In accordance with NZX Listing Rule 7.12.1, Gentrack Group Limited (NZX/ASX: GTK)
(Gentrack) advises that it has issued 78,040 Performance Rights (PRs) to senior
executives for nil consideration under the Gentrack Long Term Incentive Scheme (LTI
Each PR issued for this award under the LTI Scheme gives the right to receive one
ordinary share in Gentrack, subject to the holder remaining employed by Gentrack until
the end of the vesting period and achievement of the Performance Hurdle.
The vesting period for this award is from 1 October 2017 until the date the financial
results for the year to 30 September 2020 are released.
The Performance Hurdle is that 50% of the PRs will vest if the Compound Annual Growth
Rate (CAGR) in Earnings Per Share (EPS) of Gentrack over the 3 financial years of the
measurement period is 7%. The number of PRs that vest increases linearly to 100% if
EPS CAGR is 12%. The Performance Hurdle will be measured over the three years
ending on 30 September 2020.
The Performance Hurdle for vesting of PRs granted in the future will be set by the Board
at the time they are granted.
In connection with the issue, Gentrack advises the following details: