Capital Change Notice

Template
Capital Change Notice

Updated as at 17 October 2019



Section 1: Issuer information
Name of issuer Precinct Properties New Zealand Limited
NZX ticker code PCT
Class of financial product Unquoted Performance Share Rights and
Restricted Share Rights (together, the Rights)
ISIN (If unknown, check on NZX website) N/A
Currency NZ$
Section 2: Capital change details
Number issued/acquired/redeemed 2,836,145 Rights
Nominal value (if any) N/A
Issue/acquisition/redemption price per security Rights are issued for nil consideration
Nature of the payment (for example, cash or
other consideration)
N/A
Amount paid up (if not in full) N/A
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

100%
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)
Rights convert on a 1:1 basis for nil
consideration into fully paid ordinary shares
provided that:
- with respect to Restricted Share Rights,
participants remain employed during a
vesting period ending between 30 June
2022 and 30 June 2024; and
- with respect to the Performance Share
Rights, they vest subject to Precinct’s
TSR and FFO performance over a vesting
period between 1 April 2021 and 30 June
2024, and the participant’s continued
employment during the vesting period.
Rights rank behind Precinct’s ordinary shares,
are non-transferable, cannot be encumbered,
and have no voting or other share rights. Rights
are otherwise subject to the terms of individual
award agreements and the rules of the Precinct
Employee Share Scheme including that Rights
lapse at the Board’s discretion in the event of a
material breach of the participant’s employment
obligations, fraud or dishonestly.

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

Shares will be issued on the first trading day
after vesting of the relevant Right.
Reason for issue/acquisition/redemption and
specific authority for
issue/acquisition/redemption/ (the reason for
change must be identified here)
Issue of Rights under Precinct’s Employee
Share Scheme to align employees’ and
shareholders’ interests, promote retention and
facilitate and encourage employee share
ownership.
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.
2,836,145 Rights, being:
- 880,952 Restricted Share Rights; and
- 1,955,193 Performance Share Rights.
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
N/A
Specific authority for the issue, acquisition, or
redemption, including a reference to the rule
pursuant to which the issue, acquisition, or
redemption is made
Resolution of the Board and Listing Rules
4.6.1 and 4.9.1(b).
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
No cash consideration is payable by the
participants on the grant of Rights or on the
issue of fully paid ordinary shares following
vesting of Rights. As noted above, vesting of
Rights is subject to continued employment and
satisfaction of certain performance hurdles (as
applicable).
Date of issue/acquisition/redemption
2
11 June 2021
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Edward Timmins (General Counsel and
Company Secretary)
Contact person for this announcement
Edward Timmins (General Counsel and
Company Secretary)
Contact phone number +64 27 935 2823
Contact email address Edward.Timmins@precinct.co.nz
Date of release through MAP

11 June 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).