NZL - Accelerated Offer

New Zealand Rural Land Company Limited (NZX:NZL) has announced that it will undertake a pro rata 1 for 3 accelerated renounceable entitlement offer of fully paid ordinary shares of the same class as already quoted on the NZX Main Board (Shares) to raise approximately $38.5 million. In addition, 1 warrant (Warrant) will be issued for every 3 Shares allotted under the entitlement offer. A Warrant may be exercised in the future to receive a Share of the same class as already quoted on the NZX Main Board (together, the Offer).

Pursuant to clause 20(1)(a) of Schedule 8 to the Financial Markets Conduct Regulations 2014 (the Regulations), and the Financial Markets Conduct Act 2013 (FMCA), NZL advises that:

1 NZL is making the Offer to investors in reliance upon the exclusion in clauses 19(1) and 19(1A) of Schedule 1 to the FMCA and is giving this notice under clause 20(1)(a) of Schedule 8 to the Regulations.

2 As at the date of this notice:

a) NZL is in compliance with the continuous disclosure obligations that apply to it in relation to its quoted ordinary shares;

b) NZL is in compliance with its “financial reporting obligations” (as defined in clause 20(5) of Schedule 8 of the Regulations); and

c) there is no information that is “excluded information” (as defined in clause 20(5) of Schedule 8 of the Regulations).
3 The Offer is not expected to have any material effect or consequence on the control of NZL.

Please refer to the Offer Document and Investor Presentation for more information.

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Announcement PDF