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 AWF
Class of financial product Restricted Shares
ISIN (If unknown, check on NZX website) NZAWFE0001S8
Currency New Zealand Dollar
Section 2: Capital change details
Number issued 52,000 Restricted G and H
shares (being 20,800 G shares;
and 31,200 H shares)
Nominal value (if any)
Issue price per security $1.85
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 issued
(calculated on the number of Financial Products of the
Class, excluding any Treasury Stock, in existence)
1

100% of remaining Restricted G
shares; and 100% Restricted H
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) Issue/Conversion price is $1.85.
Conversion date for Restricted “G”
shares is from 1 July 2021; and for
Restricted “H” shares is from 1
January 2024. G and H Restricted
Shares rank pari passu with
existing ordinary shares in respect
of rights to dividends and other
distributions and voting rights.
Reason for issue and specific authority for issue (the reason
for change must be identified here)
(b) Issued under the Group 2018
Restricted Share scheme; Board
Resolution dated 25 June 2018
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
Stock after the issue/acquisition/redemption.
180,000 Restricted G shares; and
270,000 Restricted H shares
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
issue is made
Board Resolution
Rule 3.13.1

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

Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
(c) G and H 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).
Date of issue
2
18 June 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

18/06/2019




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).