Transaction Timetable Update

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NZX Release 25 June 2020

Transaction Timetable Update
The acquisition of aged care facilities from the Brankin Family Trust and related transactions (Proposed
Transaction) remain conditional at this time on raising new equity of at least $6 million and securing
new bank debt facilities. Shareholders recently approved these transactions and satisfied the
shareholder approval condition.

PIL is continuing to progress these two conditions but has had a delay due to some updated
independent valuation information being requested from its proposed debt financier. That information
is currently being prepared for submission and should be completed shortly.

PIL is now working towards having the Proposed Transaction unconditional on 30 June 2020.
Completion would then follow in July on a date that is yet to be determined.

PIL has agreed with NZX that the suspension of trading in PIL ordinary shares remains in place until
completion of the Proposed Transaction.

The adjusted timetable for the Proposed Transaction is now as follows:

Anticipated unconditional date 30 June 2020
Completion of the Proposed Transaction (including the issue of all New
Shares)
July 2020
Suspension lifted and PIL ordinary shares resume trading on NZX
Market
Immediately
following completion

ENDS

For further information please contact Mr Stephen Underwood, Chairman on 027 499 3387 or Mr Rene
de Wit on 021 571 000.