Notice of Financial Assistance – Employee Share Scheme

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NZX RELEASE
12 April 2022

Provision of Financial Assistance under Employee Share
Purchase Scheme
In accordance with section 80 of the Companies Act 1993, Channel Infrastructure NZ Limited (Company) is
required to make the following disclosure in respect of financial assistance provided by the Company for the
recent allocation to its employees under the Company’s Employee Share Purchase Scheme (Scheme).
The Company established the Scheme which qualifies as an “Exempt ESS” under section CW26C of the
Income Tax Act 2007 (as amended). The Scheme recognises the important contribution that the Company’s
employees make to its future. By offering shares under the Scheme, the Board considers that it will
incentivise permanent employees to support and remain through the transition period and be committed to a
successful outcome for the Company.
Under the Scheme:
• Participating employees have been offered $2,001 worth of shares in the Company.
• An employee contribution of $1 (deducted from their pre-tax salary or wages) toward the $2,001
offer amount is made.
• The Company has contributed the rest of the cost (i.e. $2,000) of acquiring the shares up to the
$2,001 offer amount. This $2,000 Company contribution amount was approved by the Board, on
the basis of incentivising employees to commit to the transition period and to a successful
outcome for the Company.
• A trust has been previously created under the Scheme, with CRS Nominees Limited acting as
trustee (Trustee), for the purpose of acquiring the Company’s shares either on NZX or by
issuance from the Company and holding those shares on behalf of the participating employees
until they are withdrawn from the Scheme by the participating employee following a period of
restriction.
The details of the financial assistance provided by the Company are as follows:
Shares in respect of which the financial
assistance was provided
502,440 ordinary shares in the Company (Shares).
Consideration paid for the Shares
Recipient of the financial assistance

$1.0550 per Share.
The Trustee received the financial assistance noted
below. The Trustee holds the Shares for the benefit
of the participating employees of the Company who
applied to acquire Shares under the Scheme. The
Shares are held by the Trustee for the participants
until they are withdrawn by the participants following
a restricted period of 3 years from the acquisition

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date, unless released earlier in certain limited
circumstances (e.g. death, sickness etc).
Nature of financial assistance The financial assistance was given in the form of (a)
an advance of NZ$530,000 to the Trustee to
acquire the Shares, which is then paid back to the
Company as subscription funds for the shares; and
(b) approximately NZ$31,000 to cover the costs of
operating the Scheme.
- ENDS -

Authorised by:
Chris Bougen
General Counsel and Company Secretary
ph: +64 27 444 3220
email: Chris.Bougen@channelnz.com