Capital Change Notice – CEO Share Rights

Capital Change Notice
Updated as at 17 October 2019



Section 1: Issuer information
Name of issuer Channel Infrastructure NZ
Limited
NZX ticker code CHI
Class of financial product Unquoted share rights (Share
Rights)
ISIN (If unknown, check on NZX website) N/A
Currency NZ$
Section 2: Capital change details
Number issued/acquired/redeemed 232,991
Nominal value (if any) N/A
Issue/acquisition/redemption price per security Share Rights are issued for nil
cash consideration.
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)
4.06%
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)
Each Share Right converts on
a 1:1 basis for nil cash
consideration into fully paid
ordinary shares on the third
anniversary of the award
(unless extended to the fourth
anniversary), subject to the
achievement of the outcomes
sought from the material
decisions made by the board
as part of the Strategic Review
process, to the reasonable
satisfaction of the board.
Vesting is also subject to the
CEO remaining retained
except in certain no-fault
terminations provided the
above performance condition
is satisfied.
Shares will be issued (or
transferred in accordance with
terms of the Channel
Infrastructure Share Rights
Plan) in respect of vested
Share Rights as soon as
reasonably practicable after
vesting. Share Rights rank

behind Channel
Infrastructure’s ordinary
shares, are non-transferable,
cannot be encumbered, and
have no voting or other share
rights. Share Rights are
otherwise subject to the terms
of the individual offer letter and
the rules of the Channel
Infrastructure’s Share Rights
Plan, including that the CEO’s
Rights lapse automatically in
the event of fraud, dishonesty
or wilful default.
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Issue of Share Rights under
Channel Infrastructure’s Share
Rights Plan, on the second
anniversary of the CEO’s
employment in accordance
with the terms of the CEO’s
employment agreement.
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.
5,971,052
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
Resolution of the Board and
Listing Rules 4.6.1 and
4.9.1(b).
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
No cash consideration is
payable by the CEO on the
grant of the Share Rights or on
the issue or delivery of fully
paid ordinary shares following
vesting of Share Rights. As
noted above, vesting of Shares
Rights is subject to continued
employment (subject to early
vesting for no-fault
terminations), together with
other conditions noted above.
Date of issue/acquisition/redemption 9 May 2022
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Chris Bougen
Contact person for this announcement Chris Bougen
Contact phone number +64 27 444 3220
Contact email address Chris.Bougen@channelnz.com
Date of release through MAP

10 May 2022

Capital Change Notice
Updated as at 17 October 2019