Investment Services, New Zealand
Investment Services is an investment manager with a portfolio of over $60 million of quality assets. Our philosophy is based on identifying superior investment opportunities for investors and managing those investments to maximise the long term returns to owners.

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6 November 2018 UPDATE

Further to our correspondence of 27 September 2018, we can now provide the following additional information:

1. We have been working alongside PwC who have now completed their forensic investigation of company records for the three property investment companies.

2. PwC have advised that a total value of approximately 2.3 million dollars has been misappropriated from the property companies and Investment Services Limited over the past 10 years.

3. As we noted in our letter of 27 September, we have obtained freezing orders over assets belonging to the individual who we suspect is responsible for the misappropriation. Those freezing orders have now been extended indefinitely.

4. Given pending court action and the fact that further disclosure may prejudice our ability to recover funds, we are unable to provide more detailed information at this stage. What we can confirm is that we are working with appropriately qualified consultants and advisers (such as PwC) in order to obtain a resolution to this matter as quickly as possible.

We will provide a further update as soon as practicable (likely to be early December)

Paul Mephan, Chairperson

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5 October 2018

IMPORTANT SHAREHOLDER NOTICE TO ALL INVESTORS of

FIRST NZ PROPERTIES LTD, SUPERSTORE PROPERTIES LTD & SPRINGS ROAD PROPERTY LTD

Investment Services has sent a letter to all shareholders this week. A link to a copy of the letter: 27 September 2018 Letter to Shareholders

As a result, our Secondary Market has been suspended and no market trades will occur until further notice.

We will post updates to shareholders here on our website.

Paul Mephan

Chairperson

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Portfolio

Springs Road Property Limited
Superstore Properties Limited
First NZ Properties Limited


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