Thursday 30th November 2023
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In accordance with section 80 of the Company Act 1993, Auckland International Airport Limited (Auckland Airport) is required to make the following disclosure in respect of financial assistance provided by Auckland Airport for the recent allocation to Auckland Airport employees under Auckland Airport’s employee share scheme plan (ESS Plan).
Auckland Airport established the ESS Plan by a trust deed dated 19 November 1999 (as amended by a deed of amendment and restatement of the trust deed dated 31 October 2019), to enable employees to acquire ordinary shares in Auckland Airport. Under the ESS Plan, permanent full time and part time employees of Auckland Airport receive an interest free loan to fund the acquisition of Shares in the Auckland Airport, the shares are acquired on behalf of Auckland Airport employees by the ESS Plan Trustees and are held on trust by the Trustee for a three year period. This financial assistance has been provided pursuant to section 80 of the Companies Act 1993.
Details of Financial Assistance
The details of the financial assistance provided by Auckland Airport are as follows:
Shares in respect of which the financial assistance was provided: 134,300 ordinary shares in Auckland Airport (Shares)
Consideration paid for the Shares: $6.1911 per Share
Recipients of the financial assistance: Employees of Auckland Airport who applied to acquire Shares under the ESS Plan. The Shares are held by the Trustee for the participants for a restricted period of 3 years.
Nature of financial assistance: The financial assistance was given in the form of interest free loans to employees participating in the ESS Plan to fund the purchase of the Shares, repayable over a three-year period under the terms of the ESS Plan. The total amount of the loans made was $831,464.73.
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