Financial assistance for the purchase of shares

Introduction
Under section 80(1)(b) of the Companies Act 1993, Port of Tauranga Limited (the “Company”) is required to provide NZX Limited with the following notice in respect of the financial assistance provided to certain eligible employees (the “Participating Employees”) in connection with the Employee Share Purchase Scheme of Port of Tauranga Limited (the “Scheme”). This document is provided for information only and no action is required.

Employee Share Purchase Scheme
The Company established the Scheme pursuant to (i) the scheme deed originally dated 21 September 1989, as amended and restated on 26 January 2022 and otherwise as amended, restated and/or supplemented from time to time (the “Scheme Deed”); and (ii) the rules which are applicable to the Scheme. The Scheme was established to enable eligible employees to acquire fully paid ordinary shares in the Company (the “Shares”).

The Scheme involves the Company making loans to certain Participating Employees to fund the acquisition of the Shares by Port of Tauranga Trustee Company Limited in its capacity as trustee (the “Trustee”) under the Scheme Deed for and on behalf of such Participating Employees. Those loans are provided on an interest-free basis and are for a term of a minimum of three years and up to a maximum of five years. The loans will be repaid by the Participating Employees in regular instalments over the term of the loan by way of deduction from each after tax payment from their salary or wages.

Disclosure
The following financial assistance was provided by the Company in connection with the Scheme on 17 September 2024.

1 Financial assistance was provided in respect of a total of 47,860 number of shares (“Relevant Shares”).
2 A total of $267,915 was paid by the Trustee as consideration for the issue of the Relevant Shares. These shares were then allocated to employees at a 10% discount.
3 The financial assistance was provided for the benefit of the persons listed in the appendix appended to this notice.
4 The nature of the financial assistance was interest-free loans of $241,123 with a minimum term of three years. The loans will be repaid by the Participating Employees in regular instalments over the term of the loan by way of deduction from each after tax payment from their salary or wages.
5 The Scheme was open to eligible members of the Company’s subsidiary, Quality Marshalling (Mount Maunganui) Limited.

For further information please contact:

Simon Kebbell
Chief Financial Officer
Phone 027 482 7510

Attachment (to view list, please click on pdf which contains this notice and the list)
Appendix 1: List of participating employees from Quality Marshalling in POTL’s ESOP (effective 17 September 2024)

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Announcement PDF