NZX Limited has completed the retail entitlement offer component

Tuesday 15th March 2022

NZX Limited ("NZX") announces that it has completed the retail entitlement offer component ("Retail Entitlement Offer”) of its underwritten 1 for 9 accelerated pro-rata renounceable entitlement offer ("Entitlement Offer") of new fully paid ordinary shares in NZX.

The Retail Entitlement Offer closed on Friday, 11 March 2022 and raised gross proceeds of approximately NZ$10 million. Eligible Retail Shareholders elected to take up approximately 34% of their Entitlements.

The Institutional Entitlement Offer was accelerated, closing on Friday, 25 February 2022 and raised c. NZ$16 million. Approximately 68% of Eligible Institutional Shareholders elected to take up their Entitlements.

Retail Bookbuild

NZX will offer approximately 13.2 million entitlements for sale under the retail shortfall bookbuild (“Retail Bookbuild”). These entitlements are those attributable to Eligible Retail Shareholders that did not take up their entitlements in full and Retail Shareholders who were ineligible to participate in the Retail Entitlement Offer.

Any proceeds achieved above the Application Price from the sale of Retail Entitlements will be paid (less applicable taxes) on a pro-rata basis to those Eligible Retail Shareholders who did not take up their entitlements in full or Retail Shareholders who were ineligible to participate in the Retail Entitlement Offer. There is no guarantee that any amount will be realised for the sale of Retail Entitlements through the Retail Bookbuild.

The Retail Bookbuild will be conducted today and is open to institutional investors and brokers acting on behalf of retail clients in New Zealand. NZX's ordinary shares are being placed in a trading halt today while the Retail Bookbuild is conducted. Trading is expected to recommence on market open tomorrow, Wednesday 16 March 2022, with the announcement of the outcome of the Retail Bookbuild.

Settlement and allotment of all shares for the Retail Entitlement Offer is expected to occur on Friday, 18 March 2022. Trading of those shares is expected to commence on the NZX on Friday, 18 March 2022. The new shares to be issued under the Retail Entitlement Offer will rank equally in all respects with NZX’s existing ordinary shares. Holding statements for the new shares issued under the Retail Entitlement Offer will be dispatched on Monday, 21 March 2022.

Completion of Retail Entitlement Offer

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