SPH Notices – Swasbrook/Elevation Capital/Milsom

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1
Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To NZX Limited
and
To Allied Farmers Limited
Date this disclosure made: 18 December 2020
Date on which substantial holding began: 18 December 2020
Substantial product holder(s) giving disclosure
Full name(s): Christopher Swasbrook / Elevation Capital Management Limited
Summary of substantial holding
Class of quoted voting products: Shares
Summary for Christopher Swasbrook / Elevation Capital Management Limited
For this disclosure,—
(a) total number held in class: 2,455,025
(b) total in class: 22,318,411
(c) total percentage held in class: 11.00%
Details of relevant interests
Details for Elevation Capital Management Limited
Nature of relevant interest(s): Beneficial owner and power to exercise, or to control the
exercise of, a right to vote attached to the financial products.
For that relevant interest,—
(a) number held in class: 2,455,025
(b) percentage held in class: 11.00%
(c) current registered holder(s): Not applicable
(d) registered holder(s) once transfers are registered: Not applicable
Details of transactions and events giving rise to substantial holding
Share issue at $0.50 per share in accordance with the sale and purchase agreement
between the substantial product holder and the issuer where the issuer has purchased
interests in New Zealand Rural Land Management Limited Partnership from the substantial
product holder (and others). The purchase price under that agreement has been partially
satisfied today by the issuer issuing these shares to the substantial product holder.
Additional information
Address(es) of substantial product holder(s): 37b George Street, Newmarket, Auckland

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Contact details: chris.swasbrook@elevationcapital.co.nz ph. 021 92 82 62
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: Not applicable
Disclosure has effect for purposes of directors’ and senior managers’ disclosure
Christopher Swasbrook is also a Director of Allied Farmers Limited. This disclosure
also constitutes disclosure for the purposes of the directors’ and senior managers’
disclosure obligations.
Certification
I, Christopher Swasbrook, certify that, to the best of my knowledge and belief, the
information contained in this disclosure is correct and that I am duly authorised to make
this disclosure by all persons for whom it is made.

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12457650_1
1
Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To NZX Limited
and
To Allied Farmers Limited
Date this disclosure made: 18 December 2020
Date on which substantial holding began: 18 December 2020
Substantial product holder(s) giving disclosure
Full name(s): Richard Milsom / RPMilsom Investments Limited
Summary of substantial holding
Class of quoted voting products: Shares
Summary for: Richard Milsom / RPMilsom Investments Limited
For this disclosure,—
(a) total number held in class: 1,115,921
(b) total in class: 22,318,411
(c) total percentage held in class: 5.00%
Details of relevant interests
Details for Richard Milsom
Nature of relevant interest(s): Registered holder and beneficial owner of financial products.
For that relevant interest,—
(a) number held in class: 892,736
(b) percentage held in class: 4.00%
(c) current registered holder(s): Not applicable
(d) registered holder(s) once transfers are registered: Not applicable
Details for RPMilsom Investments Limited
Nature of relevant interest(s): Beneficial owner and power to exercise, or to control the
exercise of, a right to vote attached to the financial products.
For that relevant interest,—
(a) number held in class: 223,185
(b) percentage held in class: 1.00%

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(c) current registered holder(s): Not applicable
(d) registered holder(s) once transfers are registered: Not applicable
Details of transactions and events giving rise to substantial holding
Share issue at $0.50 per share in accordance with the sale and purchase agreement
between the substantial product holder and the issuer where the issuer has purchased
interests in New Zealand Rural Land Management Limited Partnership from the substantial
product holder (and others). The purchase price under that agreement has been partially
satisfied today by the issuer issuing these shares to the substantial product holder.
Additional information
Address(es) of substantial product holder(s): Richard Milsom c/- 37b George Street,
Newmarket, Auckland
Contact details: richard.milsom@elevationcapital.co.nz ph. 021 274 2476
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: Not applicable.
Certification
I, Richard Milsom, certify that, to the best of my knowledge and belief, the information
contained in this disclosure is correct and that I am duly authorised to make this disclosure
by all persons for whom it is made.