HGH meets Challenger Bank milestone & NZ$210m equity raise

Heartland announces indicative regulatory approval of Challenger Bank acquisition, and NZ$210m equity raise

Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) is pleased to announce that it has received indicative regulatory approvals from the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of New Zealand (RBNZ) for Heartland Bank Limited’s acquisition of Challenger Bank Limited from Challenger Limited (ASX: CGF).

Heartland also announces a NZ$210 million equity raise, comprising an NZ$105 million underwritten institutional placement (Placement) and a NZ$105 million underwritten 1 for 6.85 accelerated non-renounceable entitlement offer (Entitlement Offer).

APRA and RBNZ’s final regulatory approvals are conditional on the successful completion of the Placement and Entitlement Offer.

Included in this announcement is:

1. Offer Announcement

2. Offer Document

3. Investor Presentation

4. NZX Corporate Action Notice

5. Cleansing Notice

ENDS

•  Offer Announcement
•  Offer Document
•  Investor Presentation
•  NZX Corporate Action Notice
•  Cleansing Notice

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