Precinct Retail Offer Closes Oversubscribed

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Level 19, 157 Lambton Quay, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
NZX announcement – 6 March 2019
Precinct Retail Offer Closes Oversubscribed
Precinct Properties New Zealand Limited (Precinct) (NZX: PCT) is pleased to announce that its
$20 million Retail Offer has closed oversubscribed.
The Retail Offer received strong shareholder support with Precinct receiving applications
totalling $21.8 million, exceeding the offer size of $20 million. Precinct has elected to accept
the oversubscriptions for $1.8 million or 9.0%, bringing the total subscriptions under the Retail
Offer to $21.8 million. No applications will be scaled.
The Retail Offer forms part of the $150 million capital raising announced on 19 February 2019.
Scott Pritchard, Precinct’s CEO said: “We are pleased with the level of support we have
received from investors. It demonstrates shareholder confidence in our strategy which
includes an active approach to transforming the quality of our business. The Board and
Management team would like to thank all shareholders who participated in the capital
raising.”
“The funds raised will be used to repay bank debt and provide additional capacity to deliver
on medium term opportunities including Bowen Campus Stage Two and Wynyard Quarter
Stages Three and Four, and provide flexibility for growth opportunities when they arise.”
Allotment of the Retail Offer shares is expected to occur on 11 March 2019.

Ends

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Level 19, 157 Lambton Quay, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267

For further information, please contact:
Scott Pritchard
Chief Executive Officer
Office: +64 9 927 1640
Mobile: +64 21 431 581
Email: scott.pritchard@precinct.co.nz

George Crawford
Chief Operating Officer
Office: +64 9 927 1641
Mobile: +64 21 384 014
Email: george.crawford@precinct.co.nz

Richard Hilder
Chief Financial Officer
Office: +64 9 927 1645
Mobile: +64 29 969 4770
Email: richard.hilder@precinct.co.nz

About Precinct (PCT)
Precinct is New Zealand’s only listed city centre specialist investing predominately in premium
and A-grade commercial office property. Listed on the NZX Main Board, PCT currently owns
Auckland’s PwC Tower, AMP Centre, ANZ Centre (50%), Zurich House, HSBC House, Mason Bros.
Building, 12 Madden Street, 10 Madden Street and Commercial Bay; and Wellington’s AON
Centre, Dimension Data House, No. 1 and No. 3 The Terrace, Pastoral House, Mayfair House
and Bowen Campus.