Accordant Group Limited — Share Issue/Capital Change 2021

Mar 26, 2021

Template Capital Change Notice

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Updated as at 17 October 2019

Section 1: Issuer information
Name of issuer	Accordant Group Limited
NZX ticker code	AGL
Class of financial product	Restricted Shares
ISIN (If unknown, check on NZX website)	NZAWFE0001S8
Currency	NZ Dollars
Section 2: Capital change details
Number issued/acquired/redeemed	21,000 “F” Restricted shares; 6,000 “G” Restricted shares; and 9,000 “H” Restricted shares
Nominal value (if any)	Unallocated
Issue/acquisition/redemption price per security	21,000 “F” shares $2.57; 6,000 “G” at $1.90; 9,000 “H” shares at $1.90
Nature of the payment (for example, cash or other consideration)	Redemption
Amount paid up (if not in full)	$Nil
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	17.07% of “F” Restricted shares; and 3.49% of “G” Restricted shares; and 3.24% of “H” Restricted shares
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)	Restricted “F”, “G” and “H” shares are restricted and are unable to be traded until reclassified as ordinary shares on the relevant "Qualification Date" (subject to the holder remaining employed with Accordant and the repayment of any loans made by Accordant to the holder in respect of the shares). Restricted “F”, “G” and “H” shares rank_pari passu_ with existing ordinary shares in respect of rights to dividends and other distributions and voting right
Reason for issue/acquisition/redemption and specific authority for issue/acquisition/redemption/ (the reason for change must be identified here)	Under the Rules of the Restricted share schemes the Restricted shares must either

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

	be Converted (or Redeemed) by 1 January 2023 (“F”), 1 July 2022 (G”); and 1 January 2025 (“H”) respectively.
Total number of Financial Products of the Class after the redemption (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue/acquisition/redemption.	102,000 “F”, 166,000 “G”; and 269,000 “H” Restricted shares
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	Directors’ circular Resolution 11 March 2021 Rule 3.13.1
Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements)	The aggregate redemption price is to be applied by Accordant in full repayment of the loan made by Accordant to the holder in respect of the Restricted “F”, “G” and“H”shares.
Date of redemption2	26 March 2021
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement	Tony Staub
Contact person for this announcement	Tony Staub
Contact phone number	+64 9 526 8797
Contact email address	tony.staub@accordant.nz
Date of release through MAP	26 March 2021

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).