Capital Change Notice – performance rights

Capital Change Notice


Notice of issue of performance rights under Heartland’s performance rights plan
This notice is given under the NZX Listing Rule 3.13.1 and relates to the issuance of
performance rights (Performance Rights) to certain eligible employees of Heartland Group
Holdings Limited (Heartland) pursuant to Heartland’s performance rights plan (PR Plan) in
respect of the 2022 financial year (PR Plan 2022 Tranche).

Pursuant to the PR Plan 2022 Tranche, subject (except in limited circumstances) to the
holder remaining employed by Heartland, or one of its subsidiaries, until 30 June 2024 or in
the case of two of the participants until 30 June 2025, and the extent of achievement of
certain financial measures, strategic objectives and culture & conduct objectives by
Heartland over the period between 1 July 2021 and 30 June 2024, or 30 June 2025 as the
case may be, holders will be entitled to receive one fully paid ordinary share in Heartland for
each performance right held by them. The targets are dynamic and may be adjusted by the
Board of Heartland from time to time where necessary in order to maintain financial
soundness and consistency with the spirit and intent of the PR Plan.

Section 1: Issuer information
Name of issuer Heartland Group Holdings Limited
NZX ticker code HGH
Class of financial product Performance rights which give the
holder options to acquire Heartland
Ordinary Shares pursuant to the
PR Plan
ISIN (If unknown, check on NZX website) Not applicable
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 2,454,395 performance rights
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security Nil
Nature of the payment (for example, cash or other
consideration)
No consideration is payable for the
issue of the performance rights
Amount paid up (if not in full) Not applicable.
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury
Stock, in existence)
1

100% of the total number of
Performance Rights issued
pursuant to the PR Plan 2022
Tranche

For an issue of Convertible Financial Products or Options,
the principal terms of Conversion (for example the
Conversion price and Conversion date and the ranking of
the Financial Product in relation to other Classes of
As described above.

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

Financial Product) or the Option (for example, the exercise
price and exercise date)
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason for
change must be identified here)
Issue of performance rights
pursuant to Heartland PR Plan as
authorised by resolution of
directors dated 30 September
2021
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding
Treasury Stock) and the total number of Financial
Products of the Class held as Treasury Stock after the
issue/acquisition/redemption.
2,454,395 Performance Rights

No Treasury Stock held
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock
No
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the
issue, acquisition, or redemption is made
Directors resolution dated 30
September 2021 and NZX Listing
Rules 4.6.1
Terms or details of the issue, acquisition, or redemption
(for example: restrictions, escrow arrangements)
As noted above.
Date of issue/acquisition/redemption
2
29/10/2021
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Michael Drumm, Chief Risk Officer
Contact person for this announcement Michael Drumm, Chief Risk Officer
Contact phone number 09 927 9136
Contact email address Michael.Drumm@Heartland.co.nz
Date of release through MAP

01/11/2021




2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).