Performance Share Rights – Capital Change Notice

2 October 2023

Comvita Performance Share Rights lapse



Comvita Limited today announces the lapse of 22,002 Performance Share Rights on 29 September
2023, which were issued on 30 September 2022 and 8 October 2021. There are 849,937 remaining
Performance Share Rights on issue.
Nigel Greenwood
CFO

Ends.

For further information contact:
Kelly Bennett, One Plus One Communications
Mobile: +64 21 380 035
Email: kelly.bennett@oneplusonegroup.co.nz

Background information
Comvita (NZX:CVT) was founded in 1974, with a purpose to heal and protect the world through the natural
power of the hive. With a team of 500+ people globally, united with more than 1.6 billion bees, we are the
global market leader in Mānuka honey and bee consumer goods. Seeking to understand, but never to alter,
we test and verify all our bee-product ingredients are of the highest quality in our own government-
recognised and accredited laboratory. We are growing industry scientific knowledge on bee welfare, Mānuka
trees and the many benefits of Mānuka honey and propolis. We have pledged to be carbon neutral by 2025
and carbon positive by 2030, and we are planting more than two million native trees every year. Comvita
has operations in Australia, China, North America, South East Asia, and Europe – and of course, Aotearoa
New Zealand, where our bees are thriving.

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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 (“Scheme”). This notice is given under the
NZX Listing Rules 3.13.1 and 3.15.2 and relates to the conversion of performance share
rights (“PSR’s” into fully paid ordinary shares in CVT upon certain vesting conditions being
met under the Scheme.

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 New Zealand Dollars
Section 2: Capital change details

Number issued/acquired/redeemed 314,706 ordinary shares
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

0.4503% of all Ordinary Shares
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 of Ordinary Shares arising
from conversion of PSR’s issued to
Company Executives under the
Scheme to incentivise executives.
This issue represents one-third of
each participant’s entitlement under
the Scheme for the financial years
ended 30 June 2020, 2021, 2022,
and 2023, following vesting
conditions being met (with the
PSRs to vest in future years

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

subject to vesting conditions being
met).

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.
535,231 total PSR’s
70,208,452 ordinary shares
176,509 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
29 September 2023
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 2 October 2023