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News Release 21 November 2012

Two New Directors for Rangatira: Sophie Haslem and Richard Wilks

Wellington investment company Rangatira today announced that two new Non-Executive Directors will be joining its Board, Richard Wilks and Sophie Haslem.

Richard Wilks was until earlier this year the Chief Credit Officer and Chief Risk Officer with ANZ National Bank (2006-May 2012). He has a corporate banking background and has held a number of executive roles with Standard Chartered Bank, Citibank Australia, Westpac Trust Australia, and Citibank New Zealand. Richard has held governance roles as Chairman of Radiola Corporation, Director of UDC Finance New Zealand, Chairman of Alto Plastics, and Chairman of Motion Industries. A Chartered Accountant, he has a BCom from the University of Auckland.

Sophie Haslem has been Head of Commercial and Investment for New Zealand Post since 2010 leading a substantive M&A programme and portfolio of subsidiary, joint-venture, and investment companies. She has been with New Zealand Post for the last ten years in a variety of management roles and has a background in strategy consulting and corporate/structured finance. Prior to joining New Zealand Post she was Senior Manager, Strategic Advisory Services with Cap Gemini Ernst & Young, and has had analyst roles with ANZ Investment Bank and Citibank Australia. Sophie is a Director of Air Post Ltd, Localist Ltd and Reachmedia Ltd. She is a member of the NZ Institute of Directors, and has a BCom and Post-Graduate Diploma in Management from The University of Melbourne.

Rangatira’s chairman Murray Gough said, “Richard and Sophie are experienced business professionals with skills and experience that will complement the current Board and assist in guiding the company’s future. Rangatira marked its 75th anniversary this year and has a long history of successful investment. We welcome Sophie and Richard to the Board and look forward to their contribution.”

Rangatira’s shares are listed on the Unlisted platform.

About Rangatira

Rangatira is a Wellington-based investment company with assets of over $150 million. Established in 1937, the Company is 51% owned by the JR McKenzie Trust with other community and charitable organisations owning another 15% of the shares. The balance of the shares is owned by private investors. Rangatira’s mission is to increase both the capital value of its shares and the dividends paid to its shareholders by investing creatively and competitively.

Rangatira has built a portfolio of local and international investments across a wide range of sectors. The Company has pursued a policy of investment in small to medium-sized unlisted New Zealand companies, complemented by holdings in a range of publicly listed New Zealand, Australian and international companies. All investments have been made taking a long-term position in companies that are well founded and well managed with good growth potential.

Rangatira is strictly commercial in its investment approach and benchmarks its performance against the wider investment community.

Rangatira will continue to explore investment opportunities across a range of business sectors. We aim to add value to our unlisted investments by actively contributing at management and board level, recognising the need to combine high standards of governance with sound management and a clear focus on growth and profitability.

ENDS

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