ALLOT: PLU: Notification of Convertible Note Allotment

12 May 2010 10:33 am

PLU 12/05/2010 ALLOT

REL: 1033 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 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 capital purposes. Authority for the issue: Board resolutions. Terms of Issue: As described in the notice of meeting for the shareholder meeting that was held on 15 April 2009. Total number of securities on issue following allotments: 3,549,500 Convertible Notes 25,322,952 Ordinary Shares Date of issue: 7 May 2010

For and on behalf of the Board

Dene Biddlecombe CEO & Director End CA:00194799 For:PLU Type:ALLOT Time:2010-05-12:10:33:28

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