Heartland $130 million placement fully subscribed

Not for release to US wire services or distribution in the United States.
Heartland Group Holdings Limited | NZX/ASX: HGH | PO Box 9919, Newmarket, Auckland 1149 | shareholders.heartland.co.nz
NZX/ASX release
24 August 2022

Heartland’s $130 million placement fully subscribed

Heartland Group Holdings Limited (NZX/ASX:HGH) (Heartland) is pleased to announce that it has
successfully completed the bookbuild for the fully underwritten NZ$130 million placement
(Placement) of the NZ$200 million equity raising announced on 23 August 2022. The Placement was
strongly supported by existing institutional and retail shareholders and also attracted significant bids
from other institutional and retail investors who Heartland welcomes as shareholders.

The Placement was fully subscribed at the fixed price of NZ$1.80 per share. This price represents a
discount of 12.8% to the ex-dividend adjusted last close price of NZ$2.0650 per share on 22 August
2022, and a discount of 13.7% to the 5-day volume weighted average ex-dividend adjusted price
(VWAP) of NZ$2.0851 (up to and including 22 August 2022).

Heartland undertook the Placement with the key objective of treating existing shareholders in
eligible jurisdictions fairly. All existing eligible shareholders who bid for their pro-rata allocation of
the Placement were allocated at least that amount of new shares.

Settlement of the Placement is expected to occur on 26 August 2022 for the ASX and on 29 August
2022 for the NZX, with the allotment of all shares and the commencement of trading on the NZX and
ASX expected to occur on 29 August 2022. The new shares to be issued under the Placement will
rank equally in all respects with Heartland’s existing ordinary shares on issue, but will not be eligible
for the FY2022 final dividend with a record date of 26 August 2022, and will not entitle the investor
to participate in the SPP which had a record date of 22 August 2022.

As announced on 23 August 2022, Heartland is also undertaking a non-underwritten NZ$70 million
share purchase plan (SPP), with the ability for Heartland to accept oversubscriptions at its discretion.
A SPP offer document will be sent to eligible shareholders on 25 August 2022 and will also be
available at www.heartlandshareoffer.co.nz from that date. All eligible shareholders are encouraged
to visit that website and apply online.

Key dates for the SPP are set out below.

Key SPP dates
1


Record Date 7.00pm NZST/5.00pm AEST
Monday 22 August 2022
Expected dispatch of SPP offer document Thursday 25 August 2022
SPP opens Thursday 25 August 2022
SPP closes 7.00pm NZST/5.00pm AEST
Monday 5 September 2022
Announcement of results of SPP Thursday 8 September 2022
Settlement and allotment of shares issued under the SPP offer Friday 9 September 2022
Trading of SPP shares commences on NZX Friday 9 September 2022
Trading of SPP shares commences on ASX Monday 12 September 2022

1 The timetable presented is indicative only and subject to change without notice (subject to applicable laws and
the NZX Listing Rules and ASX Listing Rules). All dates and times are New Zealand times (unless stated
otherwise).

Heartland Group Holdings Limited | 0800 85 20 20 | PO Box 9919, Newmarket, Auckland 1149 | shareholders.heartland.co.nz
2


– ENDS –

For further information, please contact the person(s) who authorised this announcement:

Jeff Greenslade Andrew Dixson
Chief Executive Officer Chief Financial Officer
M 027 382 0023 M 021 263 2666

Address:
Level 3, Heartland House
35 Teed Street
Newmarket, Auckland
New Zealand

For media enquiries, please contact:
Nicola Foley
Group Head of Communications
M 027 345 6809
E nicola.foley@heartland.co.nz

Currency
Unless otherwise stated, all references to “$” are to the New Zealand dollar.

Not an offer of securities
This announcement has been prepared for publication in New Zealand and Australia and may not be
released to US wire services or distributed in the United States. This announcement does not
constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any
other jurisdiction. Any securities described in this announcement have not been, and will not be,
registered under the US Securities Act of 1933 and may not be offered or sold in the United States
except in transactions exempt from, or not subject to, the registration requirements of the US
Securities Act and applicable US state securities laws.