PaySauce Implements Share Consolidation

Wellington, New Zealand - 28 June 2019 The directors of SaaS payroll provider PaySauce (NZX:PYS) have resolved to implement a share consolidation in order to rationalise the number of ordinary shares in the company on issue. Every 50 PYS shares held as at 5:00pm on 12 July 2019 will be consolidated into 1 share, with all fractional entitlements rounded to the nearest whole number of shares (and any fractional entitlements to a half share being rounded up). PYS shares are expected to enter a trading halt to facilitate the consolidation from 5:00pm on 10 July 2019. As a result of the consolidation, the number of PYS shares on issue in will be reduced from 5,843,543,401 to 116,870,875. The expected timetable for the share consolidation is as follows: - 10 July 2019: Last day for trading in pre-consolidation shares on the NZX Main Board. PYS shares are expected to enter a three-day trading halt from 5:00pm on this date. - 11 July 2019: Ex-date for the consolidation. - 12 July 2019: Record date for the consolidation. - 16 July 2019: Commencement of trading in post-consolidation shares on the NZX Main Board. For more information about the share consolidation, please contact Asantha Wijeyeratne, CEO, on 021 554 600. www.paysauce.com ABOUT PAYSAUCE PaySauce provides award-winning SaaS payroll to small and medium sized enterprises. PaySauce enables business owners to pay and manage employees accurately and efficiently using web, iOS, and Android applications. The PaySauce platform includes mobile timesheets, payroll calculations, banking integration, PAYE filing, labour costing, automated general ledger entries and digital employment contracts. End CA:00336870 For:PYS Type:MKTUPDTE Time:2019-06-28 16:22:07