In a prominent place, the date as at which Te Kaikoura's statement is prepared.

A statement in the following form (to be set out at the front of Te Kaikoura's statement):

A description of the proportionate ownership scheme, the interests in the proportionate ownership scheme being offered, and how long the scheme has been in operation.

A description of the real property to be purchased in accordance with the proportionate ownership scheme.

Material details of the contracts relating to the building or improvements proposed by Te Kaikoura on the real property.

A description of any covenants, conditions, restrictions, and easements in respect of the real property (whether or not they are registered on the certificate of title of the real property).

Whether or not any matters referred to in a land information memorandum under section 44A of the Local Government Official Information and Meetings Act 1987 have been referred to the independent registered valuer for the purposes of the valuation report referred to in clause 6(g) of this notice, and a description of those matters.

A description of any option, buyback, or similar arrangement, and of any rental guarantees in relation to the real property.

(1) Material details concerning any rights of occupation to which the real property is subject, whether by lease, licence, or otherwise, including—

• (a) the term of the agreement; and

• (b) any rights of renewal; and

• (c) any rent reviews; and (d) the financial standing of tenants or occupiers; and (e) any guarantees or other special provisions.

(2) A statement—

• (a) of the place where copies of any agreement relating to those rights of occupation may be inspected free of charge; and

• (b) whether or not any existing occupant of the real property has failed to meet any material obligations under the terms of any agreement that confers a right of occupation.

The names and addresses of the following persons associated with the proportionate ownership scheme and a description of their role in the scheme:

• (a) Te Kaikoura and its directors; and

• (b) the manager of the scheme and, if that person was not the person first appointed as the manager of the scheme, the person first appointed as the manager of the scheme; and

• (c) the solicitor referred to in clause 6(e) of this notice; and

• (d) the sales organisation (if any) through which the offer of specified participatory securities is to be made to the subscribers; and

• (e) the names and addresses of any promoters.

The qualifications and experience of the manager of the proportionate ownership scheme.

(1) Material details of any management agreement that has been, or is proposed to be, entered into for the management of the real property, including—

• (a) the term of the agreement; and

• (b) the management fee; and

• (c) the procedures for making decisions that may affect the interests of subscribers for specified participatory securities.

(2) A statement of the place where copies of the management agreement may be inspected free of charge.

(1) This clause applies if Te Kaikoura, the manager of the proportionate ownership scheme, any promoter of the proportionate ownership scheme, or any shareholder, director, or employee of Te Kaikoura or of the manager or of the promoter—

• (a) is a party to, or will or may derive a material financial benefit from, any transaction relating to the proportionate ownership scheme or the real property; or

• (b) has a material financial interest in another party to, or a person who will or may derive a material financial benefit from, any transaction relating to the proportionate ownership scheme or the real property; or

• (c) is a director, officer, or trustee of another party to, or a person who will or may derive a material financial benefit from, any transaction relating to the proportionate ownership scheme or the real property; or

• (d) is the parent, child, or spouse of another party to, or a person who will or may derive a material financial benefit from, any transaction relating to the proportionate ownership scheme or the real property; or

• (e) is otherwise directly or indirectly materially interested in any transaction relating to the proportionate ownership scheme or the real property.

(2) The following information if this clause applies:

• (a) the names of the parties to the transaction and the date of the transaction; and

• (b) a brief description of the material terms of the transaction; and

• (c) the nature of the interest in the transaction.

The purchase price to be paid by a subscriber for his or her or its stratum estate.

(1) A statement as to which of the following types of charges are or may be payable to Te Kaikoura or a promoter, to an associated person of Te Kaikoura or of a promoter, or to the proportionate ownership scheme by a subscriber (whether directly or indirectly, including by deduction):

• (a) entry charges:

• (b) trustee, administration, or management charges:

• (c) expenses or overhead charges:

• (d) charges or expenses relating to goods or services that the subscriber is required to obtain:

• (e) early termination charges:

• (f) switching or sale charges (including the difference between any buying and selling prices for the securities):

• (g) alteration charges:

• (h) other charges.

(2) A statement as to which of the types of charges specified in subclause (1) are or may be payable by Te Kaikoura, or from the proportionate ownership scheme, to a promoter or administration manager or investment manager, or to an associated person of Te Kaikoura or of the promoter or of the administration manager or of the investment manager, being charges that will or may affect the amount of the returns to subscribers.

(3) A brief description of any practices of Te Kaikoura or any associated person in relation to charges that will or may affect the amount of the returns to subscribers.

(4) A brief description of the rights of Te Kaikoura or any other person to alter any of the charges applicable to the specified participatory securities.

