DRP: Notification of issue of securities

Chorus Limited
Level 10, 1 Willis Street
P O Box 632
Wellington
New Zealand

Email: company.secretary@chorus.co.nz

STOCK EXCHANGE ANNOUNCEMENT

14 April 2020

Dividend Reinvestment Plan: Notification of issue of securities

Chorus Limited has issued 782,337 new shares under its Dividend Reinvestment Plan
(DRP) as per the attached notices. The DRP participation rate in the FY20 interim
dividend was about 11%.


ENDS

For further information

Authorised by:
Elaine Campbell
General Counsel & Company Secretary

ENDS

For further information:

Steve Pettigrew
Head of External Communications
Mobile +64 (27) 258 6257
Email: Steve.Pettigrew@chorus.co.nz
Brett Jackson
Investor Relations Manager
Phone: +64 4 896 4039
Mobile: +64 (27) 488 7808
Email: Brett.Jackson@chorus.co.nz

---

Template
Capital Change Notice

Updated as at 17 October 2019


Section 1: Issuer information
Name of issuer Chorus Limited
NZX ticker code CNU
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZCNUE0001S2
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 782,337
Nominal value (if any) N/A
Issue/acquisition/redemption price per security $6.3148
Nature of the payment (for example, cash or other
consideration)
Cash
Amount paid up (if not in full) $N/A
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury Stock,
in existence)
1

0.002%
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)
N/A
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Issue of 782,337 ordinary
shares to existing shareholders
under Chorus’ Dividend
Reinvestment Plan.

Board Resolution dated
21/02/2020.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding Treasury
Stock) and the total number of Financial Products of the Class
held as Treasury Stock after the issue/acquisition/redemption.
444,491,560 ordinary shares
0 Treasury Stock
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,
acquisition, or redemption is made
Board Resolution dated
21/02/2020.


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

The shares are issued under
listing rule 4.8.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
The shares rank pari passu
with existing ordinary shares.
Date of issue/acquisition/redemption
2
14/04/2020
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement
Elaine Campbell
General Counsel &Company
Secretary
Contact person for this announcement Brett Jackson
Contact phone number +64 4 896 4039
Contact email address Brett.Jackson@chorus.co.nz
Date of release through MAP 14/04/2020




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).

---

Appendix 3B
New issue announcement
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 1



Appendix 3B
Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement,
application for quotation of additional securities
and agreement
Information or documents not available now must be given to ASX as soon as available. Information and
documents given to ASX become ASX’s property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12,
04/03/13


Name of entity
Chorus Limited (“Chorus”)

ABN
152 485 848

We (the entity) give ASX the following information.


Part 1 - All issues
You must complete the relevant sections (attach sheets if there is not enough space).

1
+
Class of
+
securities issued or to
be issued


2 Number of
+
securities issued or
to be issued (if known) or
maximum number which may be
issued


3 Principal terms of the
+
securities (e.g. if options,
exercise price and expiry date; if
partly paid
+
securities, the
amount outstanding and due
dates for payment; if
+
convertible securities, the
conversion price and dates for
conversion)
Fully paid ordinary shares ranking equally
with existing ordinary shares
Fully paid ordinary shares
782,337

Appendix 3B
New issue announcement
+ See chapter 19 for defined terms.
Appendix 3B Page 2 04/03/2013




4 Do the
+
securities rank equally in
all respects from the
+
issue date
with an existing
+
class of quoted
+
securities?

If the additional
+
securities do
not rank equally, please state:
• the date from which they do
• the extent to which they
participate for the next
dividend, (in the case of a
trust, distribution) or interest
payment
• the extent to which they do
not rank equally, other than
in relation to the next
dividend, distribution or
interest payment
Yes. The shares rank equally with existing
fully paid ordinary shares.

5 Issue price or consideration
NZD 6.3148 per share


6
Purpose of the issue
(If issued as consideration for the
acquisition of assets, clearly
identify those assets)
Issue of shares under Chorus’ Dividend
Reinvestment Plan.

6a Is the entity an
+
eligible entity
that has obtained security holder
approval under rule 7.1A?

If Yes, complete sections 6b – 6h
in relation to the
+
securities the
subject of this Appendix 3B, and
comply with section 6i
No

6b
The date the security holder
resolution under rule 7.1A was
passed
N/a

6c
Number of
+
securities issued
without security holder approval
under rule 7.1
N/a

Appendix 3B
New issue announcement
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 3



6d
Number of
+
securities issued
with security holder approval
under rule 7.1A
N/a


6e
Number of
+
securities issued
with security holder approval
under rule 7.3, or another
specific security holder approval
(specify date of meeting)
N/a


6f
Number of
+
securities issued
under an exception in rule 7.2
N/a


6g If
+
securities issued under rule
7.1A, was issue price at least 75%
of 15 day VWAP as calculated
under rule 7.1A.3? Include the
+
issue date and both values.
Include the source of the VWAP
calculation.
N/a


6h
If
+
securities were issued under
rule 7.1A for non-cash
consideration, state date on
which valuation of
consideration was released to
ASX Market Announcements
N/a


6i Calculate the entity’s remaining
issue capacity under rule 7.1 and
rule 7.1A – complete Annexure 1
and release to ASX Market
Announcements
N/a


7
+
Issue dates
Note: The issue date may be prescribed by ASX
(refer to the definition of issue date in rule
19.12). For example, the issue date for a pro rata
entitlement issue must comply with the
applicable timetable in Appendix 7A.
Cross reference: item 33 of Appendix 3B.
14 April 2020



Number
+
Class
8 Number and
+
class of all
+
securities quoted on ASX
(including the
+
securities in
section 2 if applicable)
444,491,560

