Pursuant to Listing Rule 7.12.1, AWF Group Limited (NZX:AWF) advises that the following securities issued by AWF under the AWF Group Restricted Share Scheme (“Scheme”) have been redeemed.
(a) Class of security: Restricted B Shares. ISIN not applicable as securities not quoted.
(b) Number redeemed: 109,200 Restricted B Shares.
(c) Redemption price: $2.50 per share.
(d) Payment terms: Cash.
(e) Amount paid up: Fully paid.
(f) Principal terms of the securities: The Restricted A Shares and Restricted B Shares are restricted and are unable to be traded until reclassified as ordinary shares on the relevant “Qualification Date” (subject to the holder remaining employed with AWF and the repayment of any loans made by the holder to AWF in respect of the shares).
(g) Percentage of total class redeemed: 100% Restricted B Shares.
(h) Reason for redemption: The holders of the109,200 Restricted B Shares have by their actions elected not to exercise the option to repay the Company Loan, (or have advised the Company that they do not intend to exercise the option) on the relevant “Qualification Date” being 1 June 2016; and having not repaid the Company Loans on the “Qualification Date”, did not qualify for reclassification as ordinary shares. Accordingly, the Restricted B Shares are being redeemed by AWF under the rules of the Scheme and cancelled.
(i) Authority for redemption: Directors’ resolution dated 2 June 2016.
(j) Terms of redemption: The aggregate redemption price is to be applied by AWF in full repayment of the loans made by AWF to the relevant holder in respect of their Restricted B Shares.
(k) Total number of securities of the class in existence after redemption: 109,200 Restricted B Shares.
(l) Shares to be held as treasury stock: No.
(m) Date of redemption: 2 June 2016.
Contact: David Lazarus, Company Secretary on +64 9 526 8775.