Shareholder schemes and forms

How to transfer your shares and participant code to a related party and how to trade your fully paid Ordinary Shares.

LIC Voluntary Investment Scheme (fixed trading plan)

Due to changes to the exemptions afforded to “specified securities investment schemes” under the Anti-Money Laundering and Countering Financing of Terrorism Act, LIC’s Voluntary Investment Scheme (VIS) has been redesigned to be a fixed trading plan for eligible farmer elected directors and eligible senior managers who wish to make voluntary share purchases over a fixed period of time but who may be prevented from acquiring shares by New Zealand’s insider trading restrictions as a result of their position with LIC. Other shareholders are free to invest in LIC shares in compliance with the LIC constitution and the relevant laws.

The rules of the VIS, and the necessary waiver from the NZX Listing Rules that enable the VIS to operate under the NZX Listing Rules can be found here:

VIS Rules

NZX Waiver

Transferring shares to a related party

You can transfer your Fully Paid Ordinary Shares, together with your LIC participant code, to a related party. A related party is a person or an entity you have a relationship with. Related parties include family members. They can also include trusts, companies and partnerships.

If you are holding Nil Paid Ordinary Shares, you will need to pay them up fully before you can transfer them to a related party or obtain Board approval to allow such transfers. 

Use the Related Parties Transfer Form to initiate the transfer.  

Related Parties Transfer Form

Changing the form of your farming entity

If you change the form of your farming entity, you can transfer your fully paid Ordinary Shares and participant code to the new entity. To transfer your nil paid Shares, you will need to either pay them up fully before you transfer them or obtain Board approval to allow the transfer.

Use the Related Parties Transfer Form to initiate the transfer.  

Related Parties Transfer Form

Use your dividends to buy Ordinary Shares

Dividend reinvestment plan (DRP)

The DRP is an easy way for shareholders to increase their shareholding in LIC Ordinary Shares without incurring any additional costs.  All administration and brokerage fees are paid by LIC. Eligible Persons must ensure their own compliance with relevant laws, including inside trading law.

What to do:

  1. Read the DRP Offer Document
  2. Complete the DRP participation form
  3. To be part of the DRP for the 2020-21 season return the completed DRP participation form to Link Market Services by Monday 10 August 2020
  4. Forms received after the above date will become part of the DRP the for the 2021-22 season

Dividend reinvestment plan offer

Dividend reinvestment plan participation

Trading LIC Ordinary Shares 

You can trade fully paid Ordinary Shares with other qualifying shareholders in two ways:

  • through a broker
  • through a private off-market transfer.       

Use the Ordinary Share Transfer Form to transfer shares privately to another qualifying shareholder. 

Note: If you are holding nil paid Ordinary Shares, you will need to pay them up fully before you can trade them with other qualifying shareholders.

Ordinary Share Transfer Form

More information

Email our Share Registry Team at or call 0800 542 742 for more information about your LIC shares.