(1) If a charge, or the minimum or maximum amount of a charge, referred to in clause 15(1) can, at the date of Te Kaikoura's statement, be expressed as a dollar amount (or as a percentage of another dollar amount), a statement of the dollar amount (or of the percentage and a description of the other dollar amount).

(2) If a charge, or the minimum or maximum amount of a charge, referred to in clause 15(1) cannot, at the date of Te Kaikoura's statement, be expressed as a dollar amount (or as a percentage of another dollar amount), a statement describing how the charge will be calculated and what procedure is available to the subscriber to ascertain the amount at the time of, and following, the subscription.

The remuneration and other benefits Te Kaikoura or any associate of Te Kaikoura will receive in connection with the proportionate ownership scheme and the manner in which this remuneration and other benefits are to be paid or provided.

Material details concerning the manner in which all income and expenses relating to the proportionate ownership scheme are to be accounted for and the basis upon which profits are to be distributed.

A description and, if practicable, quantification of all liabilities (including contingent liabilities) that a subscriber for specified participatory securities will or may incur as a holder of specified participatory securities.

A brief description of any right of a subscriber, Te Kaikoura, or any other person to alter the terms of a subscriber's interest in the proportionate ownership scheme.

A brief description of any right of Te Kaikoura, a subscriber, or any other person to terminate a subscriber's interest in the proportionate ownership scheme.

(1) A statement as to whether or not a subscriber is entitled to sell his or her interest in the proportionate ownership scheme to another person and, if so, whether in the opinion of Te Kaikoura there is an established market for those sales.

(2) If any charges are payable by a subscriber on a sale, a brief description of those charges.

The names or descriptions of officers, employees, or agents of Te Kaikoura to whom enquiries about the proportionate ownership scheme can be made, and the addresses and business telephone numbers of those people.

(1) The names or descriptions of officers, employees, or agents of Te Kaikoura to whom complaints about the proportionate ownership scheme can be made, and the addresses and business telephone numbers of those people.

(2) If complaints about the proportionate ownership scheme can be made to a trustee or an industry body, a statement to this effect and the addresses and business telephone numbers of those people.

(3) A statement as to whether or not complaints about the proportionate ownership scheme can be made to an Ombudsman and, if so, the address and business telephone number of the Ombudsman.

A statement of the type of information (if any) that is required to be, or otherwise will be, given annually to subscribers by Te Kaikoura.

A statement—

• (a) describing the type of information that is required to be, or otherwise will be, available on request from Te Kaikoura; and

• (b) explaining how the request should be made; and

• (c) of whether any charge may be made for that information and the amount of the charge.

Any other information that would be material to a prospective subscriber's decision to invest in the proportionate ownership scheme.

The name and address of the registered valuer and a brief description of that registered valuer's qualifications.

A statement that the valuation report is made by the registered valuer as an independent registered valuer.

A statement that the registered valuer is making the valuation report for the purposes of the proportionate ownership scheme and for use by prospective subscribers for specified participatory securities.

A description of the real property and confirmation that the plans and specifications of the new buildings and improvements that are proposed in respect of the real property have been inspected by the registered valuer.

A list of any covenants, conditions, restrictions, easements, and any other estates or interests that appear on the certificate of title in respect of the real property as at the date of the registered valuer's report.

The present use of the real property.

(1) The nature of any regional or district plan rules, existing use rights, resource consents, or other statutory requirements relating to the real property.

(2) Whether or not the intended use of the real property for the purposes of the proportionate ownership scheme complies with the rules, rights, consents, or other statutory requirements referred to in subclause (1).

The rateable value of the real property.

(1) Current rental payable, and a statement as to whether or not that rental is being paid, in respect of any existing leasehold interest in the real property or any existing tenancy arrangement relating to the real property.

(2) Other material matters concerning any leasehold interests or tenancy arrangements.

The opinion of the registered valuer as to the capital value of the real property, free of charges, and the date of, and basis for, that capital value.

The basis upon which the registered valuer's valuation of the real property is made and any assumptions used in making the valuation, including any matters referred to the valuer as stated in clause 7 of Schedule 1

The amount of income that the real property can reasonably be expected to produce on an annual basis under the conditions prevailing at the date of the registered valuer's report.

Any other matters concerning the real property that the registered valuer considers to be material according to the standards usually applied by registered valuers in conducting valuations of real property.

A statement that the registered valuer has consented to the distribution of the registered valuer's report to prospective subscribers for specified participatory securities and that, as at the date of the report, the registered valuer has not withdrawn that consent.