Ann: GENERAL: CNU: Unsolicited offer for small shareholders

• Release Date: 21/11/14 08:57
• Summary: GENERAL: CNU: Unsolicited offer for small shareholders
• Price Sensitive: No
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					CNU
21/11/2014 08:57
GENERAL

REL: 0857 HRS Chorus Limited (NS)

GENERAL: CNU: Unsolicited offer for small shareholders

STOCK EXCHANGE ANNOUNCEMENT

21 November 2014

Unsolicited offer for small shareholders

Zero Commission NZ Limited has notified Chorus of its intention to write to
selected Chorus shareholders with an offer to buy their shares at NZ$1.90 per
share. The market price for Chorus shares was NZ$2.08 per share as at close
of NZX trading on 20 November 2014.

Zero Commission's offer is expected to open on 22 November 2014 and close on
23 December 2014. However, Zero Commission may make further offers over the
next six months.

Chorus does not endorse Zero Commission's current, or any subsequent, offer.

Shareholders are under no obligation to accept Zero Commission's offer or to
take any other action. Shareholders accepting the offer may cancel their
acceptance up to 10 working days after acceptance.

Chorus recommends that shareholders who receive an offer from Zero
Commission:

- read Zero Commission's disclosure document and offer terms carefully;

- seek independent financial and/or legal advice if they are uncertain
about the offer; and
- check Chorus' most recent share price at
www.nzx.com/markets/NZSX/securities/CNU or in daily newspapers.

ENDS

For further information:

Ian Bonnar
GM Corporate Relations
Mobile: +64 (27) 215 7564
Email: [email protected]

Brett Jackson
Investor Relations Manager
Phone: +64 4 896 4039
Mobile: +64 (27) 488 7808
Email: [email protected]
End CA:00257932 For:CNU    Type:GENERAL    Time:2014-11-21 08:57:53