Capital Change Notice

Template
Capital Change Notice

Updated as at 17 October 2019


Section 1: Issuer information
Name of issuer Turners Automotive Group Limited
NZX ticker code TRA
Class of financial product Unlisted options convertible to fully
paid ordinary shares in the Turners
Automotive Group Limited
ISIN (If unknown, check on NZX website) NZVNLE0001S1
Currency NZD
Section 2: Capital change details
Number redeemed 1,390,000
Nominal value (if any) n/a
Redemption price per security $nil
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

56.97%
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)
n/a
Reason for redemption/ (the reason for change must be identified
here)
Out of the money options under the
executive share option scheme
redeemed to simplify the capital
structure
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.
1,050,000
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
Board resolutions dated 31 August
2022
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
Cancelled
Date of issue/acquisition/redemption
2
31/08/2022

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

Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Barbara Badish
Contact person for this announcement Todd Hunter
Contact phone number 021 722 818
Contact email address Todd.Hunter@turners.co.nz
Date of release through MAP

31/08/2022