Ann: SSH: SUM: SSH - QPE Funds Management Pty

• Release Date: 17/05/13 18:03
• Summary: SSH: SUM: SSH - QPE Funds Management Pty
• Price Sensitive: No
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SUM
17/05/2013 16:03
SSH

REL: 1603 HRS Summerset Group Holdings Limited

SSH: SUM: SSH - QPE Funds Management Pty

Disclosure of movement of 1% or more in substantial holding or change in
nature of relevant interest or both?Sections 23 and 24, Securities Markets
Act 1988

Relevant event being disclosed: Disclosure of movement of 1% or more in
substantial holding
Date of relevant event: 17 May 2013
To: NZX Limited
And: Summerset Group Holdings Limited
Date this disclosure made: 17 May 2013
Date last disclosure made: 22 March 2013
Substantial security holder(s) giving disclosure
Name(s): QPE Funds Management Pty Limited, Perpetual Trustee Company Limited,
Quadrant Private Equity Services No. 2 Pty Limited, Quadrant Private Equity
Management No. 2 Pty Limited, QPE Co-Investment Pty Limited, The Macquarie
Summerset Co-Investment Trust and The Quay Summerset Co-Investment Trust
Contact details: Andrew Gilman
[email protected]
+61 2 9221 3044

Summary of substantial holding to which disclosure relates
Class of listed voting securities: Ordinary shares
Summary for QPE Funds Management Pty Limited
For this disclosure,--
(a) total number held in class: 50,000,000
(b) total in class: 215,918,535
(c) total percentage held in class: 23.157%
For last disclosure,--
(a) total number held in class: 80,761,132
(b) total in class: 215,918,535
(c) total percentage held in class: 37.404%

Summary for Perpetual Trustee Company Limited
For this disclosure,--
(a) total number held in class:  36,003,214
(b) total in class: 215,918,535
(c) total percentage held in class: 16.674%
For last disclosure,--
(a) total number held in class: 58,153,206
(b) total in class: 215,918,535
(c) total percentage held in class: 26.933%
Summary for Quadrant Private Equity Services No. 2 Pty Limited
For this disclosure,--
(a) total number held in class: 18,001,607
(b) total in class: 215,918,535
(c) total percentage held in class: 8.337%
For last disclosure,--
(a) total number held in class: 29,076,603
(b) total in class: 215,918,535
(c) total percentage held in class: 13.466%
Summary for Quadrant Private Equity Management No. 2 Pty Limited
For this disclosure,--
(a) total number held in class: 18,001,607
(b) total in class: 215,918,535
(c) total percentage held in class: 8.337%
For last disclosure,--
(a) total number held in class: 29,076,603
(b) total in class: 215,918,535
(c) total percentage held in class: 13.466%
Summary for QPE Co-Investment Pty Limited
For this disclosure,--
(a) total number held in class: 13,996,786
(b) total in class: 215,918,535
(c) total percentage held in class: 6.482%
For last disclosure,--
(a) total number held in class: 22,607,926
(b) total in class: 215,918,535
(c) total percentage held in class: 10.471%
Summary for The Macquarie Summerset Co-Investment Trust
For this disclosure,--
(a) total number held in class: 6,984,088
(b) total in class: 215,918,535
(c) total percentage held in class: 3.235%
For last disclosure,--
(a) total number held in class: 11,280,858
(b) total in class: 215,918,535
(c) total percentage held in class: 5.225%
Details of transactions and events giving rise to relevant event
Pursuant to a Block Trade Agreement dated 17 May 2013 with First New Zealand
Capital Securities Limited (copy attached), QPE Funds Management Pty Limited,
as manager of various funds that have beneficial interests in shares in
Summerset Group Holdings Limited, agreed to sell 30,761,132 shares in
Summerset Group Holdings Limited at $2.90 per share with settlement to occur
on a T+3 basis.

