Arvida Group Limited — Share Issue/Capital Change 2018

Apr 21, 2018

P +64 9 972 1180 E info@arvida.co.nz

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20 April 2018

Client Market Services NZX Limited Level 1, NZX Centre 11 Cable Street Wellington

Unit F, Level 1, 39 Market Place, Auckland 1010, PO Box 90217 Victoria Street West Auckland 1142 New Zealand

www. arvida .co.nz

NOTIFICATION OF ALLOTMENT OF SECURITIES

For the purposes of NZX Main Board Listing Rules 7.12.1 and 7.12.9, Arvida Group Limited (NZX: ARV) advises the following securities have been issued / converted on 20 April 2018 pursuant to the Arvida Group Limited Long Term Incentive Plan (the LTI Plan ).

		aClass of securityOrdinary sharesISINNZARVE0001S5bNumber issued209,315cNominal valueN/AIssue PriceNZ$1.19 per sharedPayment termsIssued on vesting of 209,315 performance share rights underthe LTI Plan for no cash consideration. The performance rightswere subject to a vesting period of 3 years from 1 April 2015 to31 March 2018. Vesting was subject to the satisfaction of atotal shareholder return hurdle, split 50% to an NZ50performance ranking hurdle and 50% to a peer group rankinghurdle. Upon vesting, each performance share right can beconverted into one ordinary share in Arvida Group Limited onexercise for no cash payment. Further details of the LTI Planare included within Arvida’s annual report.eAmount paid upFully paid ordinary sharesfPrincipal termsThe shares have identical rights, privileges, limitations andconditions as, and rank equally over, the existing ordinaryshares on issue in Arvida Group Limited.gPercentage of class of securities0.05% (post allotment)	aClass of securityOrdinary sharesISINNZARVE0001S5bNumber issued209,315cNominal valueN/AIssue PriceNZ$1.19 per sharedPayment termsIssued on vesting of 209,315 performance share rights underthe LTI Plan for no cash consideration. The performance rightswere subject to a vesting period of 3 years from 1 April 2015 to31 March 2018. Vesting was subject to the satisfaction of atotal shareholder return hurdle, split 50% to an NZ50performance ranking hurdle and 50% to a peer group rankinghurdle. Upon vesting, each performance share right can beconverted into one ordinary share in Arvida Group Limited onexercise for no cash payment. Further details of the LTI Planare included within Arvida’s annual report.eAmount paid upFully paid ordinary sharesfPrincipal termsThe shares have identical rights, privileges, limitations andconditions as, and rank equally over, the existing ordinaryshares on issue in Arvida Group Limited.gPercentage of class of securities0.05% (post allotment)	aClass of securityOrdinary sharesISINNZARVE0001S5bNumber issued209,315cNominal valueN/AIssue PriceNZ$1.19 per sharedPayment termsIssued on vesting of 209,315 performance share rights underthe LTI Plan for no cash consideration. The performance rightswere subject to a vesting period of 3 years from 1 April 2015 to31 March 2018. Vesting was subject to the satisfaction of atotal shareholder return hurdle, split 50% to an NZ50performance ranking hurdle and 50% to a peer group rankinghurdle. Upon vesting, each performance share right can beconverted into one ordinary share in Arvida Group Limited onexercise for no cash payment. Further details of the LTI Planare included within Arvida’s annual report.eAmount paid upFully paid ordinary sharesfPrincipal termsThe shares have identical rights, privileges, limitations andconditions as, and rank equally over, the existing ordinaryshares on issue in Arvida Group Limited.gPercentage of class of securities0.05% (post allotment)	aClass of securityOrdinary sharesISINNZARVE0001S5bNumber issued209,315cNominal valueN/AIssue PriceNZ$1.19 per sharedPayment termsIssued on vesting of 209,315 performance share rights underthe LTI Plan for no cash consideration. The performance rightswere subject to a vesting period of 3 years from 1 April 2015 to31 March 2018. Vesting was subject to the satisfaction of atotal shareholder return hurdle, split 50% to an NZ50performance ranking hurdle and 50% to a peer group rankinghurdle. Upon vesting, each performance share