Asset Plus Limited — Share Issue/Capital Change 2020

Sep 16, 2020

Capital Change Notice

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Section 1: Issuer information
Name of issuer	Asset Plus limited
NZX ticker code	APL
Class of financial product	Ordinary shares
ISIN (If unknown, check on NZX website)	NZNAPE0007S3
Currency	NZD
Section 2: Capital change details
Number issued/acquired/redeemed	95,568,552 ordinary shares, being: • 40,480,108 ordinary shares issued under the placement announced to NZX on 10 September 2020; and • 55,088,444 ordinary shares issued under the institutional component of the accelerated non-renounceable entitlement offer announced to NZX on 10 September 2020.
Nominal value (if any)	N/A
Issue/acquisition/redemption price per security	$0.30 per ordinary share
Nature of the payment (for example, cash or other consideration)	Cash
Amount paid up (if not in full)	Fully paid
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)	59.02%
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

Capital Change Notice (Placement and Institutional Offer)

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Reason for issue/acquisition/redemption and specific authority for issue/acquisition/redemption/ (the reason for change must be identified here)	Issue of ordinary shares under the placement and the institutional component of the accelerated non-renounceable entitlement offer (Institutional Offer) announced to NZX on 10 September 2020, authorised by Board resolution dated 9 September 2020. 17,000,000 new ordinary shares have also been allocated (but not yet settled or allotted) to Augusta Capital Limited under the Institutional Offer, with settlement and allotment expected to occur on 2/10/20. The settlement and allotment of these shares is expected to occur upon settlement and allotment of the retail component of the entitlement offer. This deferred allotment is to ensure that Augusta Capital Limited maintains a less than 20% shareholding in Asset Plus Limited in order to preserve Asset Plus Limited’s PIE status. 2,000,000 new ordinary shares have also been allocated (but not yet settled or allotted) to Salt Funds Management Limited under the Institutional Offer, with settlement and allotment expected to occur on 2/10/20. The settlement and allotment of these shares is expected to occur upon settlement and allotment of the retail component of the entitlement offer. This deferred allotment is to ensure that Salt Funds Management maintains a less than 20% shareholding in Asset Plus Limited in order to preserve Asset Plus Limited’s PIE status.
Total number of Financial Products of the Class after the issue/acquisition/redemption/Conversion (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue/acquisition/redemption.	257,488,985 ordinary shares
In the case of an acquisition of shares, whether those shares are to be held as treasury stock	Not applicable
Specific authority for the issue, acquisition, or redemption, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made	Resolution of Directors on 9 September 2020. The placement is made pursuant to NZX Listing Rule 4.5.1 (as modified by a class waiver granted by NZX Regulation on 19 March 2020). The accelerated non-renounceable entitlement offer is being conducted in accordance with the class waiver from NZX Listing Rule 4.1.1 in relation to ANREOs granted by NZX Regulation on 26 March 2020.
Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements)	Issue of ordinary shares which rank equally with all other fully paid ordinary shares in Asset Plus Limited
Date of issue/acquisition/redemption	16/09/2020

Capital Change Notice

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Section 3: Authority for this announcement and contact person	Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement	Simon Woollams
Contact person for this announcement	Simon Woollams
Contact phone number	+64 9 358 7937
Contact email address	simon@augusta.co.nz
Date of release through MAP	16/09/2020

Capital Change Notice (Placement and Institutional Offer)

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