HGH and HBL – Trading Halt of Securities

NZX Limited
Level 2, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com

Memorandum

To:
Market Participants
From:
NZ RegCo
Date:
Monday, 8 April 2024
Subject
: Heartland Group Holdings Limited (“HGH”) and Heartland Bank Limited (“HBL”) –
Trading Halt of Securities


Message
:

NZ RegCo has approved a trading halt application from Heartland Group Holdings Limited
(“HGH”). Trading in HGH’s ordinary shares and its subsidiary HBL’s quoted notes (“HBL1T2”)
will be halted pre-market open today. Further to the announcement released on 20 March 2024,
HBL’s quoted 3.55% fixed rate bonds (“HBL020”) are already suspended pending the maturity
of those bonds.

Attached is the trading halt application, for further information.

Please contact NZX Product Operations on +64 4 496 2853 or productoperations@nzx.com
with any queries.

ENDS

---

Heartland Group Holdings Limited | NZX/ASX: HGH | PO Box 9919, Newmarket, Auckland 1149 | heartlandgroup.info
8 April 2024
To: ASX Limited
20 Bridge St
Sydney NSW 2000
Australia
TradingHaltsNZ@asx.com.au
NZ RegCo
11 Cable St
Wellington
New Zealand
issuer@nzregco.com
REQUEST FOR TRADING HALT: HEARTLAND GROUP HOLDINGS LIMITED (ASX: HGH,
NZX: HGH)
We request a trading halt to be applied to Heartland Group Holdings Limited’s (Heartland) ordinary shares
(ISIN: NZHGHE0007S9) and Heartland Bank Limited’s quoted notes (ISIN: NZHBLD01T2L8 – noting
Heartland Bank Limited’s quoted notes with ISIN NZHBLD0020L2 are suspended pending maturity of those
notes) under ASX Listing Rule 17.1 and NZX Listing Rule 9.9.1(a) and set out below the details of the request
as per the rules of each of ASX and NZX.
We would like the trading halt to commence from the commencement of trading on Monday 8 April 2024 and
be lifted at the opening of trading on the ASX on Tuesday 9 April 2024 or, for NZX, on any earlier
announcement regarding the outcome of the capital raising discussed below.
Reasons for Trading Halt:
Heartland is proposing to raise NZ$210 million of new capital by way of an NZ$105 million placement
(Placement) to be conducted by Jarden Securities Limited (Lead Manager), together with an NZ$105
million accelerated non-renounceable entitlement offer (ANREO). The Placement and ANREO are intended
to be fully underwritten by Jarden Partners Limited (together with the Lead Manager, Jarden), with the
exception of a pre-commitment from Heartland’s largest shareholder, Harrogate Trustee Limited, for
approximately $14 million of the equity raise.
Heartland co
nsiders that a trading halt is desirable to enable Jarden and Heartland to conduct the Placement
and the institutional entitlement offer component of the ANREO and determine the allocation of shares.
Heartland considers that, but for the trading halt, the Placement and the institutional entitlement offer
component of the ANREO process would impact a fair, orderly or transparent market as information about the
Placement, the institutional entitlement offer component of the ANREO or take up by investors may be known
by some market participants and not others, so the market would not be trading on a fully informed basis.
As soon as the Placement and institutional entitlement offer component of the ANREO and the allocation of
shares is completed, Heartland will be in a position to release details of the results of the Placement and
institutional entitlement offer component of the ANREO to the market. Heartland believes that such
information will be price sensitive.
How long we want the trading halt to last:
We would like the trading halt to last one trading day on the ASX, and until the opening of trading on the ASX
or any earlier announcement regarding the outcome of the capital raising on the NZX.
The e
vent we expect to happen that will end the trading halt:
We expect the trading halt to end once we are in a position to announce the outcome of the Placement and
institutional entitlement offer component of the ANREO. We expect this to occur before market open on the
ASX on Tuesday 9 April 2024, but potentially after the market has opened on the NZX.
We confirm that we are not aware of any reason why the trading halt should not be granted.
Please contact me if you have any concerns or queries. Alternatively, you can contact Philip Ascroft at
Chapman Tripp (+64 21 127 8210 / philip.ascroft@chapmantripp.com).
Yours sincerely
Phoebe Gibbons
General Counsel
Heartland Group Holdings Limited
Heartland Bank Limited