1. Windflow Technology Limited (WTL) is pleased to advise that it has issued
and allotted 3,750,000 additional new convertible redeemable preference
shares (Preference Shares or the Securities) at $0.50 per Preference Share to
an existing shareholder on the same terms and conditions as set out in the
short form prospectus and investment statement of WTL dated 26 November 2013,
as amended by a memoranda of amendment to registered prospectus dated 4
December 2013 and 23 December 2013 (January Preference Shares) (Placement).
We note that these Securities will not be listed on an exchange.
2. Pursuant to NZAX Listing Rule 7.11.1 we set out below the required details
of the allotted Securities:
(a) Class of Securities and ISIN: Preference Shares; no ISIN as these
Securities will not be listed.
(b) Number of Securities issued: 3,750,000.
(c) Nominal value (if any) and Issue Price: $0.50 per Preference Share.
(d) Whether payment in cash: Payment for the Preference Shares was in cash,
paid by way of a reduction of the amount owed by the Company to the
subscriber under various loans.
(e) Amount paid up (if not in full): Issue price paid in full.
(f) Percentage of the total class of Securities issued: Issue equates to
21.02% of the total number of this class of Securities on issue at the date
of this notice.
(g) Reason for issue: The purpose of the issue of the Preference Shares is to
provide capital to the WTL to fund its short to medium term operations and
assist with the financing of its turbine projects.
(h) Specific authority for the issue (if any): Placement of Preference Shares
to an existing shareholder of WTL, such issue does not require disclosure
under the provisions of the Financial Markets Conduct Act 2013 (Act) pursuant
to clause 3(3)(b)(ii) of Schedule 1 of the Act. Placement of Securities
authorised by shareholder resolutions at a General Meeting of Shareholders on
30 November 2015.
(i) Terms or details of the issue: Placement to existing shareholder on same
terms as the January Preference Shares, being each Preference Share issued at
$0.50 each and bearing preferential dividends at 10.0% per annum (commencing
12 months after the allotment date).
(j) Total number of Securities of the class in existence after the issue:
17,840,579.
(k) In the case of an acquisition of shares by the Issuer, whether those
shares are to be held as Treasury Stock: Not applicable.
(l) Date of the issue: 30 June 2016.
3. If you have any queries, please contact Terry Moon at WTL on 03 365 8960
or by fax
on 03 365 1402.
Yours faithfully
Windflow Technology Limited
David Michael Chick
Chairman
End CA:00285158 For:WTL Type:GENERAL Time:2016-07-04 15:35:55