Precinct announces share purchase plan issue price

Precinct Properties Group (Precinct) has announced the issue price for its non-underwritten Share Purchase Plan (SPP) targeting NZD25 million in New Stapled Shares. The SPP closed on Tuesday, 28 October 2025, with New Stapled Shares to be issued at NZD1.2047 each. This price represents the lower of the placement price of NZD1.23 or a 2.5% discount to the five-day volume weighted average price of Precinct’s stapled shares traded on the NZX, which was NZD1.2356.

Settlement, allotment, and the commencement of trading for these new shares are expected on 4 November 2025. These new shares will rank equally with Precinct's existing Stapled Shares. A further announcement regarding the final outcome of the SPP, including the treatment of oversubscriptions, is anticipated on Monday, 3 November 2025.

Precinct is New Zealand's largest owner, manager, and developer of premium city centre real estate in Auckland and Wellington, with a directly-held portfolio valued at NZD3.2 billion as of 30 June 2025. The company restructured on 1 July 2023, creating a stapled group structure where shares in two listed parent companies are held and dealt with together.