ALLOT: PLU: Notification of Convertible Notes Redemption

22 Jan 2010 4:58 pm

PLU 22/01/2010 ALLOT

REL: 1658 HRS Pulse Utilities New Zealand Limited

ALLOT: PLU: Notification of Convertible Notes Redemption

Notification of Convertible Notes Redemption

In accordance with NZAX Listing Rule 7.11.1, Pulse advises that it has redeemed convertible notes as follows:

Class of security: Convertible Notes ISIN: N/A - unlisted securities Number redeemed: $125,000 Redemption price: $1.00 per note converted to 250,000 $0.50 shares Payment in cash: No Percentage of class: 3.51% Purpose of the redemption: Pursuant to the terms of issue of the convertible notes, they may be redeemed at maturity at the discretion of the holder for their face value. Authority for the redemption: Terms of issue for the convertible notes Total number of securities on issue following redemption: 3,559,500 Convertible Notes 25,222,952 Ordinary Shares Date of redemption: 21 January 2010

For and on behalf of the Board

Dene Biddlecombe CEO & Director End CA:00190437 For:PLU Type:ALLOT Time:2010-01-22:16:58:14

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