LPC
29/09/2014 10:23
SSH
REL: 1023 HRS Lyttelton Port Company Limited (NS)
SSH: LPC: SSH Notice - Port Otago Limited
Disclosure of ceasing to have a substantial holding
Section 25, Securities Markets Act 1988
Relevant event being disclosed: Change in nature of relevant interest
Date of relevant event: 29 September 2014
To: NZX Limited
And: Lyttelton Port Company Limited
Date this disclosure made: 29 September 2014
Date last disclosure made: 19 September 2014
Substantial security holder(s) giving disclosure
Name(s): Port Otago Limited
Contact details:
Nathanael Starrenburg, Tel: 09 921 4300, Email:
[email protected]
Summary of previous substantial holding to which disclosure relates
Class of listed voting securities: Ordinary Shares
Summary for: Port Otago Limited
For last disclosure,--
(a) total number held in class: 15,825,477
(b) total in class: 102,261,279
(c) total percentage held in class: 15.476%
For current holding after ceasing to have substantial holding,--
(a) total number held in class: 0
(b) total in class: 102,261,279
(c) total percentage held in class: 0%
Details of transactions and events giving rise to person ceasing to have
substantial holding
Details of the transactions or other events requiring disclosure under the
instructions to this form:
Port Otago Limited ("POL") has entered into a lock up agreement ("Lock Up
Agreement") with Christchurch City Holdings Limited ("CCHL") dated 1 August
2014 for POL to sell 15,825,477 ordinary shares in Lyttelton Port Company
Limited ("LPC") to CCHL pursuant to a full takeover offer to be made by CCHL
in accordance with the Takeovers Code. The consideration for the sale of the
shares was to be cash of $3.95 per LPC share. The Lock Up Agreement was
attached to a substantial security holder notice released by POL on 1 August
2014.
CCHL made the full takeover offer in accordance with the Takeovers Code on 25
August 2014 and POL accepted the offer for all of its shares in LPC (being
15,825,477 ordinary shares) on 19 September 2014. CCHL has now paid the
offer price to POL. Accordingly, pursuant to the terms of the offer, legal
and beneficial ownership of the shares in LPC held by POL has now passed to
CCHL.
Additional information
Nature of connection between substantial security holders: Not applicable
Address(es) of substantial security holder(s): Not applicable
Name of any other person believed to have given, or believed to be required
to give, a disclosure under the Act in relation to the securities to which
this disclosure relates: Christchurch City Holdings Limited
Declaration
I, Stephen Connolly, declare that, to the best of my knowledge and belief,
the information contained in this disclosure is correct and that I am duly
authorised to make this disclosure by all persons for whom it is made.
End CA:00255801 For:LPC Type:SSH Time:2014-09-29 10:23:16
