NZX RELEASE

7 April 2017

Augusta Capital Increases Stake to 18.85% Ahead of NPT Special Meeting

Augusta Capital today announces it has increased its shareholding in NPT Limited (NPT) to 18.85% following the acquisition of a further 9.59% stake in NPT from other shareholders. The total amount to be paid was $10,559,674, with settlement to occur on Tuesday, 11 April 2017. Following that, Augusta Capital will be the largest shareholder in NPT.

Augusta Capital Managing Director Mark Francis says: "This week's acquisition of shares in NPT is consistent with our long-standing plan to grow our funds management business and significantly, it strengthens our position ahead of the NPT Special Meeting on 21 April 2017."

"Having now carefully assessed the Kiwi Property proposal being recommended by the NPT Board - we remain firmly of a view that it is not in the interest of NPT shareholders."

"While we respect Kiwi Property the current proposal is heavily skewed in their favour - falling well short of what we consider to be fair and reasonable for NPT shareholders.

"Augusta intends to vote against the Kiwi Property proposal and is aware of a number of other shareholders who have indicated their intention to vote against the Kiwi Property Proposal. We would encourage all NPT shareholders to seek independent specialist advice concerning its merits before casting their vote," Mr Francis adds.

"We believe the current Board is completely out of touch with its shareholders in recommending this deal, and Augusta Capital will also be voting for change through resolutions two to six, to remove two of the current board members, noting that the previous Chairman has already stepped down," Mr Francis concludes.

Augusta Capital wishes to remind fellow NPT shareholders that the deadline for voting papers reaching Link Market Services is 11.00am on Wednesday 19th April 2017.

ENDS

For further information please contact: Mark Francis

Managing Director

For media enquiries please contact Hugo Shanahan

027 5111561

Augusta Capital Limited | Level 2, 4 Viaduct Harbour Drive | Auckland | New Zealand PO Box 37953 Parnell | P: +64 9 300 6161 | F: +64 9 300 6162 | www.augusta.co.nz

Augusta Capital Limited published this content on 07 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 April 2017 23:59:12 UTC.

Original documenthttp://www.augusta.co.nz/?ddownload=1633

Public permalinkhttp://www.publicnow.com/view/84663B9CF5E37CDF75824756939D149224E75656