Sunday, 17 February 2019


OFFER: HBL: Heartland Closes Rights Offer

11 Dec 2017 17:19NZX
NZX Release

Heartland Closes Rights Offer

11 December 2017

Heartland Bank Limited (NZX: HBL) (Heartland) is pleased to advise that the
Rights Offer component of its 1 for 15 pro rata rights issue, which closed on
8 December 2017, was strongly supported by shareholders.

Approximately 28.5 million new shares were taken up, at a price of $1.70 per
share, representing approximately 82% of the total new shares available under
the Rights Offer.  In addition, applications totalling approximately $18.5
million were received for additional new shares attributable to any rights
not taken up.

The Shortfall Bookbuild will take place over the course of tomorrow, Tuesday
12 December 2017. Heartland expects to announce the results of the Shortfall
Bookbuild not later than Wednesday 13 December 2017.

Attached is a copy of the notice of offer of same class financial products
for issue in respect of Shortfall Bookbuild.

Any premium above the issue price that is achieved in the Shortfall Bookbuild
will be shared between those shareholders who did not, or were unable to,
take up their rights, in proportion to the number of rights not taken up. Any
premium will be paid to those shareholders by 21 December 2017.

- Ends -

For further information, please contact:

David Mackrell
Chief Financial Officer
Heartland Bank Limited
DDI 09 927 9561
End CA:00311733 For:HBL    Type:OFFER      Time:2017-12-11 17:19:36
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