REDEMPTION AND CONVERSION OF RESTRICTED SHARE RIGHTS
SECISSUE
Wed, Sep 07 2022 04:24 pm
7 September 2022
Redemption and Conversion of Restricted Share Rights
This notice is given under NZX Listing Rules 3.13.1 and 3.15.2 and relates to the 416,587 ‘Tranche One’ restricted share rights (Tranche One Restricted Share Rights) in SkyCity Entertainment Group Limited (SKC) issued on 7 September 2021 to participating SkyCity employees under the SkyCity Performance Incentive Plan in respect of the financial year ended 30 June 2021 (2021 PIP).
Each Tranche One Restricted Share Right confers a right to receive one ordinary share in SKC, which, unless otherwise agreed by the Board of SKC, will only vest if the relevant employee remains continuously employed by SKC (or a company within the SkyCity Group) from the date of issue until the vesting date on 7 September 2022.
On 7 September 2022, 34,644 Tranche One Restricted Share Rights lapsed and were redeemed by SKC and 381,943 Tranche One Restricted Share Rights vested to eligible participants.
404,815 ‘Tranche Two’ restricted share rights (Tranche Two Restricted Share Rights) in SKC issued on 7 September 2021 to participating SkyCity employees under the 2021 PIP remain on issue.
Authorised by
Jo Wong
Company Secretary
Announcement PDF
Markets News
Finance
Account-checking technology poised for wider rollout
Confirmation of Payee technology used in 60 million-plus transactions in first year.
Markets
Mainfreight reports first-half margin squeeze
Ocean freight rates and trans-Pacific trade volumes are under pressure.
Opinion
Peter Griffin: London’s AI reality check
Debate continues to rage about the extent to which we are in an AI bubble.
