Capital change notices – share rights plan

Kiwi Property Group Limited
Capital Change Notice




Section 1: Issuer information
Name of issuer Kiwi Property Group Limited
NZX ticker code KPG
Class of financial product Unlisted Performance Share
Rights
ISIN (If unknown, check on NZX website) NZKPGE0001S9
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 1,406,695 issued
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security No cash consideration is
payable
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
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

69.38% of all existing
Performance Share Rights
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)
See terms of issue below.
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Performance Share Rights
issued pursuant to the Kiwi
Property Group Limited Share
Rights Plan.
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.
3,434,323 unlisted
Performance Share Rights.
3,434,323 Ordinary Shares if
all Performance Share Rights
vest or are exercised.
There is no treasury stock.
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Authorised by board
resolutions dated 22 March
2021 and 20 May 2021 and
listing rule 4.6.1.

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

Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
The Performance Share Rights
vest each year over a three
year period from 1 April 2021.
Vesting of the Performance
Share Rights is subject to the
satisfaction of the following two
hurdles: (1) 75% of the
Performance Share Rights are
subject to the Company’s
performance against the target
return on capital employed
over the performance period
(being 1 April 2021 to 31
March 2022) (“Performance
Period”); and (2) 25% of the
Performance Share Rights are
subject to the Company’s
relative return over the
Performance Period. Upon
vesting, each Performance
Share Right can be converted
into one Ordinary Share in Kiwi
Property on exercise for no
cash payment. The
Performance Share Rights
cannot be transferred.
Date of issue/acquisition/redemption
2
28 May 2021
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Gavin Parker
Contact person for this announcement Gavin Parker
Contact phone number +64 9 359 4012
Contact email address gavin.parker@kp.co.nz
Date of release through MAP

31 May 2021




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).

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Kiwi Property Group Limited
Capital Change Notice




Section 1: Issuer information
Name of issuer Kiwi Property Group Limited
NZX ticker code KPG
Class of financial product Ordinary shares
ISIN (If unknown, check on NZX website) NZKPGE0001S9
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 725,798 issued
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security No cash consideration is
payable
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
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

0.046%
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)
Issue of shares on exercise of
Performance Share Rights that
have vested under the terms of
the Kiwi Property Group
Limited Share Rights Plan
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Exercise of Performance
Share Rights pursuant to the
Kiwi Property Group Limited
Share Rights Plan
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.
1,570,094,898
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Authorised by board
resolutions dated 22 March
2021 and listing rule 4.6.1
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
The issued shares rank equally
with existing fully paid ordinary
shares

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

Date of issue/acquisition/redemption
2
28 May 2021
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Gavin Parker
Contact person for this announcement Gavin Parker
Contact phone number +64 9 359 4012
Contact email address gavin.parker@kp.co.nz
Date of release through MAP

31 May 2021




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).

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Kiwi Property Group Limited
Capital Change Notice




Section 1: Issuer information
Name of issuer Kiwi Property Group Limited
NZX ticker code KPG
Class of financial product Unlisted Performance Share
Rights
ISIN (If unknown, check on NZX website) NZKPGE0001S9
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 131,804 redeemed
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security No cash consideration is
payable
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
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

4.87% of all existing
Performance Share Rights
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)
Not applicable
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Lapsed Performance Share
Rights redeemed pursuant to
the Kiwi Property Group
Limited Share Rights Plan.
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.
2,576,721 unlisted
Performance Share Rights.

There is no treasury stock.
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Authorised by board
resolutions dated 22 March
2021 and 20 May 2021 and
listing rule 4.14.1.

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

Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
Performance Share Rights
which lapsed because a
performance hurdle was not
satisfied and another
performance hurdle was not
satisfied in part, pursuant to
the Kiwi Property Group
Limited Share Rights Plan.
Date of issue/acquisition/redemption
2
28 May 2021
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Gavin Parker
Contact person for this announcement Gavin Parker
Contact phone number +64 9 359 4012
Contact email address gavin.parker@kp.co.nz
Date of release through MAP

31 May 2021




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).

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Kiwi Property Group Limited
Capital Change Notice




Section 1: Issuer information
Name of issuer Kiwi Property Group Limited
NZX ticker code KPG
Class of financial product Unlisted Restricted Share
Rights
ISIN (If unknown, check on NZX website) NZKPGE0001S9
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 22,009 redeemed
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security No cash consideration is
payable
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
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

7.96% of all existing Restricted
Share Rights
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)
Not applicable
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Lapsed Restricted Share
Rights redeemed pursuant to
the Kiwi Property Group
Limited Share Rights Plan.
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.
254,628 unlisted Restricted
Share Rights.

There is no treasury stock.
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Authorised by board resolution
dated 18 February 2021 and
listing rule 4.14.1.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
Restricted Share Rights which
lapsed because the relevant
participants ceased to meet

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

the criteria set out in the Kiwi
Property Group Limited Share
Rights Plan.
Date of issue/acquisition/redemption
2
28 May 2021
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Gavin Parker
Contact person for this announcement Gavin Parker
Contact phone number +64 9 359 4012
Contact email address gavin.parker@kp.co.nz
Date of release through MAP

31 May 2021




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).