Comvita successfully completes Retail Entitlement Offer

17 June 2020
NOT FOR RELEASE TO US WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES

COMVITA LIMITED SUCCESSFULLY COMPLETES THE RETAIL COMPONENT OF ITS
1 FOR 4.15 PRO RATA ACCELERATED ENTITLEMENT OFFER
Comvita Limited (Comvita) is pleased to announce that it has successfully completed the retail
entitlement offer component (Retail Entitlement Offer) of its 1 for 4.15 pro-rata non-renounceable
accelerated entitlement offer (Entitlement Offer) as announced on Thursday, 28 May 2020. A total
of NZ$50 million was raised under the Entitlement Offer and the institutional placement (Placement).
The Retail Entitlement Offer closed at 5pm (NZST) on Friday, 12 June 2020 and raised gross
proceeds of NZ$15.8 million. The Retail Entitlement Offer received very strong support from
Comvita’s Eligible Retail Shareholders.
As a result of the effective take-up rate of approximately 105%, shareholders who applied for
allocations via the oversubscription facility will be scaled on a pro-rata basis. This means that
shareholders will receive 100% of their own entitlements for which they applied and approximately
87% of their applications for New Shares above their own entitlements. There will be no Shares
allotted to the underwriters and sub-underwriters of the Retail Entitlement Offer.
The New Shares to be issued under the Retail Entitlement Offer are expected to commence trading
on the NZX Main Board on Friday, 19 June 2020 and will rank equally with existing Shares.
Holding statements for New Shares issued under the Retail Entitlement Offer will be dispatched by
the Registrar, Link Market Services Limited, on Friday, 19 June 2020.
Additional information
Shareholders who have any questions about the Entitlement Offer are encouraged to read the Offer
Document and seek financial, investment or other professional advice from a qualified professional
adviser.
For more information on the content of this announcement, please contact:
David Banfield
Chief Executive Officer
Comvita Limited
Contact: 021 041 5630

Brett Hewlett
Chair
Comvita Limited
Contact: 021 740 160

Note: All capitalised terms not defined in this announcement have the meanings given in the Glossary of
Comvita’s Offer Document dated 28 May 2020.

This announcement has been prepared for publication in New Zealand and is not for distribution or
release in the United States. This announcement does not constitute an offer to sell, or the solicitation
of an offer to buy, any securities in the United States. Any securities described in this announcement
have not been, and will not be, registered under the US Securities Act of 1933, as amended, or the
securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in
the United States except in transactions exempt from, or not subject to, registration under the US
Securities Act and applicable US state securities laws.