FFW Shareholders Approve Acquisition of Mt Difficulty Wines

NZAX Release

28 March 2018
For Immediate Release

FFW Shareholders Approve Acquisition of Mt Difficulty Wines

At Foley Family Wines Limited’s Special Meeting of Shareholders, held in Blenheim today,
shareholders were asked to vote on three ordinary resolutions approving the Mt Difficulty Wines
Proposed Transaction and a Private Placement, all of which were supported by the Board.

Voting at the meeting was conducted by a show of hands and Proxy Forms were received from 130
shareholders representing 45,679,046 shares representing 87.47% of the ordinary shares on issue.

All three resolutions were passed by shareholders.

Detail of the total number of votes cast in person or by a proxy holder are:

Resolution For Against Abstain
Resolution 1: “THAT for the purposes of NZAX Listing
Rule 9.1.1(b) the Company is authorised to acquire the
business, assets and certain liabilities of Mt Difficulty Wines
Limited subject to the terms and conditions set out in the
Asset Sale and Purchase Agreement entered into on 14
November 2017.”
46,902,877
shares/
99.22%
352,589
shares/
0.75%
14,250
shares/
0.03%
Resolution 2(a): “THAT For the purposes of NZAX Listing
Rule 7.3.1(a), the Board be authorised to issue up to $20
million of new ordinary shares in the Company to partially
fund the Proposed Transaction”
46,885,620
shares/
99.19%
367,589
shares/
0.78%
14,250
shares/
0.03%
Resolution 2(b): “THAT For the purposes of NZAX Listing
Rule 9.2.1, that Foley Family Wines Holdings, New Zealand
Limited, the Directors of the Company and their Associated
Persons (as defined in the NZAX Listing Rules) are
authorised to participate in the Private Placement, on the
terms and conditions described in this Notice of Meeting.”
12,016,508
shares/
96.70%
395,347
shares/
3.18%
14,519
shares/
0.12%

CEO Mark Turnbull advised that Completion of the Mt Difficulty Wines transaction was still
conditional on a number of matters including Overseas Investment Office (OIO) approval and
obtaining key third party consents. He confirmed that the Company had received confirmation this
week from the Overseas Investment Office that they had now completed their initial review of the
application and confirmed that it had been accepted for assessment.


Authorised for public release.

For further information please contact:
Mark Turnbull
CEO, Foley Family Wines Limited
PO Box 67, Renwick, 7243, Marlborough
Tel: +64 21 714 885
Email: mark@ffw.co.nz