Financial Assistance for the Purchase of Shares

NOTICE OF PROVISION OF FINANCIAL ASSISTANCE

Introduction

Under section 80(1)(b) of the Companies Act 1993, Freightways Group Limited ("Company") is required to provide NZX Limited with the following notice in respect of the financial assistance provided to certain employees in connection with the Company's Employee Share Plan ("Plan"). This notice is for information only and no action is required.

Employee share plan

The Company established the Plan by a trust deed dated 30 June 2005 to enable employees to acquire fully paid ordinary shares in the Company ("Shares").

The Plan involves the Company making loans to employees to fund the acquisition of Shares, issued by the Company to Freightways Trustee Company Limited ("Trustee"), as trustee of the Plan, on behalf of participating employees. Those loans are provided on an interest-free basis and are for a term of three years. The loans will be repaid by employees in regular instalments over this three year term by way of a deduction from their salary or wages.

Disclosure

The following financial assistance was provided by the Company in connection with the Plan on 1 December 2023:
1. The financial assistance was provided in respect of a total of 90,000 Shares ("Relevant Shares").
2. A total of $616,500 was paid by the Trustee as consideration for the issue of the Relevant Shares.
3. The nature of the financial assistance was interest-free loans with a term of three years. The amount of those loans was $616,500 in total.
4. The financial assistance was provided for the benefit of the persons listed in Part A of the schedule appended to this notice ("Participants"). Through a series of inter-company loans, the Company provided financial assistance to Freightways Express Limited, which provided financial assistance to the Trustee, which provided financial assistance to the subsidiaries of the Company listed in Part B of the schedule appended to this notice ("Subsidiaries"). Each Subsidiary then provided financial assistance to the Participants employed by that Subsidiary.

ENDS

For further information please contact
Stephan Deschamps
Chief Financial Officer
+64 9 571 9669 

SCHEDULE

Part A: Participants

Refer list of Participants attached

Part B: Subsidiaries

Subsidiaries that received loans in connection with the Plan are:

• Air Freight NZ Limited
• Big Chill Distribution Limited
• Fieldair Engineering Limited
• Fieldair Holdings Limited
• Freightways Express Limited
• Freightways Information Services Limited
• Messenger Services Limited
• New Zealand Couriers Limited
• New Zealand Document Exchange Limited
• Parceline Express Limited
• Post Haste Limited
• The Information Management Group (NZ) Limited

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Announcement PDF