Redemption of Partly-paid Ordinary Shares

REDEMPTION OF PARTLY-PAID ORDINARY SHARES Notice from Freightways Limited pursuant to Listing Rule 7.12.1. Please be advised as follows: (a) Class of Security: Freightways Limited partly-paid ordinary shares. (b) Number of Securities redeemed: 12,645 (c) Redemption price: $0.01 per share (d) Payment: Consideration for the redemption is cash. (e) Amount paid up: $0.01 per share (f) Partly-paid ordinary shares are issued in accordance with the Plan Rules of the Freightways Senior Executive Performance Share Plan. Issued shares are paid up to one cent only upon issue. The balance of the respective issue price may only be fully paid up once performance hurdles and vesting periods have been met in accordance with the Plan Rules. Notwithstanding that the performance hurdles and vesting periods may have been met, if the partly-paid ordinary shares have not been fully paid up within 5 years from the issue date, the Company must redeem and cancel the relevant partly-paid ordinary shares. (g) % of the total class of securities redeemed: 6% of the partly-paid shares on issue (prior to this redemption). (h) Reason for redemption: These partly-paid ordinary shares, previously allotted to the former Managing Director, will not become eligible to be fully paid up in accordance with the terms of the Freightways Senior Executive Performance Share Plan. (i) Specific authority for redemption: Pursuant to the terms of the Freightways Senior Executive Performance Share Plan and as permitted by the NZX waiver of the application of Listing Rule 7.6.1, granted by NZX with effect from 30 April 2012. (j) Terms or details of redemption: The consideration payable by the Company to the holder of a partly-paid ordinary share upon redemption is the paid up amount. The partly-paid ordinary shares will be cancelled upon redemption. (k) Total number of securities of the class in existence after the redemption: 199,377 (l) Treasury stock (acquisition only): Not applicable (m) Date of redemption: 21 August 2018 ENDS For further information please contact: Mark Troughear, Chief Executive Officer, Freightways Limited, +64 9 571 9673 End CA:00322515 For:FRE Type:SECISSUE Time:2018-08-21 15:44:30