Xero Limited (XRO) / Announcements

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Notice of issue of options pursuant to 7.12.1

10:46am, 31 Jan 2012 | ALLOT

31 January 2012
Market Information Services Section
New Zealand Exchange Limited
Wellington

NOTIFICATION OF ALLOTMENT OF SECURITIES

For the purposes of Listing Rule 7.12.1 of the NZSX Listing Rules, Xero Limited advises the following options have been issued:

Class of securities issued Options over Ordinary Shares
ISIN NZXROE0001S2

Number of securities issued 200,000 options to acquire ordinary shares
Issue price Nil. The options have an exercise of $2.75 per share.
Payment in cash? N/A
Any amount paid up (if not in full) N/A
Percentage of total class issued if exercised 100% of options to acquire ordinary shares. If exercised and converted into shares, 0.22% of Xero Limited ordinary shares.
Reasons for the issue Issue of options for the purposes of a Xero Limited US Employee Option Scheme as part of the remuneration package of an employee
Specific authority for the issue Resolution of directors dated 24 January 2012
Terms or details of the issue Issue of 200,000 options over Ordinary Shares, 40,000 options are exercisable from each of the five anniversaries of the grant date subject to continued employment and meeting the exercise price (other than in exceptional circumstances). Lapse dates exist.
Total number of securities of the class in existence after the issue if exercised 200,000 options over ordinary shares
Date of issue 25 January 2012


Linda Cox
Company Secretary