Tuesday, 19 February 2019


SECISSUE: HBL: Notification of Transfer of Treasury Stock

01 Dec 2017 12:32NZX
NZX Release

Notification of Transfer of Treasury Stock

1 December 2017

For the purposes of Listing Rules 7.12.1 of the NZX Main Board Listing Rules,
Heartland Bank Limited (Heartland) (NZX: HBL) advises the transfer of
treasury stock from its wholly-owned subsidiary, Heartland NZ Trustee Limited
(HNZ Trustee), to Heartland.

HNZ Trustee previously acted as the trustee for an employee share scheme
called the "Heartland New Zealand Limited Share Plan Trust" (Scheme). As
trustee, HNZ Trustee held legal title to shares in Heartland on behalf of the
participants in the Scheme. Upon satisfaction of the Scheme''s grant criteria,
HNZ Trustee transferred shares to the participants.

As the grant criteria for some grants were never satisfied, HNZ Trustee
continued to hold legal title to 440,677 shares in Heartland (Shares). As
there were no longer any participants in the Scheme, the Shares were treated
as treasury stock from an accounting perspective.

HNZ Trustee subsequently transferred the legal title to the Shares to
Heartland, which will continue to hold the Shares as treasury stock.

Class of Security: Fully paid ordinary shares


Number acquired: 440,677

Acquisition price: Nil

Payment: Nil

Amount paid up: Fully paid

Percentage of total class acquired: 0.0854% of the total number of fully paid
ordinary shares

Reason for acquisition: As set out above

Authority for acquisition: HNZ Trustee Directors'' resolution dated 28 April
2017 and Heartland Directors'' resolution dated 27 September 2016.

Terms or details of acquisition: As set out above

Total number of securities of the class after acquisition: 522,670,335 (as at
30 November 2017 and including the 440,677 shares held as treasury stock)

Treasury Stock: Yes

Date of acquisition: 28 April 2017

- Ends -

For further information please contact:

Michael Drumm
General Counsel
Heartland Bank Limited
DDI 09 927 9136
End CA:00311278 For:HBL    Type:SECISSUE   Time:2017-12-01 12:32:43
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Heartland Bank Limited Ordinary Shares
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