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Serko Limited — Director's Dealing 2020
Feb 2, 2020
66271_rns_2020-02-03_52e06b9b-5ff1-4623-b193-70d0946cd8b4.pdf
Director's Dealing
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Market Release
3 February 2020
REPAYMENT OF INDEPENDENT DIRECTOR SHARE LOAN FACILITY AND ASSOCIATED SHARE SALE
As previously disclosed to the market, in 2014 Serko Limited (NZX/ASX:SKO) introduced a loan facility to enable independent directors to acquire a specified number of shares in Serko at the time of Serko’s initial public offering (Director Share Loan).
The Director Share Loan is due for repayment in June 2020, or earlier at the discretion of each independent director.
As the Director Share Loan facility nears expiry, Ms Batten and Mr McConaghy have each indicated they wish to sell-down a portion of their current holding of SKO shares (each retaining over 50% of their current holding). The proceeds are in large part to be used to repay their Director Share Loan (fully discharging their obligations under their respective loan agreement with the Company) and settle associated tax obligations.
Disclosure notices will be filed on the NZX and ASX by Ms Batten and Mr McConaghy if and when their respective share sale takes place, providing further information in relation to each anticipated sale.
For and on behalf of Serko Limited
Susan Putt Chief Financial Officer
Ends
For investor relations queries please contact: Susan Putt Chief Financial Officer Serko +64 9 309 4754 or +64 21 388 009 [email protected]
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Serko Limited, Saatchi Building, Unit 14D 125 The Strand, Parnell, Auckland, New Zealand PO Box 47-638, Ponsonby, T: +64 9 309 4754, F: +64 9 377 0545, [email protected] Incorporated in New Zealand ARBN 611 613 980