Precinct successfully completes $220m Placement

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

NZX announcement – 21 June 2021
Precinct successfully completes $220m Placement
Precinct Properties New Zealand Limited (NZX: PCT) (Precinct) is pleased to announce that it
has successfully completed the bookbuild for the underwritten $2 20 million placement
component (Placement) of the $250 million equity raise announced on 18 June 2021 (Equity
Raise).
Scott Pritchard, Precinct’s CEO said “Successfully completing the $220 million Placement
demonstrates the strong investment demand for our business. Pleasingly, we have received
strong support from our existing institutional shareholders and also attracted bids from new
institutional investors for this equity raising, reinforcing investor confidence for our business and
Precinct’s long-term strategy.”
“The net proceeds will be used to acquire the two Wellington re-development opportunities
and fund the Bowen House re-development. We look forward to advancing our Wellington
offering.”
The Placement was fully subscribed at the price determined in the bookbuild of $1.52 per
share. This represents a discount of 4.4% to the last close price of $1.59 on 17 June 2021 and a
discount of 5.1% to the 5-day volume weighted average price of $1.6009.
Precinct undertook the Placement with the key objectives of treating all shareholders fairly
and prioritising existing shareholders. All existing institutional shareholders who bid for their pro-
rata allocation of the Equity Raise were allocated at least that amount of new shares.
Settlement, allotment and the commencement of trading of all new shares issued under the
Placement is expected to occur on 24 June 2021. The new shares to be issued under the
Placement will rank equally in all respects with Precinct’s existing ordinary shares on issue.
As announced on 18 June 2021, Precinct is also undertaking a non-underwritten NZ$30 million
retail offer (with the ability to accept oversubscriptions at Precinct’s discretion) (Retail Offer)
as part of the Equity Raise. A Retail Offer document will be made available at
www.shareoffer.co.nz/precinct
from 22 June 2021. All eligible shareholders are encouraged
to visit this website for further details regarding the Retail Offer and to apply online.

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Ends

For further information, please contact:
Scott Pritchard
Chief Executive Officer
Mobile: +64 21 431 581
Email: scott.pritchard@precinct.co.nz

George Crawford
Deputy Chief Executive Officer
Mobile: +64 21 384 014
Email: george.crawford@precinct.co.nz

Richard Hilder
Chief Financial Officer
Mobile: +64 29 969 4770
Email: richard.hilder@precinct.co.nz


About Precinct (PCT)
Precinct is New Zealand’s only listed city centre specialist investing predominantly in premium
and A-grade commercial office property. Listed on the NZX Main Board, PCT currently owns
Auckland’s HSBC Tower, AMP Centre, Jarden House, One Queen Street, 204 Quay Street,
Mason Bros. Building, 12 Madden Street, 10 Madden Street, PwC Tower and Commercial Bay
Retail; and Wellington’s AON Centre, NTT Tower, Central on Midland Park, No. 1 and No. 3
The Terrace, Mayfair House, Charles Fergusson Building and Defence House.
Precinct owns Generator NZ, New Zealand’s premier flexible office space provider.
Generator currently offers 13,600 square metres of space across four locations in Auckland.