Performance Share Rights – Capital Change Notice

Capital Change Notice





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 NZD
Section 2: Capital change details
Number issued/acquired/redeemed 8,662
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

0.0123%
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 to Company Executives
under the Comvita Limited
Performance Share Rights
Scheme
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.
70,217,114 ordinary shares
167,847 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
30 October 2023

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

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

30 October 2023

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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 This notice is given under the NZX Listing Rules 3.13.1 and
relates to the issuance of performance share rights which are convertible into fully paid ordinary
shares in CVT should certain vesting conditions and performance hurdles be met under CVT’s
Performance Share Rights Scheme.

Section 1: Issuer information
Name of issuer Comvita Limited
NZX ticker code CVT
Class of financial product Performance Share Rights, each
representing an entitlement to acquire
an ordinary share in CVT (“PSR’s”)
ISIN (If unknown, check on NZX website) NZCVTE0001S7
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 372,490 PSR’s
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security PSR’s issued under the Scheme for
nil consideration
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

41.04% of PSR’s on issue, giving
rights in respect of ordinary shares
equal to 0.5305% of the total ordinary
shares on issue (post issue)
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 PSR’s are subject to a vesting
period of 3 years. Vesting is subject to
performance targets being met at the
end of the financial years ended 30
June 2023 and 30 June 2024,
continued employment and occurs in
tranches (annually). Upon vesting of
the PSR’s, shares will be transferred
from treasury stock or new shares will
be issued in the capital of the
Company on the terms and conditions
described in the Comvita Limited
Performance Share Rights Scheme.
The shares will be transferred or
issued (as applicable) for no
consideration and will be credited as
fully paid up. One PSR will convert
into one ordinary share upon vesting
and will rank equally with all other
ordinary shares on issue.

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

PSRs do not entitle the holder to
receive dividends or other
distributions, or vote in respect of
CVT ordinary shares. Holders of
PSRs cannot transfer or grant
security interests over them.
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason
for change must be identified here)
Offer to Company Executives under
the Comvita Limited Performance
Share Rights Scheme to incentivise
executives.
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.
907,721 total PSR’s
70,217,114 ordinary shares
167,847 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
30 October 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

30 October 2023