Ann: SSH: SNK: SPH Notice - Far East Associated Traders Limited

• Release Date: 05/10/15 09:43
• Summary: SSH: SNK: SPH Notice - Far East Associated Traders Limited
• Price Sensitive: No
• Download Document  3.87KB

					SNK
05/10/2015 09:43
SSH
NOT PRICE SENSITIVE
REL: 0943 HRS Snakk Media Limited

SSH: SNK: SPH Notice - Far East Associated Traders Limited

Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
To:  NZX Limited

And

To: Snakk Media Limited
Relevant event being disclosed: change in nature of relevant interest
Date of relevant event: 5 October 2015
Date this disclosure made: 5 October 2015
Date last disclosure made: 13 January 2014
Substantial product holder(s) giving disclosure
Full name(s): Far East Associated Traders Limited
Summary of substantial holding
Class of quoted voting products: Ordinary shares (NZX code: SNK)
Summary for Far East Associated Traders 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%
For last disclosure,--
(a) total number held in class: 41,132,634
(b) total in class: 262,862,984
(c) total percentage held in class: 15.648%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
On 5 October 2015, Far East Associated Traders Limited (FEAT) entered into a
restricted security agreement (the Restricted Security Agreement) with Snakk
Media Limited (SNK) (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 Limited;
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.
As a consequence of the Restricted Security Agreement, there is a
qualification on the power of FEAT to dispose of, or control the disposal of,
the SNK shares it holds.
Details after relevant event
Details for Far East Associated Traders Limited
Nature of relevant interest(s): Registered holder and beneficial owner,
subject to the restrictions on transfer outlined above.
For that relevant interest,--
(a) number held in class: 40,772,634
(b) total in class: 265,132,984
(c) current registered holder(s): Far East Associated Traders Limited
(d) registered holder(s) once transfers are registered: not applicable
Additional information
Address(es) of substantial product holder(s):
Far East Associated Traders Limited
Rm C 16F On Hing Building
1-9 On Hing Terrace
Central Hong Kong
Contact details: Derek Handley, Tel: C/o- Baker Tilly, +852 2525 0171, 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: Snakk
Media Limited.
Certification
I, Derek Handley, 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:00271266 For:SNK    Type:SSH        Time:2015-10-05 09:43:52