Delisting of Airwork Holdings Ltd from NZX Main Board

Rifa Jair Company Ltd (Rifa) has made a conditional takeover offer for all of the shares of Airwork Holdings Ltd (NZX : AWK). The takeover offer closes at 11.59 pm on 10 November 2017 and shareholders have until that time to accept the offer. On 2 November 2017 Rifa gave notice that that offer is now unconditional, and that it has become the dominant owner of Airwork by virtue of becoming the holder or controller of 90% or more of the voting rights in Airwork. On 3 November 2017, Rifa announced that it is exercising its compulsory acquisition rights under Part 7 of the Takeovers Code, and that it has sent to outstanding security holders a compulsory acquisition notice requiring them to sell all of their shares in Airwork to Rifa. A copy of that notice, which includes details of the process and timing for compulsory acquisition, can be found on Airwork's website (www.airwork.co.nz/announcements-0). Airwork understands that NZX intends, in accordance with its usual policy, to suspend trading in Airwork shares on 10 November 2017, being 5 trading days after the dispatch of the compulsory acquisition notice. Shareholders have until 11.59 pm on 24 November 2017 to return a signed transfer in response to the compulsory acquisition notice, after which time any outstanding shares will be transferred to Rifa and payment for the shares held by Airwork pending a claim by the former holder. In light of the compulsory acquisition process and suspension of trading, Airwork has requested that NZX exercise its discretion under Listing Rule 5.4.2(a) to cancel Airwork's listing on the NZX Main Board. NZX has confirmed that this cancellation will take effect from 15 November 2017. Greg Steele Company Secretary +64 9 377 1663 End CA:00309983 For:AWK Type:TRANSACT Time:2017-11-08 11:11:30