Notes

The legal maturity is given as "perpetual" as the issuer can on an election date convert the bonds into ordinary shares.

On the election date the bond holder has the option of either:

• retaining some or all of their bonds on new terms and conditions offered by the issuer, or
• converting some or all of their bonds into ordinary shares in the issuer. The number of shares issued will be determined by dividing the face value of the bonds by a share price that represents 98% of the then market price.

The issuer may, at its option, redeem or purcahse some or all of the bonds that holders have elected to convert into shares

If the bond holder fails to make the election descibed above, it will be deemed to have chosen to retain their bonds on new terms and conditions offered by the issuer.

The bond holder has no right to force redemption for cash.

Please refer to the investment statement for further details.

The information contained on this page details certain terms of the bonds extracted from sources that interest.co.nz believes to be accurate and reliable. interest.co.nz accepts no liability for any omissions or errors contained in this information. Any prices and/or yields displayed are indicative only and are subject to change. The information contained on this page must not be construed as a recommendation or advice by interest.co.nz to buy, sell, hold or otherwise deal in the bonds.