Infratil Limited (“IFT”) – 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, 17 June 2024
Subject
: Infratil Limited (“IFT”) – Trading Halt of Securities


Message
:

NZ RegCo has approved a trading halt application from Infratil Limited (“IFT”). Trading in IFT’s
ordinary shares on the NZX Main Board, and all IFT securities quoted on the NZX Debt Market,
will be halted pre-market open today.

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

---

1
REQUEST FOR TRADING HALT: INFRATIL LIMITED (NZX: IFT, ASX: IFT)
Infratil Limited (NZX/ASX: IFT) (IFT) requests that a trading halt be applied to IFT’s
ordinary shares (ISIN NZIFTE0003S3) and (in respect of NZX) its quoted bonds (being
IFT230, IFT250, IFT260, IFT270, IFT280, IFT300, IFT 310, IFT320, IFT330, IFT340, IFTHA
and IFTHC) under NZX Listing Rule 9.9.1 and ASX Listing Rule 17.1 and set out below the
details of the request as per the rules of each of NZX and ASX.
We would like the trading halt to commence from the open of trading on the NZX for
quoted debt securities at 9am (NZST) (NZX Debt Market Open) on 17 June 2024 and be
lifted at the earlier of NZX Debt Market Open on 18 June 2024 or an announcement
regarding the outcome of the Placement discussed below (which IFT expects to be able to
do before NZX Debt Market Open on 18 June 2024) (Trading Halt).
Reasons for trading halt
IFT is proposing to raise approximately NZ$1.15 billion of new capital by way of a
placement to selected investors of NZ$1,000 million (Placement) to be conducted by UBS
New Zealand Limited, Barrenjoey Markets Pty Limited and Goldman Sachs Australia Pty Ltd
(together, the Joint Lead Managers), and a retail share offer to IFT’s eligible existing
shareholders of approximately NZ$150 million (subject to the ability for IFT to scale
applications or accept oversubscriptions at its complete discretion) (Retail Offer). The
Placement is fully underwritten by the Joint Lead Managers, other than in respect of pre-
committed pro rata participation in the Placement by interests associated with IFT’s
manager, Morrison, and related parties.
IFT advises the following information in support of this request for the Trading Halt:
1 IFT considers that the Trading Halt is desirable to enable the Joint Lead Managers
and IFT to conduct the Placement and determine the allocation of shares. IFT
considers that, but for the Trading Halt, the Placement process would impact a fair,
orderly or transparent market as information about the Placement 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.
17 June 2024
NZX Regulation Limited (NZ RegCo)
Level 1, NZX Centre
11 Cable Street
Wellington, 6011
New Zealand
issuer@nzregco.com
by email


ASX Limited
20 Bridge Street
Sydney
New South Wales 2000
Australia

tradinghaltsNZ@asx.com.au
DocuSign Envelope ID: C0C7498B-7770-4F5D-9C0B-071FD655A4C9

2
2 As soon as the Trading Halt is applied, IFT expects to be in a position to announce to
the market that the Placement is occurring and is proposed to be followed by the
Retail Offer.
3 As soon as the Placement and the allocation of shares is completed, IFT will be in a
position to release details of the results of the Placement to the market. IFT
believes that such information will be price sensitive.
4 The Joint Lead Managers are subject to confidentiality obligations.
How long we want the trading halt to last
We would like the Trading Halt to last one trading day until NZX Debt Market Open on 18
June 2024 or any earlier announcement regarding the outcome of the Placement on the
NZX.
The event 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 on the NZX and the ASX. We expect this to occur before NZX Debt Market
Open on 18 June 2024. We confirm that we are not aware of any reason why the Trading
Halt should not be granted or of any other information necessary to inform the market
about the Trading Halt.
Please contact me if you have any concerns or queries. Alternatively, you can contact Josh
Blackmore at Chapman Tripp (+64 21 828 814 / josh.blackmore@chapmantripp.com).
Yours faithfully


Andrew Carroll
Chief Financial Officer
Infratil Limited

DocuSign Envelope ID: C0C7498B-7770-4F5D-9C0B-071FD655A4C9