Results for announcement to the market App1

AFT Pharmaceuticals Limited, Level 1, 129 Hurstmere Road, Takapuna, Auckland 0622, New Zealand
Incorporated in New Zealand ARBN:
ARBN 609 017 969



AFT Pharmaceuticals Limited
Results for announcement to the market

Reporting Period: For the six month reporting period to September 30 2017
Previous Reporting Period: For the six month reporting period to September 30 2016

Amount
NZ$’000
Percentage
Change

Revenues from ordinary activities 36,561 Up 23%

Loss from ordinary activities after tax attributable to security holders (6,873) Down 38%

Net loss attributable to security holders (6,883) Down 33%

Interim / Final Dividend
Amount per
security NZ$
Imputed
Amount per
security NZ$
Interim – Unlisted Redeemable preference shares NZ 3.5c NZ 1.4c
Record Date: 14 June 2017
Dividend payment date: 30 June 2017
Net Tangible Assets per Share
September
30 2017
NZ$
September
30 2016
NZ$
Net Tangible Assets per Share 0.11 0.16


Comments:
Accompanying this announcement are the Group’s unaudited consolidated financial statements for the six
months ended 30 September 2017. These financial statements and the half year results commentary dated
November 23 2017 provide the balance of information requirements in accordance with NZX Listing Rule
10.3.2 and Appendix 1.
Pursuant to ASX listing rule 1.15.3 AFT Pharmaceuticals Limited confirms that it continues to comply with the
rules of its home exchange (NZX Main Board).
The unlisted Redeemable preference shares issued on 24 March 2017 attract a dividend rate of 9.4% per
annum, or 25.8 cents per share per annum. For the 31 March 2017 and 30 June 2017 quarter ends, 50% of the
dividend was paid in cash and included in the above table. For the 30 September 2017 quarter end no
dividends were paid. The remaining 50% of dividends net of withholding taxes for the 31 March 2017 and 30
June 2017 quarter ends together with all of the dividends net of withholding taxes for the 30 September 2017
quarter end have been accumulated in the Redeemable Preference Share Reserve.
No dividends have been paid on ordinary shares.

AFT Pharmaceuticals Limited, Level 1, 129 Hurstmere Road, Takapuna, Auckland 0622, New Zealand
Incorporated in New Zealand ARBN:
ARBN 609 017 969

Additional Information
The following is additional information to accompany the Company’s interim report for the six months ended
30 September 2017.
Summary of waiver granted
On 21 December 2015, NZX granted the Company a waiver (Original Waiver) from NZX Main Board Listing
Rule 5.2.3 in respect of its quoted shares (“Shares”) for a period of 12 months to the extent the Rule required
the Company to have at least 25% of Shares held by Members of the Public holding at least a Minimum
Holding (as that term is defined in the NZX Main Board Listing Rules). The Original Waiver has subsequently
expired. On 21 December 2016, a further waiver from NZX Main Board Listing Rule 5.2.3 was granted to AFT
for a further 12 month period.

The waiver was granted on the following conditions:

• NZX receives an undertaking from the Atkinson Family Trust (“AF Trust”) that it will not increase its
holding in AFT during the term of the waiver, otherwise than as a result of an allotment pursuant to
an offer or issue of shares that is made pro-rata to all AFT shareholders;
• at least 10% of shares are held by more than 500 Members of the Public, with each Member of the
Public holding at least a Minimum Holding;
• AFT clearly and prominently discloses this waiver, its conditions, and its implications in AFT’s half
year and annual reports, and in any Offer Documents relating to any offer of shares undertaken by
AFT, during the period of the waiver;
• AFT consistently monitors the total number of Members of the Public holding shares and the
percentage of shares held by Members of the Public holding at least a Minimum Holding;
• AFT notifies NZX as soon as practicable if there is any material reduction to the total number of
Members of the Public holding at least a Minimum Holding of shares, and/or the percentage of
shares held by Members of the Public holding at least a Minimum Holding; and
• AFT provides NZX with a written quarterly update of the total number of Members of the Public
holding shares holding at least a Minimum Holding and the percentage of shares held by Members of
the Public holding at least a Minimum Holding. The quarterly updates are from the date the waiver is
granted, for the period of the waiver. The updates are to be provided to NZX within ten business
days of the end of each quarter.
• AFT provides NZX, with the second quarterly update, an update on:
o the proposed initiatives AFT intends to undertake to materially increase the percentage of
shares held by Members of the Public before the expiry of the waiver; and
o the intentions of the parties under the Escrow Arrangements in respect of their ongoing
holding or sale of any of the shares released from escrow during the waiver period
(following engagement by AFT with such parties).
The implication of the waiver is that the Shares may not be widely held and that there may be reduced liquidity
in the Shares following quotation.
[End of release]

For more information:
Malcolm Tubby
Chief Financial Officer, AFT Pharmaceuticals Ltd
Phone: +64 9 488 0232
Email: malcolm@aftpharm.com