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Infratil Instalment Shares

6 Jun 2008


Dear Instalment Shareholder

I write to remind you that the second and final payment on Infratil's Instalment Shares is due and the procedures for making the payment.

  • The second instalment of $1.00 per Instalment Share should be paid from 14 July 2008 through to 8 August 2008.
  • The last day of trading for the Instalment Shares on the NZX is 25 July 2008.
  • You should complete and return the enclosed Exercise Form.
  • You can make the required payment by cheque or by direct credit. Please follow the instructions on the Exercise Form. It is very important that if you pay by direct credit you include your CSN in the payment advice.
  • Upon payment, each Instalment Share becomes an Ordinary Share, equal in all espects (e.g. as to dividend and voting entitlements) to existing Ordinary Shares.
  • Once payment is made and processed you will receive an updated statement from our share registrar, Link Market Services, showing the conversion from Instalment Shares to Ordinary Shares.
If you do not wish to make the second payment of $1.00 per Instalment Share then you should sell your Instalment Shares on or before 25 July 2008. You should contact your sharebroker to advise on this.

If you retain your Instalment Shares, but do not pay the second instalment by 8 August 2008, then the Instalment Shares may, after further notice, be forfeited.

You may make the second payment on some of your Instalment Shares and sell the rest.

If you have recently bought more, or sold some or all of your, Instalment Shares and the holding printed on the enclosed Exercise Form is now out-of-date, please amend by hand as required.

We have had some enquiries from shareholders who intend to be away when payment is required. To help in this regard, Instalment Shareholders may make the payment now. Infratil will hold all Exercise Forms and cheques unbanked until 14 July 2008. They will then be processed on 14 July 2008.

Yours sincerely
David Newman
Chairman
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