Ann: RIGHT: KPG: Completion of retail entitlement offer

• Release Date: 11/06/15 08:30
• Summary: RIGHT: KPG: Completion of retail entitlement offer
• Price Sensitive: No
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					KPG
11/06/2015 08:30
RIGHT
PRICE SENSITIVE
REL: 0830 HRS Kiwi Property Group Limited

RIGHT: KPG: Completion of retail entitlement offer

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES

COMPLETION OF RETAIL ENTITLEMENT OFFER
Kiwi Property advises that it has successfully completed the retail
entitlement offer component (Retail Entitlement Offer) of its underwritten 1
for 9 entitlement offer (Offer).  The Offer was announced on 18 May 2015, and
will raise a total of approximately NZ$151.9 million.

The Retail Entitlement Offer raised gross proceeds of approximately NZ$42
million.

The shares taken up under the Retail Entitlement Offer are expected to be
allotted and commence trading on 16 June 2015.

RETAIL BOOKBUILD
Approximately 33 million shares out of a total Retail Entitlement Offer size
of 68 million shares are available for the retail bookbuild component of the
Offer, to be conducted by joint lead managers, Credit Suisse (Australia)
Limited and First NZ Capital Securities Limited.  The bookbuild opens at
10.00am on 11 June 2015, and is expected to close by 1.00pm on 11 June 2015.

A trading halt has been sought for the period during which the retail
bookbuild will be conducted.  Retail shareholders who did not take up their
full entitlements or who were ineligible to participate in the Retail
Entitlement Offer will receive a pro rata share of any positive difference
between the retail bookbuild price and the application price for new shares
of NZ$1.20 per new share.

There is no guarantee that any value will be received from the retail
bookbuild by eligible retail shareholders who did not take up their full
entitlement or ineligible retail shareholders.

FURTHER INFORMATION
Shareholders who have any questions about the Offer are encouraged to read
the Offer Document on the website established for the Offer,
kiwipropertyrightsoffer.co.nz, and seek financial, investment, or other
professional advice from a qualified professional adviser.

If a trading halt is granted, Kiwi Property shares will continue in trading
halt until an announcement containing the results of the retail bookbuild is
made.

>Ends

DISCLAIMER
This announcement has been prepared for publication in New Zealand and may
not be released or distributed in the United States.  This announcement does
not constitute an offer to sell, or a solicitation of an offer to buy
securities in the United States or any other jurisdiction.

The entitlements and shares to be offered in the Offer described in this
announcement have not been, and will not be, registered in the United States
under the US Securities Act of 1993 and may not be offered or sold in the
United States, except in transactions exempt from, or not subject to, the
registration of the US Securities Act and applicable to US state securities
law.

CONTACT US FOR FURTHER INFORMATION

Chris Gudgeon
Chief Executive
[email protected]
+64 9 359 4011
mobile +64 21 855 907

Gavin Parker
Chief Operating Officer
[email protected]
+64 9 359 4012
mobile +64 21 777 055

ABOUT US
Kiwi Property (NZX: KPG) is the largest listed property company on the New
Zealand Stock Exchange and is a member of the NZX15 Index. We've been around
for more than 20 years and we proudly own and manage a $2.28 billion
portfolio of real estate, comprising some of New Zealand's best shopping
centres and prime office buildings. Our objective is to provide investors
with a reliable investment in New Zealand property by targeting superior
risk-adjusted returns over time through the ownership and active management
of a diversified, high-quality portfolio. To find out more, visit our website
kp.co.nz
End CA:00265503 For:KPG    Type:RIGHT      Time:2015-06-11 08:30:17