Issue of options under the Skellerup Share Option Plan

Skellerup Holdings Limited
Capital Change Notice





Section 1: Issuer information
Name of issuer Skellerup Holdings Limited
NZX ticker code SKL
Class of financial product Unquoted share options (Options),
convertible to Skellerup Holdings
Limited ordinary shares pursuant to
Skellerup’s Share Option Plan.
ISIN (If unknown, check on NZX website) N/A
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 1,800,000
Nominal value (if any) Nil
Issue/acquisition/redemption price per security Nil
Nature of the payment (for example, cash or other
consideration)
No consideration is payable for the
Options.
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)
The Options comprise 100% of the
financial products of that class.
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 exercise price for the Options is
$5.17 per Option (Exercise Price),
being the volume weighted average
price of the Company’s shares on the
NZX Main Board for the twenty-trading
day period beginning on 30
September 2022.
Subject to their continued employment
by Skellerup, option holders will be
able to exercise the Options in the
period beginning on 1 September
2024 and ending on 1 November
2024.Upon exercise, option holders
will be issued one ordinary share in
Skellerup per Option exercised.
Alternatively, on exercise, option
holders have the opportunity to direct
Skellerup to facilitate a net settled
exercise by issuing to the option
holder, such number of shares as is
equal to the difference between the
market value per share of Skellerup’s
ordinary shares and the Exercise
Price, multiplied by the number of
Options being exercised, divided by

the market value per share of
Skellerup’s ordinary shares.
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason
for change must be identified here)
Issue of 1,800,000 Options under
Skellerup’s Share Option Plan to:
• David Mair (CEO) 1,000,000 share
options; and
• Graham Leaming (CFO) 800,000
share options,
pursuant to a directors’ resolution
dated 01 November 2022.
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.
1,800,000 Options
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 01
November 2022 and NZX Listing Rule
4.6.1.
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
Options do not entitle the holder to
receive dividends or other distributions
or vote in respect of Skellerup’s
ordinary shares.
Holders of Options cannot transfer or
grant security interests over them.
Date of issue/acquisition/redemption 01 November 2022
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Graham Leaming
Contact person for this announcement Graham Leaming
Contact phone number 021 271 9206
Contact email address Graham.leaming@skellerupgroup.com
Date of release through MAP

02 November 2022