SPH Notice – Pioneer Capital

1
Disclosure of ceasing to have substantial holding
Section 279, Financial Markets Conduct Act 2013
To NZX Limited
and
To Moa Group Limited
Date this disclosure made: 1 October 2019
Date last disclosure made: 27 September 2019
Date on which substantial holding ceased: 30 September 2019
Substantial product holder(s) giving disclosure
Full name(s): Pioneer Capital Management Limited, Pioneer Capital Partners I LP and
NZVIF Investments Limited, Pioneer Capital Moa Limited and Pioneer Capital Curtis
Limited.
Summary of previous substantial holding
Class of quoted voting products: Ordinary Shares.
Summary for: Pioneer Capital Management Limited.
For last disclosure,—
(a) total number held in class: 12,156,516
(b) total in class: 84,088,603
(c) total percentage held in class: 14.457%
For current holding after ceasing to have substantial holding,—
(a) total number held in class: 1,963,044
(b) total in class: 84,408,603
(c) total percentage held in class: 2.326%
Summary for: Pioneer Capital Partners I LP and NZVIF Investments Limited.

For last disclosure,—
(a) total number held in class: 11,040,093
(b) total in class: 84,088,603
(c) total percentage held in class: 13.129%

2
For current holding after ceasing to have substantial holding,—
(a) total number held in class: 1,876,519
(b) total in class: 84,408,603
(c) total percentage held in class: 2.223%
Summary for: Pioneer Capital Moa Limited.
For last disclosure,—
(a) total number held in class: 852,000
(b) total in class: 84,088,603
(c) total percentage held in class: 1.013%
For current holding after ceasing to have substantial holding,—
(a) total number held in class: Nil
(b) total in class: 84,408,603
(c) total percentage held in class: Nil
Summary for: Pioneer Capital Curtis Limited.
For last disclosure,—
(a) total number held in class: 187,499
(b) total in class: 84,088,603
(c) total percentage held in class: 0.223%
For current holding after ceasing to have substantial holding,—
(a) total number held in class: Nil
(b) total in class: 84,408,603
(c) total percentage held in class: Nil

3
Details of transactions and events giving rise to ceasing of substantial holding
Details of the transactions or other events requiring disclosure:
1. Date: 12 September 2019
Nature of the transaction: On-market acquisition of Ordinary Shares funded from
director’s fees.
Total consideration of: $6,000
Number of securities: 19,200 Ordinary Shares with:
- 9,600 Ordinary Shares acquired by Pioneer Capital Management Limited.
- 9,600 Ordinary Shares acquired by Pioneer Capital Curtis Limited.
2. Date: 30 September 2019
Nature of the transaction: Off market in specie distribution of Ordinary Shares.
Total consideration of: Nil
Number of securities: 10,212,673 Ordinary Shares with:
- 852,000 Ordinary Shares held by Pioneer Capital Moa Limited distributed to the
beneficial owners of Pioneer Capital Partners I LP and NZVIF Investments Limited.
- 197,099 Ordinary Shares held by Pioneer Capital Curtis Limited distributed to the
beneficial owners of Pioneer Capital Partners I LP and NZVIF Investments Limited.
- 9,163,574 Ordinary Shares held by Pioneer Capital Partners I LP and NZVIF
Investments Limited distributed to the beneficial owners of Pioneer Capital Partners
I LP and NZVIF Investments Limited.

Additional information
Address(es) of substantial security holder(s):

Pioneer Capital Management Limited: Grant Thornton New Zealand Ltd, Level 4, 152
Fanshawe Street, Auckland 1140, New Zealand.

Pioneer Capital Partners I LP: 77 Parnell Road, Parnell, Auckland 1052, New Zealand.
NZVIF Investments Limited: Level 1, 12 Madden Street, Wynyard Quarter, Auckland
1010, New Zealand.

Pioneer Capital Moa Limited: Grant Thornton New Zealand Ltd, Level 4, 152 Fanshawe
Street, Auckland 1010, New Zealand.

Pioneer Capital Curtis Limited: Grant Thornton New Zealand Ltd, Level 4, 152
Fanshawe Street, Auckland 1010, New Zealand.

4
Contact details: Graham Fussell, 77 Parnell Road, Parnell, Auckland 1052, New Zealand.
Phone: (09) 304-0870, email: graham.fussell@pioneercapital.co.nz
Nature of connection between substantial product holders:
Pioneer Capital Management Limited is the investment manager for Pioneer Capital Partners
I LP and NZVIF Investments Limited, for Pioneer Capital Moa Limited and for Pioneer Capital
Curtis Limited.
Pioneer Capital Moa Limited is a separate holding company owned indirectly by Pioneer
Capital Partners I LP and NZVIF Investments Limited.
Pioneer Capital Curtis Limited is a separate holding company owned indirectly by Pioneer
Capital Partners I LP and NZVIF Investments Limited.
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial products
to which this disclosure relates: none

Certification
I, Graham Fussell, certify that, to the best of my knowledge and belief, the information
contained in this disclosure is correct and that I am duly authorised to make this disclosure
by all persons for whom it is made.