Sunday, 16 December 2018


GENERAL: CEN: Financial Assistance under Employee Share Ownership Plan

26 Oct 2017 09:56NZX
26 October 2017

Provision of Financial Assistance under Employee Share Ownership Plan

In accordance with section 80 of the Companies Act 1993, Contact Energy
Limited (Contact) is required to make the following disclosure in respect of
financial assistance provided by Contact for the recent allocation to Contact
employees under Contact''s employee share ownership plan (Contact Share).

Contact established Contact Share by a trust deed dated 12 September 2013 to
enable employees to acquire ordinary shares in Contact.  Contact Share has
been approved by Inland Revenue as a share purchase scheme for the purposes
of the Income Tax Act 2007.  Under Contact Share, Contact Energy Trustee
Company Limited (Trustee) purchases $1,000 of shares per participating
employee on-market.  Employees contribute $0.01 per share towards the cost of
the shares.

Under the trust deed, Contact has agreed to meet all of the Trustee''s costs
associated with Contact Share. The payment of such costs to the trustee
constitutes the giving of financial assistance for the purpose of, or in
connection with, the purchase of shares issued by the Company under section
76 of the Companies Act 1993.

The details of the financial assistance provided by Contact are as follows:

Shares in respect of which the financial assistance was provided: 105,471
ordinary shares in Contact (Shares).

Consideration paid for the Shares: $5.5092 per Share.

Recipients of the financial assistance: Employees of Contact who applied to
acquire Shares under Contact Share.  The Shares are held by the Trustee for
the participants for a restricted period of 3 years.

Nature of financial assistance: The financial assistance was given in the
form of a payment of (a) $582,513.48 (including brokerage) to purchase the
Shares and (b) approximately $5,000 to cover the costs of operating Contact
Share (pursuant to the trust deed).

Kirsten Clayton
Company Secretary
End CA:00309252 For:CEN    Type:GENERAL    Time:2017-10-26 09:56:23
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