Details of relevant interests in substantial holding after relevant event
Details for QPE Funds Management Pty Limited
Nature of relevant interest(s):  QPE Funds Management Pty Limited is the
manager of the various funds that have beneficial interests in shares in
Summerset Group Holdings Limited.  Pursuant to the relevant investment
management contracts under which QPE Funds Management Pty Limited is
appointed as manager, it has the power to exercise, or to control the
exercise of, the rights to vote attached to such shares and the power to
acquire or dispose of, or control the acquisition or disposition of such
shares.  QPE Funds Management Pty Limited's relevant interest only arises due
to these investment management contracts, and beneficial ownership of the
relevant shares is held by the various funds.  QPE Funds Management Pty
Limited's ordinary business consists of the provision of investment
management services including the investment of other persons' funds.
Accordingly, the exemption in regulation 14 of the Securities Markets
(Substantial Security Holders) Regulations 2007 applies and no relevant
agreement document is attached.
For that relevant interest,--
(a) number held in class:  50,000,000
(b) percentage held in class:  23.157%
(c) current registered holder(s) of securities:  Perpetual Trustee
Company Limited and QPE Co-Investment Pty Limited
(d) registered holder(s) of securities once transfers registered:
Perpetual Trustee Company Limited and QPE Co-Investment Pty Limited
Details for Perpetual Trustee Company Limited
Nature of relevant interest(s):  Registered holder of shares in Summerset
Group Holdings Limited which are held by Perpetual Trustee Company Limited as
custodian for Quadrant Private Equity Services No. 2 Pty Limited and Quadrant
Private Equity Management No. 2 Pty Limited.
For that relevant interest,--
(a) number held in class:  36,003,214
(b) percentage held in class:  16.674%
(c) current registered holder(s) of securities:  Perpetual Trustee
Company Limited
(d) registered holder(s) of securities once transfers registered:
Perpetual Trustee Company Limited
Details for Quadrant Private Equity Services No. 2 Pty Limited as trustee of
Quadrant Private Equity No.2A
Nature of relevant interest(s):  Beneficial owner of shares in Summerset
Group Holdings Limited which are held by Quadrant Private Equity Services No.
2 Pty Limited as trustee for Quadrant Private Equity No.2A.
For that relevant interest,--
(a) number held in class:  18,001,607
(b) percentage held in class:  8.337%
(c) current registered holder(s) of securities:  Perpetual Trustee
Company Limited
(d) registered holder(s) of securities once transfers registered:
Perpetual Trustee Company Limited
Details for Quadrant Private Equity Management No. 2 Pty Limited as trustee
of Quadrant Private Equity No.2B
Nature of relevant interest(s):  Beneficial owner of shares in Summerset
Group Holdings Limited which are held by Quadrant Private Equity Management
No. 2 Pty Limited as trustee for Quadrant Private Equity No.2B.
For that relevant interest,--
(a) number held in class:  18,001,607
(b) percentage held in class:  8.337%
(c) current registered holder(s) of securities:  Perpetual Trustee
Company Limited
(d) registered holder(s) of securities once transfers registered:
Perpetual Trustee Company Limited
Details for QPE Co-Investment Pty Limited
Nature of relevant interest(s):  Registered holder of shares in Summerset
Group Holdings Limited which are held by QPE Co-Investment Pty Limited as
trustee for The Macquarie Summerset Co-Investment Trust, The Quay Summerset
Co-Investment Trust and The WPMA2 Summerset Co-Investment Trust.
For that relevant interest,--
(a) number held in class:  13,996,786
(b) percentage held in class:  6.482%
(c) current registered holder(s) of securities:  QPE Co-Investment Pty
Limited
(d) registered holder(s) of securities once transfers registered:  QPE
Co-Investment Pty Limited
Details for The Macquarie Summerset Co-Investment Trust
Nature of relevant interest(s):  Beneficial owner of shares in Summerset
Group Holdings Limited.
For that relevant interest,--
(a) number held in class:  6,984,088
(b) percentage held in class:  3.235%
(c) current registered holder(s) of securities:  QPE Co-Investment Pty
Limited
(d) registered holder(s) of securities once transfers registered:  QPE
Co-Investment Pty Limited

Additional information
Nature of connection between substantial security holders: Perpetual Trustee
Company Limited holds shares in Summerset Group Holdings Limited as custodian
for Quadrant Private Equity Services No. 2 Pty Limited and Quadrant Private
Equity Management No. 2 Pty Limited.  QPE Co-Investment Limited holds shares
in Summerset Group Holdings Limited as trustee for The Macquarie Summerset
Co-Investment Trust, The Quay Summerset Co-Investment Trust and The WPMA2
Summerset Co-Investment Trust. QPE Funds Management Pty Limited is the
manager of the various funds that hold shares in Summerset Group Holdings
Limited.
Address(es) of substantial security holder(s):
C/o- Quadrant Private Equity?Level 30, Deutsche Bank Place?126 Phillip
Street?Sydney, NSW 200?Australia
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: Summerset Group Holdings Limited

Declaration
I, Andrew Gilman, 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:00236387 For:SUM    Type:SSH        Time:2013-05-17 16:03:44