 September
2020

166,320 PSR’s issued on 31 August
2021 in relation to the financial year
ended 30 June 2021

218,373 PSR’s issued 31 August 2021
in relation to the financial year ended
30 June 2022

3,015 PSR’s issued 8 October 2021

475,386 Total PSR’s

No treasury stock
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock
Not applicable
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
08 October 2021
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Nigel Greenwood
Contact person for this announcement Nigel Greenwood
Contact phone number 027 238 9522
Contact email address nigel.greenwood@comvita.com
Date of release through MAP

8 October 2021