Issue of Performance Fee Shares

The Blade, Level 4, 12 St Marks Road, Remuera, Auckland, 1050, New Zealand | +64 9 379 6493
www.nzrlc.co.nz
2 September 2022
Issue of Performance Fee Shares
New Zealand Rural Land Company (NZL.NZX) confirms today it has issued 2,499,747 fully paid ordinary shares to satisfy the
Performance Fee for FY22 at an issue price of NZ$ 1.6462.
Total number of shares on issue is now 115,601,570. An NZX capital change notice is attached to this announcement.
Rob Campbell
Independent Chair
For further information please contact:
Christopher Swasbrook
Mobile: 021 928 262
Email: chris@nzrlc.co.nz
or
Richard Milsom
Mobile: 021 274 2476
Email: richard@nzrlm.co.nz

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Capital Change Notice

Updated as at 17 October 2019

15261165_1


Section 1: Issuer information
Name of issuer New Zealand Rural Land
Company Limited
NZX ticker code NZL
Class of financial product Ordinary shares
ISIN (If unknown, check on NZX website) NZNZLE0001S2
Currency NZD
Section 2: Capital change details
Number issued 2,499,747
Nominal value (if any) N/A
Issue price per security $1.6462
Nature of the payment (for example, cash or other
consideration)
Consideration for services
provided under Management
Agreement – Performance Fee
Amount paid up (if not in full) Fully paid.
Percentage of total class of Financial Products issued
(calculated on the number of Financial Products of the Class,
excluding any Treasury Stock, in existence)
1

2.21%
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 issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
To satisfy the Performance
Fee payable under a
Management Agreement with
New Zealand Rural Land
Management Limited
Partnership for the period
ending 30 June 2022
Total number of Financial Products of the Class after the issue
(excluding Treasury Stock) and the total number of Financial
Products of the Class held as Treasury Stock after the
issue/acquisition/redemption.
115,601,570
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 resolution and Listing
Rule 4.4.1(a).

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

Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
50% of the shares issued are
subject to trading restrictions
for a period of 5 years
pursuant to a Restricted
Security Deed
Date of issue 2 September 2022
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Christopher Swasbrook
Contact person for this announcement Christopher Swasbrook
Contact phone number 021 928 262
Contact email address chris@nzrlc.co.nz
Date of release through MAP

2 September 2022