Capital Change Notice

Template
Capital Change Notice

Updated as at 8 May 2019


Section 1: Issuer information
Name of issuer AWF Madison Group Limited
NZX ticker code
Class of financial product
ISIN (If unknown, check on NZX website)
Currency New Zealand Dollar
Section 2: Capital change details
Number redeemed 15,000 Restricted D shares
Nominal value (if any)
redemption price per security $2.57
Nature of the payment (for example, cash or other
consideration)
Cash
Amount paid up (if not in full) $ Nil
Percentage of total class of Financial Products redeemed
(calculated on the number of Financial Products of the
Class, excluding any Treasury Stock, in existence)
1

9.62% of remaining Restricted D
shares
For an issue of Convertible Financial Products or Options,
the principal terms of Conversion (for example the
Conversion price and Conversion date and the ranking of
the Financial Product in relation to other Classes of
Financial Product) or the Option (for example, the exercise
price and exercise date)
(a) Restricted D shares are restricted
and are unable to be traded until
reclassified as ordinary shares on
the relevant "Qualification Date"
(subject to the holder remaining
employed with AWF and the
repayment of any loans made by
AWF to the holder in respect of the
shares). Restricted D Shares rank
pari passu with existing ordinary
shares in respect of rights to
dividends and other distributions
and voting rights.

Reason for redemption and specific authority for redemption
(the reason for change must be identified here)
(b) Issued under the Group 2014
Restricted Share scheme; these
Restricted shares have not yet
qualified; and holder is no longer
employed.
(c) Board Resolution dated 29 May
2019
Total number of Financial Products of the Class after the
redemption (excluding Treasury Stock) and the total
number of Financial Products of the Class held as Treasury
141,000 Restricted D shares

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

Stock after the issue/acquisition/redemption.
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock
N/A
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the
redemption is made
Board Resolution of 29 May 2017
Rule 3.13.1
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
The aggregate redemption price is
to be applied by AWF in full
repayment of the loan made by
AWF to the holder in respect of the
Restricted D Shares.

Date of redemption
2
29/05/2019
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement David Lazarus
Contact person for this announcement David Lazarus
Contact phone number +64 9 526 8775
Contact email address David.lazarus@awfmadison.co.nz
Date of release through MAP

30/05/2019




2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).