CVC LIMITED Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Announcement Summary
For personal use only
Entity name
CVC LIMITED
Date of this announcement
Thursday December 16, 2021
The +securities the subject of this notification are:
+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends
Total number of +securities to be issued/transferred
Total number of | |||
ASX +security | +securities to be | ||
code | Security description | issued/transferred | Issue date |
New class - code | Performance Rights | 3,500,000 | 10/12/2021 |
to be confirmed |
Refer to next page for full details of the announcement
Notification of Issue, Conversion or Payment up of Unquoted | 1 / 7 |
Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Part 1 - Entity and announcement details
For personal use only
1.1 Name of entity
CVC LIMITED
We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.
1.2 | Registered number type | Registration number |
ABN | 34002700361 | |
1.3 | ASX issuer code | |
CVC |
- The announcement is New announcement
- Date of this announcement
16/12/2021
Notification of Issue, Conversion or Payment up of Unquoted | 2 / 7 |
Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Part 2 - Issue details
For personal use only
2.1 The +securities the subject of this notification are:
+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends
2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:
does not have an existing ASX security code ("new class")
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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B
use only
New +securities issued under an +employee incentive scheme
ASX +security code | +Security description | |
New class - code to be confirmed | Performance Rights | |
+Security type | ISIN code | |
Other |
Date the +securities the subject of this notification were issued
10/12/2021
Will all the +securities issued in this class rank equally in all respects from their issue date? Yes
Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes
Provide details of the KMP or +associates being issued +securities.
personal
Name of KMP
Mark Avery
Craig Treasure
Name of registered holder | Number of +securities |
1,700,000 | |
Mark Avery as trustee for the Avery | |
Investment Trust | |
1,300,000 | |
Craig G Treasure Pty Limited as | |
trustee for the C & D Treasure Family | |
Trust | |
For
John Hunter | Virtual Sales Pty Limited as trustee for 500,000 |
the Hunter Family Trust | |
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.
Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms
The Performance Rights will vest subject to an absolute Total Shareholder Return (TSR) hurdle over the performance period of 10 December 2021 to 9 December 2025 calculated as follows:
TSR = (Change in Share Price + Dividends) / Share price on the Grant Date
The share price at grant date, being 10 December 2021, of $2.30.
Notification of Issue, Conversion or Payment up of Unquoted | 4 / 7 |
only
Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
The percentage of the Performance Rights that vest, if any, will be determined by the Board of Directors with reference to the following:
Average TSR up to 12.5% - Nil Performance Rights vest
Average TSR of 12.5% to 15% - 25% of the Performance Rights vest
Average TSR of 15% to 17.5% - 50% of the Performance Rights vest
Average TSR of 17.5% to 20% - 75% of the Performance Rights vest
Average TSR of greater than 20% - 100% of the Performance Rights vest
Any other information the entity wishes to provide about the +securities the subject of this notification
Issue details
For personal use
Number of +securities
3,500,000
Notification of Issue, Conversion or Payment up of Unquoted | 5 / 7 |
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Disclaimer
CVC Limited published this content on 15 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2021 22:08:12 UTC.
