Ann: SSH: SNK: SPH Notice - Snakk Media Limited

• Release Date: 05/10/15 09:44
• Summary: SSH: SNK: SPH Notice - Snakk Media Limited
• Price Sensitive: No
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					SNK
05/10/2015 09:44
SSH
NOT PRICE SENSITIVE
REL: 0944 HRS Snakk Media Limited

SSH: SNK: SPH Notice - Snakk Media Limited

Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To: NZX Limited

And

To: Snakk Media Limited
Date this disclosure made: 5 October 2015
Date on which substantial holding began: 5 October 2015
Substantial product holder(s) giving disclosure
Full name(s): Snakk Media Limited
Summary of substantial holding
Class of quoted voting products: Ordinary shares (NZX code: SNK)
Summary for Snakk Media Limited
For this disclosure,--
(a) total number held in class: 40,772,634
(b) total in class: 265,132,984
(c) total percentage held in class: 15.378%
Details of relevant interests
Details for Snakk Media Limited
Nature of relevant interest(s): Power to control the disposition of the
Escrowed Shares (as defined below) pursuant to a restricted security
agreement between Far East Associated Traders Limited (FEAT) and Snakk Media
Limited (SNK) dated 5 October 2015 (the Restricted Security Agreement) (6
pages, attached).
Under the Restricted Security Agreement, FEAT has agreed not to sell or
otherwise dispose of or do or omit to do anything which could have the effect
of transferring effective ownership or control of any shares it holds as at
the date of the Restricted Security Agreement (the Escrowed Shares) until
after 31 December 2016 subject to certain limited exceptions set out below.
FEAT may sell or otherwise transfer any of the Escrowed Shares:
o with the approval of the directors who are not "interested" in the decision
(as that term is defined in the Companies Act 1993), SNK and NZX;
o to an "affiliate" of FEAT (being a person owned or controlled by, or under
common ownership or control with, FEAT and in relation to a family trust
includes any beneficiary of that trust), provided that such affiliate has
agreed to be bound by the escrow terms; or
o in connection with a takeover offer made in respect of SNK's shares under
the Takeovers Code or a similar scheme of arrangement.
These restrictions do not apply, and therefore no approval is needed, for
FEAT to grant a security interest in favour of a bona fide lender to FEAT.
For that relevant interest,--
(a) number held in class: 40,772,634
(b) percentage held in class: 15.378%
(c) current registered holder(s): Far East Associated Traders Limited
(d) registered holder(s) once transfers are registered:  Not applicable
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure: SNK became
a substantial product holder upon entry into the Restricted Security
Agreement with FEAT.
Additional information
Address(es) of substantial product holder(s):
Level 6
57 Symonds Street, Grafton
Auckland 1010, New Zealand
Contact details: Malcolm Lindeque, Tel: +64 21 464 392, Email:
[email protected]
Name of any other person believed to have given, or believed to be required
to give, a disclosure under the Financial Markets Conduct Act 2013 in
relation to the financial products to which this disclosure relates: Far East
Associated Traders Limited
Certification
I, Malcolm Lindeque, certify 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:00271267 For:SNK    Type:SSH        Time:2015-10-05 09:44:45