Conversion of redeemable preference shares

Capital Change Notice


7 August 2020

Conversion of redeemable preference shares

This notice is given under NZX Listing Rules 3.13.1 and 3.15.2 and relates to the conversion of
redeemable preference shares in AFT Pharmaceuticals Limited.

Section 1: Issuer information
Name of issuer AFT Pharmaceuticals Limited
NZX ticker code AFT
Class of financial product Ordinary shares
ISIN (If unknown, check on NZX website) NZAFTE0001S4
Currency NZD
Section 2: Capital change details
Number issued 867,826 ordinary shares, comprising:
(a) 730,000 ordinary shares created
upon the conversion of 730,000
redeemable preference shares;
and
(b) 137,826 ordinary shares issued
in respect of accumulated
dividends on the redeemable
preference shares in (a).
Nominal value (if any) Not applicable
Issue price per security The issue price of the ordinary shares
issued in respect of accumulated
dividends on the redeemable
preference shares converted, was
$2.74 per share.
Nature of the payment Not applicable
Amount paid up (if not in full) In full
Percentage of total class of Financial Products issued
(calculated on the number of Financial Products of the
Class, excluding any Treasury Stock, in existence)
0.837%
For an issue of Convertible Financial Products or
Options, the principal terms of Conversion
Not applicable
Reason for issue and specific authority for issue
Issue upon conversion of redeemable
preference shares
Total number of Financial Products of the Class after
the issue (excluding Treasury Stock) and the total
104,568,875 ordinary shares

number of Financial Products of the Class held as
Treasury Stock after the issue.
Specific authority for the issue, including a reference
to the rule pursuant to which the issue is made
Directors’ resolution, Listing Rule 4.9.1
Terms or details of the issue (for example: restrictions,
escrow arrangements)
The ordinary shares issued rank pari
passu with the existing ordinary shares.
In accordance with the terms of the
redeemable preference shares, the
137,826 ordinary shares that are
issued in respect of accumulated
dividends on the redeemable
preference shares may not be sold or
transferred within the 12 month period
after the issue of those ordinary shares,
unless off-market to certain qualified
investors and the buyer provides an
equivalent covenant to AFT.
Date of issue
07/08/2020
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Malcolm Tubby
Contact person for this announcement Malcolm Tubby
Contact phone number +64 9 488 0232
Contact email address malcolm@aftpharm.com
Date of release through MAP

07/08/2020

The following information is given under NZX Listing Rule 3.15.2 in respect of the conversion of
redeemable preference shares in AFT Pharmaceuticals described in the above sections of this
notice:

Redeemable preference shares
Number of redeemable preference shares converted 730,000 redeemable preference shares
Number of ordinary shares into which the redeemable
preference shares have converted
867,826 ordinary shares, comprising:
(a) 730,000 ordinary shares created
upon the conversion of 730,000
redeemable preference shares;
and
(b) 137,826 ordinary shares issued
in respect of accumulated
dividends on the redeemable
preference shares in (a).
Details of interest or dividend conditions attaching to
ordinary shares into which the redeemable preference
shares have converted
Nil
Number of redeemable preference shares remaining
on issue after the conversion
Nil