thl Rights offer close announcement

18 July 2019 NZX ANNOUNCEMENT TOURISM HOLDINGS LIMITED (thl) TOURISM HOLDINGS CLOSES RIGHTS OFFER AND COMMENCES SHORTFALL BOOKBUILD thl (NZX:THL) advises that approximately 10 million new shares, at a price of $3.40 per share, were taken up by shareholders under its fully underwritten 1 for 9 pro rata rights offer, which closed on 16 July 2019. This represents approximately 68% of the new shares available to eligible shareholders under the rights offer. The new shares taken up under the rights offer are expected to be allotted on 23 July 2019. Shortfall bookbuild Approximately 4.6 million shares, out of a total rights issue offer size of approximately 14.7 million shares, were not taken up by shareholders under the rights offer and will be offered through the shortfall bookbuild, to be conducted by Jarden Securities Limited. The bookbuild is expected to be completed today. Shareholders who did not take up their full entitlements in the rights offer and ineligible shareholders will receive a pro-rata share of any premium achieved (being the amount by which the shortfall bookbuild price and exceeds the application price for new shares of $3.40 per new share), for the rights which they did not or could not take up. There is no guarantee that the shortfall bookbuild will result in a premium. For questions about this Offer, shareholders should consult their broker, solicitor, accountant, financial adviser, or other professional adviser or call thl's Share Registrar, Link Market Services, on +64 9 375 5998. END For further information contact: Grant Webster thl Chief Executive Direct Dial: +64 9 336 4255 | Mobile: +64 21 449 210 Jennifer Bunbury thl CFO Direct Dial: +64 9 336 4212 | Mobile: +64 21 118 4955 End CA:00337818 For:THL Type:OFFER Time:2019-07-18 08:37:29