Capital Change Notice – Share Buyback

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 acquired 52,676
Nominal value (if any) N/A
Acquisition price per security $0.84
Nature of the payment (for example, cash or other
consideration)
Cash
Amount paid up (if not in full) Paid in full
Percentage of total class of Financial Products acquired
(calculated on the number of Financial Products of the Class,
excluding any Treasury Stock, in existence)
1

0.04%

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 acquisition and specific authority for acquisition
(the reason for change must be identified here)
Acquisition under Board
approved On-Market Share
Buy-Back Programme
announced to the market on
26 May 2023.
Total number of Financial Products of the Class after the
acquisition (excluding Treasury Stock) and the total number of
Financial Products of the Class held as Treasury Stock after
the acquisition.
139,547,324 ordinary shares in
NZL (Shares).
No Shares held as Treasury
Stock.
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
No
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 4.14.1(a)
Terms or details of the acquisition (for example: restrictions,
escrow arrangements)
The total number of Shares
that may be bought back shall
not exceed 5,350,000 Shares.
Shares will only be acquired if

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

the acquisition price represents
90% or less of NZL’s prevailing
net asset value per share.
Shares will be cancelled upon
acquisition and the number of
shares on issue in NZL will
reduce accordingly.
Further terms outlined in NZL’s
Capital Management Policy.
Date of acquisition
2
14/09/2023
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

13/09/2023





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).