CGL to undertake share consolidation

CGL TO UNDERTAKE SHARE CONSOLIDATION ON A 50 FOR 1 BASIS As announced on 6 October 2017, the Directors of Chow Group Limited (CGL) have resolved to consolidate the existing ordinary shares (Shares) on issue in CGL (Consolidation). Under the Consolidation, every 50 existing Shares held in CGL on 1 November 2017 (Record Date) will be consolidated into 1 Share. As a result of the Consolidation the number of Shares on issue in CGL will be reduced from 822,903,748 to approximately 16,458,075 Shares. Fractional entitlement to Shares which arise as a result of the Consolidation will be rounded to the nearest whole number of Shares (and a fractional entitlement to half a Share will be rounded up). Pre-Consolidation holdings in the same name will be aggregated for calculation of entitlements to post-Consolidation Shares. Where CGL considers that pre-Consolidation holdings have been split in order to take advantage of rounding, CGL reserves the right to aggregate holdings held by associated shareholders for the purposes of calculating entitlements to post-Consolidation Shares. The Consolidation will take effect from 5.00pm (New Zealand Time) on 1 November 2017 and will be completed on the basis of CGL's register as at that date. All Shares held by shareholders on the register at that time will be consolidated on a 50 for 1 basis as described above. The precise number of Shares then on issue will be announced shortly after this date and shareholders will be issued with a revised holding statement. The indicative timetable for the Consolidation is as follows: (a) 6 October 2017 - Consolidation proposal notified to NZX in accordance with Rule 10.7.1 of the NZAX Listing Rules. (b) 17 October 2017 - Consolidation announced to the market, Appendix 4 notice lodged with NZX, and notice of Consolidation to shareholders. (c) 30 October 2017 - last day for trading in pre-Consolidation Shares on the NZAX. (d) 31 October 2017 - Ex-date for the Consolidation. The Shares are expected to enter a 2 day trading halt from this date until the Consolidation is completed. (e) 1 November 2017 - Record date for the Consolidation. (f) 2 November 2017 - Notice to the market of completion of the Consolidation and commencement of trading in post-Consolidation Shares on the NZAX. (g) 3 November 2017 - Dispatch of holding statements to shareholders. Shareholders will receive a statement from CGL's Share Registrar, Link Market Services, a few days after the Consolidation notifying them of their shareholding. It is important to note that, while the Consolidation will reduce the number of Shares held by shareholders by a factor of 50, the Consolidation will not impact each shareholder's relative percentage shareholding in CGL. In addition, it is anticipated that the price at which Shares trade on the NZAX immediately following the Consolidation should increase relative to the Consolidation ratio. For further information please contact: Craig Jones, Group Financial Controller, Craig.Jones@cgml.co.nz, 027 557 2980. End CA:00308824 For:CGL Type:MKTUPDTE Time:2017-10-17 16:50:09