LPC
19/09/2014 12:05
TAKEOVER
REL: 1205 HRS Lyttelton Port Company Limited (NS)
TAKEOVER: LPC: Notice That Takeover Offer Has Become Unconditional
19 September 2014
To: Lyttelton Port Company Limited
41 Chapmans Road
Hillsborough
Christchurch 8022
Attention: Jonathan Gardiner
To: The Takeovers Panel
Level 3, Solnet House
70 The Terrace
PO Box 1171
Wellington 6011
To: NZX Limited
Level 2, NZX Centre
11 Cable Street
Wellington 6011
By email: [email protected][email protected][email protected]
NOTICE THAT TAKEOVER OFFER HAS BECOME UNCONDITIONAL AND NOTICE OF DOMINANT
OWNERSHIP
1. I refer to the Christchurch City Holdings Limited (CCHL) offer document
dated 25 August 2014 (the Offer Document) in respect of CCHL's offer to
acquire all of the ordinary shares in Lyttelton Port Company Limited (LPC)
that CCHL does not already own (the Offer).
2. The Offer was subject to the conditions set out in paragraphs 4.2 (90%
acceptances), 4.3 (payment of special dividend) and 5.1 (prohibited actions
by the LPC group) of the Offer Document (the Conditions).
3. On 17 September 2014, CCHL waived the conditions set out in paragraph 5.1
of the Offer Document (prohibited actions by the LPC group).
4. On 18 September 2014, LPC paid a fully imputed special dividend of $0.20
cents per share, thereby satisfying the condition set out in paragraph 4.3 of
the Offer Document (payment of special dividend).
5. CCHL has now received irrevocable acceptances in respect of ordinary
shares in LPC which, on registration of the transfer of those shares (when
taken together with the ordinary shares in LPC already held by CCHL) will
result in CCHL holding 90% or more of the voting rights in LPC. Accordingly,
the last remaining Condition, that set out in paragraph 4.2 of the Offer
Document (90% acceptances), has been satisfied.
6. In accordance with Rule 49C(3) of the Takeovers Code, CCHL gives notice
that the Offer has become unconditional in all respects.
7. As at the time of this notice, and as a result of acceptances of the
Offer, CCHL holds or controls 90% or more of the voting rights in LPC. In
accordance with Rule 51 of the Takeovers Code, CCHL therefore gives notice
that it has become a "dominant owner" in LPC for the purposes of Part 7 of
the Takeovers Code.
Yours faithfully
Robert Alfred Lineham
Chief Executive Officer
Christchurch City Holdings Limited
End CA:00255448 For:LPC Type:TAKEOVER Time:2014-09-19 12:05:53
