Completion of Rights Offer

NZX listed industrial property landlord Property for Industry Limited (PFI) is pleased to announce the successful completion of its 1 for 10 pro rata renounceable rights offer, announced on 4 October 2017. Approximately 35.7 million new shares were taken up by shareholders, representing approximately 78.7% of the new shares available under the rights offer. This represents gross proceeds of $54.9 million. The new shares not taken up under the rights offer will be allotted to the Underwriter, Forsyth Barr Group Limited. New shares will be allotted and begin trading on 7 November 2017. Shareholders who have any questions about the rights offer are encouraged to read the offer document which is available on PFI's website (www.pfirightsoffer.co.nz) and seek financial, investment, or other professional advice from a qualified professional adviser. ENDS ABOUT PFI & CONTACT PFI is New Zealand's only listed company specialising in industrial property. PFI's portfolio of 92 properties located in Auckland, Hamilton, Mount Maunganui, New Plymouth, Napier, Wellington, Nelson, Blenheim and Christchurch is leased to 148 tenants. For further information please contact: SIMON WOODHAMS General Manager --- Phone: +64 9 303 9652 Email: woodhams@pfi.co.nz --- CRAIG PEIRCE Chief Financial Officer and Company Secretary --- Phone: +64 9 303 9651 Email: peirce@pfi.co.nz --- Property for Industry Limited Shed 24, Prince's Wharf, 147 Quay Street, Auckland 1010 PO Box 1147, Shortland Street, Auckland 1140 --- www.propertyforindustry.co.nz End CA:00309697 For:PFI Type:OFFER Time:2017-11-02 17:21:22