Dividend Reinvestment Plan – Reinvestment Price

NZX Announcement


23 March 2020


Freightways Dividend Reinvestment Plan
Freightways Limited (NZX: FRE) advises that under its dividend reinvestment plan (DRP)
for its FY20 interim dividend (interim dividend), based on the value weighted average price
(VWAP) of shares traded in Freightways over the period 16-20 March 2020, the
reinvestment price has been set at $5.37 per share.
On 24 February 2020, Freightways advised that it expected any shortfall in take-up under
the DRP for the interim dividend to be underwritten. Due to the general market volatility,
Freightways has not entered into an underwriting agreement for the shortfall (which is
equivalent to 2,949,370 shares at the DRP price), but may look to do so or otherwise deal
with those shares in the near term, subject to market conditions.
It is expected that shares taken-up under the DRP for the interim dividend will be allotted
on 1 April 2020, when the interim dividend is payable.
As announced last week, the acquisition of Big Chill Distribution Limited (Big Chill) is
expected to occur on 1 April 2020. Freightways confirms that it does not require the shortfall
under the DRP for the interim dividend to be underwritten to fund settlement of that
acquisition. Once completion has occurred, Freightways will provide more information
regarding the Big Chill business and its integration into Freightways.

ENDS

For further information please contact:

Mark Troughear
Chief Executive Officer
Freightways Limited
Ph: +64 (9) 571 9673