Capital Change Notice – Shares

Template
Capital Change Notice

Updated as at 17 October 2019



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/acquired/redeemed 299,844
Nominal value (if any) N/A
Issue/acquisition/redemption price per security $1.6507
Nature of the payment (for example, cash or other
consideration)
Non-cash consideration in the
form of management,
investment and administrative
services provided by New
Zealand Rural Land
Management Limited
Partnership (NZRLM) in
accordance with the
management agreement
between NZRLM and NZL
dated 13 November 2021
(Management Agreement).
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

0.216%
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)
The ordinary shares in NZL
were issued in accordance
with the annual performance
fee terms under the
Management Agreement.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding Treasury
139,277,398

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

Stock) and the total number of Financial Products of the Class
held as Treasury Stock after the issue/acquisition/redemption.
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
NZX Listing Rule 4.7.1 and the
Management Agreement
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
N/A
Date of issue/acquisition/redemption
2
29/03/2023
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

29/03/2023




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).