Thursday, 21 June 2018


GENERAL: XRO: Craig Winkler Sells Part of Xero Shareholding

16 May 2017 09:44NZX

Craig Winkler Sells Part of Xero Shareholding to Fund Philanthropy

WELLINGTON, 16 May 2017 - Xero Limited (NZX: XRO, ASX: XRO) has been informed
by Craig Winkler, Non-Executive Director of the Xero Board and a
long-standing supporter of Xero, that Givia Pty Ltd, to fund its charitable
giving, has reduced its Xero shareholding to 10.5% (from 12.7% immediately
before the sale). Winkler is a Director of Givia, the trustee for a private
charitable trust. Winkler (via Givia) remains Xero''s second largest
individual shareholder after Xero CEO Rod Drury.

As a committed philanthropist, Winkler has informed Xero that he will seek to
distribute 100% of Givia''s assets over approximately a 10 year time frame.
Over that period, Givia will sell its portfolio holdings, including Xero
shares, to fund its charitable giving. Givia has stated its intention to
manage its shareholding sale processes in order to minimise impact on the

"We''re proud of Craig''s continued support of Xero including as one of our
Directors, and his significant commitment to philanthropy," Rod Drury, Xero
CEO said.  "For the market it will provide a larger free float and increased
liquidity in Xero.

"As Xero executes on the next stage of our global growth, we are seeing
leading global and regional institutional investors take positions in Xero.
It''s gratifying to see strong institutional demand and interest in Xero while
retaining a strong commitment from strategic shareholders," Drury said.

Further details are available in the substantial product holder notice
released to the market today.

About Xero
Xero is beautiful, easy-to-use online accounting software for small
businesses and their advisors. The company has over one million subscribers
in more than 180 countries. Xero seamlessly integrates with more than 500
apps. It was ranked No. 1 by Forbes as the World''s Most Innovative Growth
Company in both 2014 and 2015, while Canstar Blue rated Xero Australia''s best
accounting software in 2015 and 2016 based on research from 800 small

Media Contact
Alex Mercer
Xero Corporate Communications
+6421 502 112
End CA:00301214 For:XRO    Type:GENERAL    Time:2017-05-16 09:44:14
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