Ann: BUYBACK: SPK: Spark New Zealand announces on-market share buyback

• Release Date: 02/06/15 09:32
• Summary: BUYBACK: SPK: Spark New Zealand announces on-market share buyback
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					SPK
02/06/2015 09:32
BUYBACK
PRICE SENSITIVE
REL: 0932 HRS Spark New Zealand Limited

BUYBACK: SPK: Spark New Zealand announces on-market share buyback

Market Announcement

2 June 2015

Spark New Zealand announces on-market share buyback

Spark New Zealand has announced today that it plans to undertake an on-market
share buyback of up to 40 million ordinary shares for an aggregate purchase
price of up to NZ$100 million during the remainder of the 2015 calendar year.
 The ordinary shares will be acquired on the NZX Main Board, the stock
exchange on which Spark New Zealand is listed in New Zealand.

Following recent divestments, including Telecom Rentals Limited and its 60%
stake in Telecom Cook Islands, Spark New Zealand's balance sheet is now
under-levered. The purpose of the on-market share buyback is to return
gearing to a more appropriate level for the Company.

Spark New Zealand remains committed to maintaining a single 'A band' credit
rating from Standard & Poor's.

-ENDS-

For media queries, please contact:
Richard Llewellyn
Head of Corporate Communications +64 (0) 27 523 2362

For investor relations queries, please contact:
Mark Laing
General Manager Corporate Finance +64 (0) 27 227 5890
End CA:00265097 For:SPK    Type:BUYBACK    Time:2015-06-02 09:32:23