Convertible financial product

This is an investment that may become changeable, or change, into another kind of investment. Convertibles are usually bonds or preferred shares that can be converted into common stock. They may offer protection against heavy losses, but also typically give up some increases in value.

Shares are subject to potential conversion into Class B Shares of Zespri in certain
circumstances.
A Class B Share does not have any rights to a dividend but otherwise has the same rights as a Share (although in practice, a holder of a Class B Share will usually not have voting rights either, as most voting rights are based on production, which a holder of a Class B
Share will not have due to them being a non-Producer). A Share will not convert into a
Class B Share, and a Class B Share will
automatically convert back to a Share, if it is
held by a Producer.

Restrictions on transfer

There are rules around transfering in and out of this investment, which may depend on eligibility. For example, overseas investors may not be able to transfer into some New Zealand managed funds. Or there may be restrictions on withdrawals, such as not until age 65 for KiwiSaver funds.

Restrictions on acquisition

In this case, there are limits or exclusions on buying this investment that are important to know and acknowledge before you do.

The offer is only open to “producers”, as defined in section 2 of the Kiwifruit Export Regulations 1999, resident in New Zealand who opt-in to, and remain eligible to participate in, the LaS Scheme and/or the DaS Scheme (all terms are defined in the PDS).