right can beconverted into one ordinary share in Arvida Group Limited onexercise for no cash payment. Further details of the LTI Planare included within Arvida’s annual report.eAmount paid upFully paid ordinary sharesfPrincipal termsThe shares have identical rights, privileges, limitations andconditions as, and rank equally over, the existing ordinaryshares on issue in Arvida Group Limited.gPercentage of class of securities0.05% (post allotment)	aClass of securityOrdinary sharesISINNZARVE0001S5bNumber issued209,315cNominal valueN/AIssue PriceNZ$1.19 per sharedPayment termsIssued on vesting of 209,315 performance share rights underthe LTI Plan for no cash consideration. The performance rightswere subject to a vesting period of 3 years from 1 April 2015 to31 March 2018. Vesting was subject to the satisfaction of atotal shareholder return hurdle, split 50% to an NZ50performance ranking hurdle and 50% to a peer group rankinghurdle. Upon vesting, each performance share right can beconverted into one ordinary share in Arvida Group Limited onexercise for no cash payment. Further details of the LTI Planare included within Arvida’s annual report.eAmount paid upFully paid ordinary sharesfPrincipal termsThe shares have identical rights, privileges, limitations andconditions as, and rank equally over, the existing ordinaryshares on issue in Arvida Group Limited.gPercentage of class of securities0.05% (post allotment)	aClass of securityOrdinary sharesISINNZARVE0001S5bNumber issued209,315cNominal valueN/AIssue PriceNZ$1.19 per sharedPayment termsIssued on vesting of 209,315 performance share rights underthe LTI Plan for no cash consideration. The performance rightswere subject to a vesting period of 3 years from 1 April 2015 to31 March 2018. Vesting was subject to the satisfaction of atotal shareholder return hurdle, split 50% to an NZ50performance ranking hurdle and 50% to a peer group rankinghurdle. Upon vesting, each performance share right can beconverted into one ordinary share in Arvida Group Limited onexercise for no cash payment. Further details of the LTI Planare included within Arvida’s annual report.eAmount paid upFully paid ordinary sharesfPrincipal termsThe shares have identical rights, privileges, limitations andconditions as, and rank equally over, the existing ordinaryshares on issue in Arvida Group Limited.gPercentage of class of securities0.05% (post allotment)	aClass of securityOrdinary sharesISINNZARVE0001S5bNumber issued209,315cNominal valueN/AIssue PriceNZ$1.19 per sharedPayment termsIssued on vesting of 209,315 performance share rights underthe LTI Plan for no cash consideration. The performance rightswere subject to a vesting period of 3 years from 1 April 2015 to31 March 2018. Vesting was subject to the satisfaction of atotal shareholder return hurdle, split 50% to an NZ50performance ranking hurdle and 50% to a peer group rankinghurdle. Upon vesting, each performance share right can beconverted into one ordinary share in Arvida Group Limited onexercise for no cash payment. Further details of the LTI Planare included within Arvida’s annual report.eAmount paid upFully paid ordinary sharesfPrincipal termsThe shares have identical rights, privileges, limitations andconditions as, and rank equally over, the existing ordinaryshares on issue in Arvida Group Limited.gPercentage of class of securities0.05% (post allotment)	aClass of securityOrdinary sharesISINNZARVE0001S5bNumber issued209,315cNominal valueN/AIssue PriceNZ$1.19 per sharedPayment termsIssued on vesting of 209,315 performance share rights underthe LTI Plan for no cash consideration. The performance rightswere subject to a vesting period of 3 years from 1 April 2015 to31 March 2018. Vesting was subject to the satisfaction of atotal shareholder return hurdle, split 50% to an NZ50performance ranking hurdle and 50% to a peer group rankinghurdle. Upon vesting, each performance share right can beconverted into one ordinary share in Arvida Group Limited onexercise for no cash payment. Further details of the LTI Planare included within Arvida’s annual report.eAmount paid upFully paid ordinary sharesfPrincipal termsThe shares