MCMILLAN SHAKESPEARE LIMITED 
By ASX ANNOUNCEMENT
Sale of Options Issued Pursuant to Employee Incentive Plan
McMillan Shakespeare Limited (the 'Company') advises that
Michael Kay, Managing Director and Chief Executive Officer,
and a number of other members of the senior executive team of
the Company (The Team) have disposed of 2,281,798 vested
options held in McMillan Shakespeare Limited. These options,
which were issued pursuant to an employee share option plan
issued by the Company, were subsequently exercised by the
purchaser of the options. As a result 2,281,798 shares were
issued to the purchaser, which represents 3.2% of the total
shares currently on issue in the Company. The
2,281,798 shares have been on sold to a range of
institutions. A further 1,440,787 options have been
transferred to associates of Mr Kay.
The market capitalisation of the Company at the time of the
option issue to Mr Kay was approximately $166 million and for
the other executives ranged between $129 million and $220
million compared to yesterday's market capitalisation of $694
million. Mr Kay's exercise price was set at a 91% premium to
the Company's share price at the time of the issue and, for
the other executives, the premium ranged between 45% and
146%.
Details of achievement of the predetermined targets giving
rise to the vesting of these options have been previously
released to the market on 24 November 2011 and in the
Company's Annual Report. The Board continues to believe that
the use of options is the most appropriate form of
performance incentive to reinforce alignment with shareholder
interests, and to encourage long term performance and
retention of key executives. As previously announced, Mr Kay
(following approval by the shareholders of the Company at the
2011 Annual General Meeting of the Company) and members of
the senior executive team have been granted further options
pursuant to a long term incentive plan, subject to meeting
relevant performance targets set by the Board.
For more information please contact:
Mark Blackburn
CFO and Company Secretary McMillan Shakespeare Limited Telephone: +61 3 9097 3273
E-mail: mark.blackburn@mmsg.com.au
McMillan Shakespeare Limited A.B.N. 74 107 233 983 AFSL No. 299054
Level 21, 360 Elizabeth Street, Melbourne, Victoria 3000
Tel: +61 3 9097 3273 Fax: +61 3 9097 3060 Web: www.mmsg.com.au
About McMillan Shakespeare
McMillan Shakespeare is considered a market leader in the provision of remuneration programs. Its services include remuneration policy design, salary packaging benefit administration and motor vehicle lease management backed by expertise in FBT management, tax and compliance. McMillan Shakespeare also provides a complementary fleet management service, including the procurement of motor vehicles and finance and the management of fuel card and service maintenance
programs.
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