Agreement with IRD and Update on Restructure

7 March 2017

BY E-MAIL: announce@nzx.com

NZX Limited
Wellington

Agreement with Inland Revenue Department and Update on the Capital and Operational Restructure
of NZF
GST Issue
The Company has previously advised that:

 the Inland Revenue Department was reviewing the Company’s GST returns for the period 1
April 2013 onwards in relation to the Company’s ability to claim GST on expenses incurred;
and

 it was likely that the Company would have to repay previously claimed GST.

Agreement has now been reached with IRD to repay the IRD an amount of $187,027 in aggregate.
The sum is to be paid by twenty-four monthly instalments of $7,793. The first instalment is due and
payable on 20 March 2017.

Capital and Operational Restructure
Further to our announcement on 15 November 2016 advising that NZF had entered into a
conditional Implementation Deed with Blackwell Global Group Limited (“Blackwell”), the Company
advises that:

 the drafting of the Notice of Meeting, the Explanatory Memorandum and the Independent
Advisers Report and Appraisal Report are well advanced;

 it is hoped to have the aforementioned documentation forwarded to the NZX and to the
Takeovers Panel for their review during the course of the next week;

 it is anticipated that a special meeting of shareholders will be called to approve the capital
and operational restructure during the course of April or May.

For any inquiries please contact:
Sean Joyce Chairman of NZF
Email: sean@corporate-counsel.co.nz
Mobile: 021 865 704