Director Changes, Delisting Imminent

Tegel Group Holdings Limited (NZX/ASX: TGH, Company) advises that following the successful completion of the takeover by Bounty Holdings New Zealand Limited (Bounty), Tennyson Chen, Kenneth Cheng, Caroline Chung and Engelbert Segers have been appointed as directors of the Company with immediate effect. As these directors have been nominated by, and are representatives of, Bounty none of them are regarded as independent directors for the purposes of the NZX Main Board Listing Rules. Tang Kok Yew and Brett Sutton have also resigned as directors of the Company. Now that Bounty has exercised its compulsory acquisition rights under Part 7 of the Takeovers Code to acquire all the shares in the Company, the Company has made a request to NZX and ASX to suspend the Company's shares from trading and to delist from both the NZX and ASX. -ENDS- End CA:00324859 For:TGH Type:ADMIN Time:2018-10-04 09:17:16