have identical rights, privileges, limitations andconditions as, and rank equally over, the existing ordinaryshares on issue in Arvida Group Limited.gPercentage of class of securities0.05% (post allotment)	aClass of securityOrdinary sharesISINNZARVE0001S5bNumber issued209,315cNominal valueN/AIssue PriceNZ$1.19 per sharedPayment termsIssued on vesting of 209,315 performance share rights underthe LTI Plan for no cash consideration. The performance rightswere subject to a vesting period of 3 years from 1 April 2015 to31 March 2018. Vesting was subject to the satisfaction of atotal shareholder return hurdle, split 50% to an NZ50performance ranking hurdle and 50% to a peer group rankinghurdle. Upon vesting, each performance share right can beconverted into one ordinary share in Arvida Group Limited onexercise for no cash payment. Further details of the LTI Planare included within Arvida’s annual report.eAmount paid upFully paid ordinary sharesfPrincipal termsThe shares have identical rights, privileges, limitations andconditions as, and rank equally over, the existing ordinaryshares on issue in Arvida Group Limited.gPercentage of class of securities0.05% (post allotment)	aClass of securityOrdinary sharesISINNZARVE0001S5bNumber issued209,315cNominal valueN/AIssue PriceNZ$1.19 per sharedPayment termsIssued on vesting of 209,315 performance share rights underthe LTI Plan for no cash consideration. The performance rightswere subject to a vesting period of 3 years from 1 April 2015 to31 March 2018. Vesting was subject to the satisfaction of atotal shareholder return hurdle, split 50% to an NZ50performance ranking hurdle and 50% to a peer group rankinghurdle. Upon vesting, each performance share right can beconverted into one ordinary share in Arvida Group Limited onexercise for no cash payment. Further details of the LTI Planare included within Arvida’s annual report.eAmount paid upFully paid ordinary sharesfPrincipal termsThe shares have identical rights, privileges, limitations andconditions as, and rank equally over, the existing ordinaryshares on issue in Arvida Group Limited.gPercentage of class of securities0.05% (post allotment)	aClass of securityOrdinary sharesISINNZARVE0001S5bNumber issued209,315cNominal valueN/AIssue PriceNZ$1.19 per sharedPayment termsIssued on vesting of 209,315 performance share rights underthe LTI Plan for no cash consideration. The performance rightswere subject to a vesting period of 3 years from 1 April 2015 to31 March 2018. Vesting was subject to the satisfaction of atotal shareholder return hurdle, split 50% to an NZ50performance ranking hurdle and 50% to a peer group rankinghurdle. Upon vesting, each performance share right can beconverted into one ordinary share in Arvida Group Limited onexercise for no cash payment. Further details of the LTI Planare included within Arvida’s annual report.eAmount paid upFully paid ordinary sharesfPrincipal termsThe shares have identical rights, privileges, limitations andconditions as, and rank equally over, the existing ordinaryshares on issue in Arvida Group Limited.gPercentage of class of securities0.05% (post allotment)
		hi	Reason for isAuthority for	sueissue		Vesting o(see detaBoard res	f 209,315 perils in item d aolution dated	ormance share rigbove).27 September 201	ts under the7	LTI Plan
		jk	Terms of issuNumber of s	eecurities	in	Listed orordinary413,949,	inary shares rshares on issu842	anking equally wite in Arvida Group L	the existingimited.
	lm	lm	existence aftTreasury stoDate of issue	er issueck		N/A20 April 2	018

There are no interest or dividend conditions attaching to the 209,315 ordinary shares issued on vesting of the performance share rights as detailed above.

In addition to the vesting of 209,315 performance share rights as detailed above, a further 94,855 performance share rights under the LTI Plan have been cancelled as at 20 April 2018. Arvida Group Limited now has 2,587,372 unlisted performance share rights (with varying exercise prices and expiry dates) on issue.

Yours faithfully, Arvida Group Limited

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Jeremy Nicoll Chief Financial Officer