Rubicon notes Tenon Granted Final High Court Orders

To: NZX From: Pam Wardenburg
Telephone: 64-9-356 9800


Further information on Rubicon Limited can be viewed at the Rubicon web site, at http://www.rubicon-nz.com.




7 April 2017 - Rubicon Limited’s 59.78% subsidiary Tenon Limited filed
the attached News Release regarding receiving Final High Court Orders
relating to its Capital Return.







News Release
Contact: Paul Gillard – General Counsel
& Company Secretary, Tenon Limited
Telephone: 64-9-368 4193

Information on Tenon Limited can be found at http://www.tenon.co.nz.
STOCK EXCHANGE LISTING: NEW ZEALAND (TEN)

Tenon Granted Final High Court Orders Relating to Capital Return

Released 7 April 2017
Tenon announced that the High Court had granted final orders sanctioning the Capital Return
(which was approved by shareholders at the Company’s Special Shareholders’ Meeting held
on 20 March 2017) of US$2.654 for every share to be cancelled (US$1.327 per existing share).
The Record Date for shareholders’ entitlement to the Capital Return is 26 April, and the Capital
Return will be paid on or about 28 April, upon the closing of the sale of the Company’s
Clearwood business. Tenon will announce on 18 April the weighted average exchange rate
used for the conversion of US$ into NZ$ for those shareholders who are to receive their Capital
Return in NZ$.

Tenon also announced that all of the conditions of the sale of the Company’s Clearwood
business and related assets to the Tenon Clearwood Limited Partnership (which was also
approved by shareholders at the Special Shareholders’ Meeting) have been satisfied, other
than the no Material Adverse Change condition which must be satisfied on the closing of the
sale.

End
Rubicon notes Tenon Granted
Final High Court Orders