Capital Change Notice – Unquoted Share Rights

Capital Change Notice




Section 1: Issuer information
Name of issuer Precinct Properties New Zealand Limited
NZX ticker code PCT
Class of financial product Unquoted Share Rights (the Share Rights)
ISIN (If unknown, check on NZX website) N/A
Currency NZ$
Section 2: Capital change details
Number issued/acquired/redeemed 1,784,857 Share Rights
Nominal value (if any) N/A
Issue/acquisition/redemption price per security The Share Rights are issued for nil
consideration
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

100%
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)
The Share Rights convert on a 1:1 basis for nil
consideration into fully paid ordinary shares
provided that participants remain employed
during a vesting period ending on 31 March
2027.
The Share Rights rank behind Precinct’s
ordinary shares, are non-transferable, cannot
be encumbered, and have no voting or other
share rights. The Share Rights are otherwise
subject to the terms of individual award
agreements and the rules of the Precinct 2023
Retention Share Scheme including that the
Share Rights lapse at the Board’s discretion in
the event of a material breach of the
participant’s employment obligations, fraud or
dishonesty.
Shares will be issued on the first trading day
after vesting of the relevant Share Right.
Reason for issue/acquisition/redemption and
specific authority for
issue/acquisition/redemption/ (the reason for
change must be identified here)
Issue of Share Rights under Precinct’s 2023
Retention Share Scheme to align employees’
and shareholders’ interests, promote retention
and facilitate and encourage employee share
ownership.
Total number of Financial Products of the
Class after the
1,784,857 Share Rights

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

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.
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
Resolution of the Board and Listing Rules
4.6.1 and 4.9.1(b).
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
No cash consideration is payable by the
participants on the grant of Share Rights or on
the issue of fully paid ordinary shares following
vesting of Share Rights. As noted above,
vesting of Share Rights is subject to continued
employment.
Date of issue/acquisition/redemption
2
20 April 2023
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Louise Rooney (General Counsel and
Company Secretary)

Contact person for this announcement
Louise Rooney (General Counsel and
Company Secretary)

Contact phone number +64 21 294 3189
Contact email address Louise.Rooney@precinct.co.nz
Date of release through MAP

21 April 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).