SUM
18/10/2013 16:56
SSH
REL: 1656 HRS Summerset Group Holdings Limited
SSH: SUM: SSH - First NZ Capital Group Limited
Disclosure of ceasing to have substantial holding
Section 25, Securities Markets Act 1988
To: NZX Limited
And: Summerset Group Holdings Limited
Date this disclosure made: 18 October 2013
Date last disclosure made: 18 October 2013
Substantial security holder(s) giving disclosure
Name(s): First NZ Capital Group Limited
Contact details: Martin Stearne, + 64 9 302 5523, [email protected]
Date on which substantial security holder(s) ceased to have substantial
holding: 18 October 2013
Summary of previous substantial holding to which disclosure relates
Class of listed voting securities: Summerset Group Holdings Limited ordinary
shares
Summary for: First NZ Capital Group Limited
For last disclosure,--
(a) total number held in class: 19,235,979
(b) total in class: 215,918,535
(c) total percentage held in class: 8.91%
For current holding after ceasing to have substantial holding:
(a) total number held in class: 8,348,882
(b) total in class: 215,918,535
(c) total percentage held in class: 3.87%
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: The relevant interest arose as a result of First
NZ Capital Group Limited being the holding company of Harbour Asset
Management Limited and First NZ Capital Securities Limited, which
collectively had a relevant interest in 8.9% of the shares in Summerset Group
Holdings (Summerset) following a purchase and sale commitment by First NZ
Capital Securities Limited in respect of 5.79% of the ordinary shares in
Summerset on 18 October 2013. First NZ Capital Securities Limited has now
agreed to dispose of 5.79% of the ordinary shares in Summerset on 18 October
2013 in off-market transactions to retail and institutional investors on a
T+3 basis at a price of $3.10 per share (an aggregate of $38,750,000).
Harbour Asset Management Limited acquired 0.75% of the ordinary shares in
Summerset on 18 October 2013 in an off-market transaction. First NZ Capital
Group Limited's substantial holding has accordingly ceased.
Additional information
Nature of connection between substantial security holders: N/A
Address(es) of substantial security holder(s): Level 14, 171 Featherston
Street, Wellington.
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: None
Declaration
I, Martin William Stearne, 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:00242603 For:SUM Type:SSH Time:2013-10-18 16:56:59