EUR
500,000,000


EUR
300,000,000
Fully paid ordinary shares
Euro Medium Term Notes
(2016 Programme)
Euro Medium Term
Notes (2019 Programme)

Appendix 3B
New issue announcement
+ See chapter 19 for defined terms.
Appendix 3B Page 4 04/03/2013

Appendix 3B
New issue announcement
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 5





Number
+
Class
9
Number and
+
class of all
+
securities not quoted on ASX
(including the
+
securities in
460,832,333
CIP1 Equity Securities
(unquoted)

section 2 if applicable)
460,832,333 CIP1 Debt Securities

(unquoted)

13,970,171 CIP1 Warrants

(unquoted)

126,076,611 CIP2 Equity Securities

(unquoted)

10
Dividend policy (in the case of a
trust, distribution policy) on the
increased capital (interests)
The shares rank equally with fully paid
existing ordinary shares in respect of
dividends


Part 2 - Pro rata issue

11
Is security holder approval
required?
N/a

12
Is the issue renounceable or non-
renounceable?
N/a

13 Ratio in which the
+
securities
will be offered
N/a

14
+
Class of
+
securities to which the
offer relates
N/a

15
+
Record date to determine
entitlements
N/a

16
Will holdings on different
registers (or subregisters) be
aggregated for calculating
entitlements?
N/a

17
Policy for deciding entitlements
in relation to fractions
N/a

Appendix 3B
New issue announcement
+ See chapter 19 for defined terms.
Appendix 3B Page 6 04/03/2013



18
Names of countries in which the
entity has security holders who
will not be sent new offer
documents
Note: Security holders must be told how their
entitlements are to be dealt with.
Cross reference: rule 7.7.
N/a

19
Closing date for receipt of
acceptances or renunciations
N/a

20 Names of any underwriters
N/a

21
Amount of any underwriting fee
or commission
N/a

22
Names of any brokers to the
issue
N/a

23 Fee or commission payable to the
broker to the issue
N/a

24 Amount of any handling fee
payable to brokers who lodge
acceptances or renunciations on
behalf of security holders
N/a

25
If the issue is contingent on
security holders’ approval, the
date of the meeting
N/a

26
Date entitlement and acceptance
form and offer documents will be
sent to persons entitled
N/a

27
If the entity has issued options,
and the terms entitle option
holders to participate on exercise,
the date on which notices will be
sent to option
holders
N/a

28
Date rights trading will begin (if
applicable)
N/a

29
Date rights trading will end (if
applicable)
N/a

Appendix 3B
New issue announcement
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 7




30
How do security holders sell
their entitlements in full through
a broker?
N/a

31 How do security holders sell part
of their entitlements through a
broker and accept for the
balance?
N/a

32 How do security holders dispose
of their entitlements (except by
sale through a broker)?
N/a

33
+
Issue date
N/a


Part 3 - Quotation of securities
You need only complete this section if you are applying for quotation of securities

34 Type of
+
securities
(tick one)
(a)
+
Securities described in Part 1



(b)
All other
+
securities
Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid,
employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible
securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities


Tick to indicate you are providing the information or
documents

35 If the
+
securities are
+
equity securities, the names of the 20 largest holders of the
additional
+
securities, and the number and percentage of additional
+
securities
held by those holders

36 If the
+
securities are
+
equity securities, a distribution schedule of the additional
+
securities setting out the number of holders in the categories
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and over

Appendix 3B
New issue announcement
+ See chapter 19 for defined terms.
Appendix 3B Page 8 04/03/2013




37
A copy of any trust deed for the additional
+
securities

Entities that have ticked box 34(b)

38
Number of
+
securities for which
+
quotation is sought


39
+
Class of
+
securities for which
quotation is sought


40
Do the
+
securities rank equally in
all respects from the
+
issue date
with an existing
+
class of quoted
+
securities?

If the additional
+
securities do not
rank equally, please state:
• the date from which they do
• the extent to which they
participate for the next
dividend, (in the case of a trust,
distribution) or interest
payment
• the extent to which they do not
rank equally, other than in
relation to the next dividend,
distribution or interest
payment


41
Reason for request for quotation
now
Example: In the case of restricted securities, end
of restriction period

(if issued upon conversion of
another
+
security, clearly identify
that other
+
security)



Number
+
Class
42
Number and
+
class of all
+
securities quoted on ASX
(including the
+
securities in clause
38)

Appendix 3B
New issue announcement
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 9



Quotation agreement

1
+
Quotation of our additional
+
securities is in ASX’s absolute discretion. ASX
may quote the
+
securities on any conditions it decides.

2 We warrant the following to ASX.

• The issue of the
+
securities to be quoted complies with the law and is
not for an illegal purpose.

• There is no reason why those
+
securities should not be granted
+
quotation.

• An offer of the
+
securities for sale within 12 months after their issue will
not require disclosure under section 707(3) or section 1012C(6) of the
Corporations Act.
Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be
able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to
any applications received by us in relation to any
+
securities to be
quoted and that no-one has any right to return any
+
securities to be
quoted under sections 737, 738 or 1016F of the Corporations Act at the
time that we request that the
+
securities be quoted.

• If we are a trust, we warrant that no person has the right to return the
+
securities to be quoted under section 1019B of the Corporations Act at
the time that we request that the
+
securities be quoted.

3 We will indemnify ASX to the fullest extent permitted by law in respect of any
claim, action or expense arising from or connected with any breach of the
warranties in this agreement.

4 We give ASX the information and documents required by this form. If any
information or document is not available now, we will give it to ASX before
+
quotation of the
+
securities begins. We acknowledge that ASX is relying on the
information and documents. We warrant that they are (will be) true and
complete.



Sign here: . Date: 14 April 2020
(Director/Company secretary)

Print name: Elaine Campbell

== == == == ==