TradeWindow Issues Share Options To Independent Directors
Auckland, NZ. TradeWindow (NZX: TWL) is issuing 1,237,238 options (Options) to senior managers and other eligible staff of TradeWindow under the Company’s Employee Share Option Plan (ESOP). Each Option will, upon vesting and exercise of the Option, entitle the holder to one ordinary share in the Company. The Options will be issued on 12 September 2022, with an effective date of 31 July 2022 (Effective Date) and will vest on 01 July 2025 (Vesting Date) with a nil exercise price as set out in the ESOP rules. Options for senior managers who receive the options as part of the Company’s Long Term Incentive plan (LTI) are subject to a hurdle rate of 17.5% per annum growth in the share price. The issue price for the Options is $0.74 per share (being the share price at the Effective Date). Following the issue of the Options the total number of shares, live options, deferred share rights is:
Ordinary Shares: 100,804,700
Copies of the ESOP Rules are available on the Company’s website.