Comvita Leadership Team take up 738,012 shares

Leader Share & Loan Purchase Plan

As announced on 25 March 2021, Comvita Limited (CVT) has established a Leader Share Purchase & Loan scheme to retain key employees and materially align the interests of participants with those of shareholders, by making loans available to eligible employees for the acquisition of fully paid ordinary shares in Comvita ("Shares"). The terms of the scheme are as summarised in the 25 March announcement.

Comvita has now issued a total of 368,012 new ordinary shares and transferred a total of 370,000 ordinary shares from treasury stock to members of its Senior Leadership Team. The market value of the shares was calculated using the five-day volume weighted average share price (VWAP) at which Comvita’s shares traded on the NZX Main Board Market prior to 25 March 2021 (being the date the Leaders Share Purchase and Loan Scheme was offered and accepted by the participants). The required disclosure in accordance with Listing Rule 3.13 accompanies this announcement.

Financial Assistance
Under section 80(1)(b) of the Companies Act 1993, Comvita is required to provide NZX Limited with the following notice in respect of the financial assistance provided to certain employees. This notice is for information only and no action is required.

In accordance with section 80(1)(b) of the Companies Act 1993, Comvita makes the following disclosure with respect to the financial assistance provided:
Class and Number of Shares which Financial Assistance relates to: 738,012 Ordinary CVT Shares
Consideration in respect of which Financial Assistance is provided: $3.10 per share
Identity of persons receiving the Financial Assistance
- Adrian Barr
- Andy Chen
- Corey Blick
- David Banfield
- Holly Brown
- Jackie Evans
- Nigel Greenwood
- Tracy Brown

Nature and Amount of Financial Assistance
- Four-year, interest bearing loan totaling NZ$2,287,842 in aggregate
- The term of the loans will be four years, intended to tie to the Comvita Five Year Plan
- The loan is offered under full recourse conditions and is interest-bearing
- Any dividends payable will be applied and offset against the loan balance

Date Assistance was provided: 21 May 2021

ENDS

Brett Hewlett
Chair

David Banfield
Group CEO

For further information contact:
Kelly Bennett, One Plus One Communications
Mobile: +64 21 380 035
Email: [email protected]


Background information
About Comvita (www.comvita.co.nz) Comvita (NZX:CVT) was founded in 1974 and is the pioneer and global market leader of the Mānuka honey category. Comvita is committed to the long-term development of Mānuka and Bee products backed by unrivalled scientific knowhow. Comvita recently announced its sponsorship of the NZ pavilion at the World Expo in Dubai focusing on Kaitiakitanga (guardianship and protection of the planet).

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Announcement PDF