Monday, 20 August 2018

Announcement

SECISSUE: HBL: Notification of Issue of Securities

05 Dec 2017 17:11NZX
NZX Release

Notification of Issue of Securities

5 December 2017

For the purposes of Listing Rules 7.12.1 and 5.2.5 of the NZX Main Board
Listing Rules, Heartland Bank Limited (Heartland) (NZX: HBL) advises the
issue of performance rights (Performance Rights) pursuant to Heartland''s
Performance Rights Plan (the Plan) in respect of the 2017 financial year.

Subject to the holder remaining employed by Heartland and achievement of the
Total Shareholder Return targets over the period between 31 August 2016 and
the date falling 10 business days following the date on which Heartland
announces its full year results for the financial year ended 2019, holders
will be entitled to receive one fully paid ordinary share in Heartland for
each Performance Right held by them.

Class of Security: Performance Rights issued under the Plan

ISIN: N/A - the Performance Rights will not be quoted

Number issued: 40,000 Performance Rights

Issue price: Nil

Payment: Nil

Amount paid up: N/A

Percentage of total class issued: 4.50% of the total number of Performance
Rights of the same class on issue prior to this issue

Reason for issue: The board of Heartland has resolved to offer the
Performance Rights to selected employees as part of their overall
remuneration package. The Performance Rights will:

(a) better incentivise and motivate those particular individuals to continue
in employment with Heartland;

(b) better incentivise and motivate participants to exercise long-term
thinking to contribute to the long-term success of Heartland; and

(c) more closely align the interests of those particular individuals with
those of Heartland and its shareholders.

Authority for issue: Directors'' resolution dated 30 May 2017

Terms or details of issue: As set out above

Total number of securities of the class after issue: 928,300 Performance
Rights

Date of issue: 5 December 2017

Additional information: The Board has retained the discretion to amend the
Rules, or the terms of an offer of Performance Rights, where it considers the
amendment to be necessary in order to ensure that the spirit and intent of
the Plan will be fulfilled.

- Ends -

For further information please contact:

Michael Drumm
General Counsel
Heartland Bank Limited
DDI  09 927 9136
End CA:00311441 For:HBL    Type:SECISSUE   Time:2017-12-05 17:11:39
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Heartland Bank Limited Ordinary Shares
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High:1.980 
Low:1.980 
Volume:58,123 
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52-Wk Low:1.520