Capital Change Notice – Issue of Performance Share Rights

Capital Change Notice
Updated as at 17 October 2019


Section 1: Issuer information
Name of issuer EROAD Limited
NZX ticker code ERD
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZERDE0001S5
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed
290,672
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security Nil
Nature of the payment (for example, cash or other
consideration)
Upon the vesting of
performance share rights
(PSRs) under the FY23 grant of
EROAD Limited’s (EROAD)
Performance Share Right Plan
(FY23 Grant), on 31 March
2023, each holder is entitled to
one ordinary share in EROAD
for no cash payment, subject to
adjustment in accordance with
the plan rules and the
performance hurdles. Further
details of the FY23 Grant will
be included within EROAD’s
annual report.
Amount paid up (if not in full) Fully paid ordinary shares
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

0.26%
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)
Vesting of 290,672 PSRs in the
FY23 Grant.
Board approved on 27 July
2022 and 13 October 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
112,919,084
ordinary shares. No Treasury
Stock held.



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

Class held as Treasury Stock after the
issue/acquisition/redemption.
176,979 PSRs in the FY23
Grant lapsed as a result of the
vesting conditions not having
been met. 81,949 PSRs of the
same Class from the FY20
Grant remain on issue.
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’ resolutions dated 27
July 2022 and 13 October 2022
pursuant to NZX Listing Rule
4.6.1 and 4.9.1(b).
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
The shares issued are quoted
ordinary shares ranking equally
with the existing EROAD
ordinary shares on issue.
Date of issue/acquisition/redemption
6 April 2023
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement Eleanor Koningham
Contact person for this announcement Eleanor Koningham
Contact phone number 021 02761650
Contact email address Eleanor.koningham@eroad.com
Date of release through MAP
6 April 2023