Completion of Retail Offer

The Blade, Level 4, 12 St Marks Road, Remuera, Auckland, 1050, New Zealand | +64 9 379 6493
www.nzrlc.co.nz
NEW ZEALAND Rural Land Co
WWW.NZRLC.CO.NZ
28 June 2022
Completion of Retail Offer
New Zealand Rural Land Company Limited (NZL.NZX) has completed the retail component (Retail Offer) of its pro rata
accelerated renounceable entitlement offer (Offer).
The Retail Offer closed on Thursday, 23 June 2022 and raised gross proceeds of approximately NZ$2.6 million. Eligible retail
shareholders took up approximately 29.5% of their entitlements, representing approximately 2.5 million new shares. Eligible retail
shareholders who took up their entitlements in full also applied for ~$0.6m of additional new shares under the Offer.
The institutional component of the Offer was accelerated, closing on Thursday, 9 June 2022 and raised approximately NZ$11.4
million.
Retail Bookbuild
NZL will offer approximately $6.3 million of entitlements for sale under the retail shortfall bookbuild (Retail Bookbuild). These
entitlements are those attributable to eligible retail shareholders that did not take up their full entitlements and retail shareholders
who were ineligible to participate in the Retail Offer.
Any proceeds achieved above the Application Price will be paid (less applicable taxes) on a pro rata basis to those eligible retail
shareholders who did not take up their entitlements in full or retail shareholders who were ineligible to participate in the Retail Offer.
There is no guarantee that any amount will be realised for the sale of retail entitlements through the Retail Bookbuild.
The Retail Bookbuild will be conducted today and is open to institutional investors and brokers acting on behalf of retail clients in
New Zealand. NZL’s ordinary shares are being placed in a trading halt today while the Retail Bookbuild is conducted. Trading is
expected to recommence on market open tomorrow, Wednesday 29 June 2022, with the announcement of the outcome of the
Retail Bookbuild.
Settlement and allotment of all shares for the Retail Offer (including those placed under the Retail Bookbuild) is expected to occur
on Thursday, 30 June 2022, with trading of those shares expected to commence on the same day. The new shares to be issued
under the Retail Offer will rank equally in all respects with NZL’s existing ordinary shares. Holding statements for the new shares
issued under the Retail Offer will be despatched following allotment.
For further information please contact:
Richard Milsom
Mobile: 021 274 2476
Email: richard@nzrlm.co.nz
Christopher Swasbrook
Mobile: 021 928 262
Email: chris@nzrlc.co.nz
or