Monday, 20 August 2018

Announcement

MEETING: BIL: Special Meeting Result

05 Dec 2017 09:38NZX
5 December 2017

Special Meeting Result

Bethunes Investments Limited (NZX:BIL) held its special meeting of
shareholders in Auckland today, with shareholders approving the acquisition
of the business of Transport Investments Limited (TIL) and related
transactions.

Current chairman of TIL, Jim Ramsay, said: "We are delighted to be bringing
TIL to the public domain, with the support of Bethunes shareholders. This
transaction secures the future of TIL as one of New Zealand''s leading
domestic freight and logistics companies and we are looking forward to taking
advantage of a range of genuine growth opportunities which are available to
TIL".

With effect prior to the commencement of trading on 7 December 2017, Bethunes
will change its name to TIL Logistics Group Limited and its NZX ticker code
to TLL.

Completion of the Transactions is expected to occur tomorrow and the existing
Bethunes directors will resign and be replaced by a new board of directors
with in-depth industry and governance experience comprising Jim Ramsay,
Trevor Janes, Lorraine Witten, Danny Chan and Greg Kern.

The distribution of shares in BIL 2016 Limited (New BIL) to Bethunes
shareholders is also expected to occur tomorrow based on the previously
advised record date of 5pm, 1 December 2017. Shareholders will receive
holding statements from Link Market Services Limited by the end of next week
confirming their New BIL shareholdings.

Voting and Proxy Results

All resolutions set out in the notice of meeting released to NZX on 17
November 2017 were passed unanimously by a show of hands vote. Details of
the votes received by proxy for today''s meeting accompany this announcement.

ENDS

For further information and media assistance, please contact:

Bethunes Investments Limited
Christopher Swasbrook
Phone: +64 21 928 262
Email: chris.swasbrook@bethunesinvestments.com

Transport Investments Limited
Jackie Ellis, Media Liaison
Phone: + 64 27 246 2505
Email: jackie@ellisandco.co.nz

Transport Investments Limited (TIL)

TIL is one of the largest private domestic freight and logistics businesses
in New Zealand, with a nationwide network of branches, depots and warehouses.
TIL''s activities include transporting and warehousing freight throughout New
Zealand and co-ordinating freight movements offshore with the assistance of
international alliances. TIL also has a specialist road tanker division which
is one of the largest operators in the New Zealand fuel delivery market by
road tanker.
End CA:00311426 For:BIL    Type:MEETING    Time:2017-12-05 09:38:49
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Bethunes Investments
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