ALLOT: PLU: Notification of Convertible Note Allotment

12 Apr 2010 2:50 pm

PLU 12/04/2010 ALLOT

REL: 1450 HRS Pulse Utilities New Zealand Limited

ALLOT: PLU: Notification of Convertible Note Allotment

Notification of Convertible Note Allotment

In accordance with NZAX Listing Rule 7.11.1, Pulse advises that it has allotted convertible notes (on the terms approved by shareholders on 15 April 2009) as follows:

Class of security: Convertible Notes ISIN: N/A - unlisted securities Number issued: 20000 Issue price: $1.00 per Note Payment in cash: Yes Fully paid: Yes Percentage of class: N/A Purpose of the issue: To raise funds for general working purposes and as more fully described in the notice of meeting for the shareholder meeting that was held on 15 April 2009 approving the issue of convertible notes. Authority for the issue: Shareholder approval under NZAX Listing Rule 7.3.1(a) and Board resolutions. Terms of Issue: As described in the notice of meeting for the shareholder meeting that was held on 15 April 2009 approving the issue of convertible notes. Total number of securities on issue following allotments: 3,579,500 Convertible Notes 25,322,952 Ordinary Shares Date of issue: 9 April 2010

For and on behalf of the Board

Dene Biddlecombe CEO & Director End CA:00193634 For:PLU Type:ALLOT Time:2010-04-12:14:50:47

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