Disclosure of movement of 1% or more in substantial holding

Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest or both Sections 277 and 278, Financial Markets Conduct Act 2013 To: NZX and To: The Colonial Motor Company Limited Relevant event being disclosed: decrease of substantial holding by 1% or more Date of relevant event: 22 March 2017 Date this disclosure made: 27 March 2017 Date last disclosure made: 1 April 2014 Substantial security holder(s) giving disclosure Name(s): Peter Craig Gibbons Summary of substantial holding to which disclosure relates Class of quoted voting products: ordinary shares Summary for: Peter Craig Gibbons For this disclosure,-- (a) total number held in class: 2,232,341 (b) total in class: 32,694,632 (c) total percentage held in class: 6.83% For last disclosure,-- (a) total number held in class: 3,477,948 (b) total in class: 32,694,632 (c) total percentage held in class: 10.64% Details of transactions and events giving rise to relevant event Date of transactions : 22 March 2017 Nature of transactions: Off-market transfers for no consideration. Number of Voting Securities: 1,050,000 Consideration : Nil Details of relevant interests in substantial holding after relevant event Relevant Interest One: Nature of relevant interest(s): Peter Craig Gibbons is a registered holder and beneficial owner of ordinary shares. No relevant agreement document needs to be attached under Regulation 139, Financial Market Conduct Regulations 2014. For that relevant interest,-- (a) number held in class: 1,058,699 (b) percentage held in class: 3.24% (c) current registered holder(s) of securities: Peter Craig Gibbons (d) registered holder(s) of securities once transfers registered: not applicable Relevant Interest Two: Nature of relevant interest(s): Peter Craig Gibbons (in his capacity as trustee of The P C Gibbons Trust) is a registered, non-beneficial owner of ordinary shares in CMO. No relevant agreement document needs to be attached under Regulation 139, Financial Market Conduct Regulations 2014. For that relevant interest,-- (a) number held in class: 1,173,642 (b) percentage held in class: 3.59% (c) current registered holder(s) of securities: Peter Craig Gibbons as trustee of the P C Gibbons Trust. (d) registered holder(s) of securities once transfers registered: not applicable Additional information Address(es) of substantial security holder(s): 2/23 Box Hill, Khandallah, Wellington Name of any other person believed to have given, or believed to be required to give, a disclosure under the Act in relation to the securities to which this disclosure relates: Graeme Durrad Gibbons End CA:00298922 For:CMO Type:SSH Time:2017-03-28 08:39:16