BIL Completion of TIL Acquisition

6 December 2017
NZX Announcement


BIL: COMPLETION OF TIL ACQUISITION

Bethunes Investments Limited (NZX:BIL) (Bethunes) is pleased to announce that it has today
completed its acquisition of the transport and logistics business of Transport Investments Limited
and related transactions (Completion).
Incoming chair, Trevor Janes, commented: “The future of TIL Logistics Group as a leading provider in
New Zealand’s freight and logistics industry is now secured. There is growing demand for high
quality, end to end freight and logistics supply chain solutions, and TIL has the reputation, expertise
and capability to take advantage of this.
“We have a number of very real and tangible opportunities in our sights and are poised to start
realising the company’s growth ambitions.
“The outlook for the freight industry is positive and will drive stable revenue and earnings growth for
the company. Along with strong forecast cash generation, this provides the ability to invest into
business expansion and acquisition as well as reward shareholders with attractive returns.”

Resignation and Appointment of Directors
With effect from Completion, Chris Swasbrook, Ian Halstead and Aaron Titter, resigned as directors
of Bethunes and were replaced by a new board of directors comprising of Trevor Janes, Jim Ramsay,
Greg Kern, Lorraine Witten and Danny Chan. The Board of Bethunes has determined that each of
Trevor Janes, Lorraine Witten and Danny Chan is an Independent Director (as defined in the NZX
Main Board Listing Rules).
Change in Auditors
Following Completion, Bethunes’ current external auditor, KPMG, has resigned and the Board of
Bethunes has appointed PricewaterhouseCoopers as Bethunes’ new auditor.
Change of Balance Date
Following Completion, the Board of Bethunes resolved to change Bethunes’ balance date from 31
March to 30 June. As a result of this change, the next reported balance date for Bethunes will be 30
June 2018.
It is intended that Bethunes’ next reported interim results will be for the 6-month period to 31
December 2017.

Cont.

Change of Contact Details
As a result of Completion occurring, the following changes to Bethunes’ contact details will take
place:
The registered office and address for service will change to:

330 Devon Street East
New Plymouth 4312
New Zealand
The postal address will change to:

Private Bag 2040
New Plymouth 4342
New Zealand

The contact telephone and fax numbers will change to:

Phone: 06 755 9990
Fax: 06 755 0264

With the exception of the change to the registered office and address for service which, in
accordance with the Companies Act 1993, will take effect in five working days, the above changes to
contact details take effect immediately.

Change in Company Name

Prior to the NZX Main Board market opening tomorrow, Bethunes will change its name to TIL
Logistics Group Limited and its NZX ticker code to TLL.

ENDS
For further information and media assistance, please contact:

Greg Whitham, Chief Financial Officer Jackie Ellis, Media Liaison
Phone: +64 27 471 7120 Phone: + 64 27 246 2505
Email: greg.whitham@til.kiwi
Email: jackie@ellisandco.co.nz