NZRLC commences quotation on the NZX Market

21 December 2020 NZRLC commences quotation on the NZX Market New Zealand Rural Land Company Limited (NZL:NZX) is pleased to commence quotation today on the NZX Market following the successful closing of its initial public offering. Allotment procedures were completed on 18 December 2020 and shareholders will be receiving their holding statements from Link Market Services. The initial public offering raised $75 million in new capital for NZRLC. This capital, together with a 30% of net asset value debt capacity, positions NZRLC to execute on its acquisition and leasing strategy. NZRLC can also advise the market that following allotment it received a request from its manager, New Zealand Rural Land Management Limited Partnership, for consent to a transfer of 20% of the existing equity interests in the manager to a new party. That consent was required under the management agreement and NZRLC has provided consent. Allied Farmers remains 50% owner of the manager and no change to the board or management of the manager has occurred as a result of the transfer. The Board of NZRLC expresses its thanks to investors who supported the Initial Public Offering and looks forward to progressing with rural land acquisitions in 2021. ENDS For further information please contact: Christopher Swasbrook Mobile: 021 928262 Email: chris.swasbrook@elevationcapital.co.nz / chris@nzrlm.co.nz End CA:00365396 For:NZL Type:GENERAL Time:2020-12-21 10:27:12