Ann: SSH: TIL: SSH - The Business Bakery L.P.

• Release Date: 18/06/13 15:19
• Summary: SSH: TIL: SSH - The Business Bakery L.P.
• Price Sensitive: No
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TIL
18/06/2013 13:19
SSH

REL: 1319 HRS Trilogy International Limited

SSH: TIL: SSH - The Business Bakery L.P.

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: Movement of 1% or more of relevant interest
Date of relevant event: 18 June 2013
To: NZSX
And:  Trilogy International Limited
Date this disclosure made: 18 June 2013
Date last disclosure made: 21 December 2011
Substantial security holder(s) giving disclosure
Name(s): The Business Bakery LP
Contact details: Mr Stephen Sinclair
Tel: +64 9 367 9464
Email: [email protected]
Summary of substantial holding to which disclosure relates
Class of listed voting securities: Ordinary shares (TIL)
Summary for: The Business Bakery LP
For this disclosure,--
(a) total number held in class: 30,063,841
(b) total in class: 61,298,740
(c) total percentage held in class: 49.044%
For last disclosure,--
(a) total number held in class: 30,063,841
(b) total in class: 54,065,464
(c) total percentage held in class: 55.606%

In addition, The Bakery holds 720,653 unlisted non-voting shares, which may
be reclassified as listed voting shares by notice to Trilogy.
Class of listed voting securities: Series 2 Warrants (ECOWB)
Summary for: The Business Bakery LP
For this disclosure,--
(a) total number held in class: 0
(b) total in class: 0
(c) total percentage held in class: 0.00%
For last disclosure,--
(a) total number held in class: 720,653
(b) total in class: 2,525,643
(c) total percentage held in class: 28.533%

Details of transactions and events giving rise to relevant event
Acquisition of 720,653 unlisted non-voting shares through exercise of 720,653
Series 2 Warrants for $1 per warrant.  The shares were issued as unlisted
non-voting shares with the agreement of Trilogy, to ensure compliance with
the Takeovers Code, although the shares could in future be reclassified as
voting shares by notice in writing to Trilogy. Otherwise the non-voting
shares have the same rights as ordinary shares.  The Bakery's percentage
shareholding of voting ordinary shares has been reduced by other holders
exercising warrants and recent Trilogy placements (the Bakery has not sold
any shares).

Details of relevant interests in substantial holding after relevant event
Details for: The Business Bakery LP
Nature of relevant interest(s): For that relevant interest,--
(a) number held in class: 30,063,841 voting ordinary shares and 720,653
unlisted non-voting shares
(b) percentage held in class: 49.044% voting ordinary shares and 100%
unlisted non-voting shares
(c) current registered holder(s) of securities: The Business Bakery LP
(d) registered holder(s) of securities once transfers registered: The
Business Bakery LP
Additional information
Nature of connection between substantial security holders: N/A
Address(es) of substantial security holder(s):
c/- Chapman Tripp
Level 35, ANZ Centre
2329 Albert Street
Auckland 1010

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: N/A
Geoff Ross, Grant Baker and Stephen Sinclair are also directors of Trilogy
International Limited, and directors of the general partner of The Business
Bakery LP and their associated family trusts are limited partners in that
limited partnership.  This substantial security holder disclosure notice also
constitutes disclosure for each of them under the directors and officer
disclosure requirements.

Declaration
I, Stephen Sinclair, 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:00237545 For:TIL    Type:SSH        Time:2013-06-18 13:19:34