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BR Prd 15/01
04 Feb 2015
4 February 2015 to 31 December 2018

Chorus Limited

Chorus Limited

The Arrangement is the establishment of a long-term incentive plan for senior executives of Chorus New Zealand Limited. Under the plan, amounts will be lent to the executives to enable them to acquire shares in Chorus Limited. The shares will be held on trust during a restrictive period, and will vest at the end of the restrictive period subject to certain performance criteria being satisfied. This ruling sets out the taxation consequences for the senior executives.