Capital change notices – share rights plan

Kiwi Property Group Limited
Capital Change Notice



Section 1: Issuer information
Name of issuer Kiwi Property Group Limited
NZX ticker code KPG
Class of financial product Unlisted Performance Share
Rights
ISIN NZKPGE001S9
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 2,882,843 issued
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security No cash consideration is
payable
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
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

113.79% of all existing
Performance Share Rights
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)
See terms of the issue below.
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Performance Share Rights
issued pursuant to the Kiwi
Property Group Limited Share
Rights Plan.
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.
5,416,308 unlisted
Performance Share Rights.
5,416,308 Ordinary Shares if
all Performance Share Rights
vest or are exercised.
There is no treasury stock.
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Authorised by board
resolutions dated 19 May 2023
and listing rule 4.14.1

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)
The Performance Share Rights
(PSRs) comprise tranche A
and tranche B.
Tranche A have a one-year
vesting period of 1 April 2023
to 31 March 2024.
Tranche B have a three-year
vesting period of 1 April 2023
to 31 March 2026.
Vesting of each tranche of
PSRs is subject to the
satisfaction of hurdles.
Upon vesting, each PSR can
be converted into one Ordinary
Share in Kiwi Property on
exercise for no cash payment.
The PSRs cannot be
transferred.
Date of issue/acquisition/redemption
2
29 June 2023
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Steve Penney
Contact person for this announcement Steve Penney
Contact phone number +64 9 359 4025
Contact email address steve.penney@kp.co.nz
Date of release through MAP

30 June 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).

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Kiwi Property Group Limited
Capital Change Notice



Section 1: Issuer information
Name of issuer Kiwi Property Group Limited
NZX ticker code KPG
Class of financial product Unlisted Restricted Share
Rights
ISIN NZKPGE001S9
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 184,482 issued
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security No cash consideration is
payable
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
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

78.96% of all existing
Restricted Share Rights

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)
See terms of the issue below
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Restricted Share Rights issued
pursuant to the Kiwi Property
Group Limited Share Rights
Plan.
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.
418,118 unlisted Restricted
Share Rights.
418,118 Ordinary Shares if all
Restricted Share Rights vest or
are exercised.
There is no treasury stock.
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Authorised by board
resolutions dated 19 May 2023
and listing rule 4.14.1

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)
The Restricted Share Rights
are subject to a three-year
vesting period from 1 April
2023 (“Vesting Period”).
The number of Restricted
Share Rights are determined
for each participant by dividing
the initial value of the grant by
the volume weighted average
price of Kiwi Property’s shares
traded on the NZX Main Board
over the 10 trading days
immediately preceding the
Vesting Period.
Vesting is subject to the
participant continuing their
employment with Kiwi Property
or a related company of Kiwi
Property for the duration of the
Vesting Period.
Upon vesting, each Restricted
Share Right can be converted
into one Ordinary Share in Kiwi
Property on exercise for no
cash payment.
The Restricted Share Rights
cannot be transferred.
Date of issue/acquisition/redemption
2
29 June 2023
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Steve Penney
Contact person for this announcement Steve Penney
Contact phone number +64 9 359 4025
Contact email address steve.penney@kp.co.nz
Date of release through MAP

30 June 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).