Ann: GENERAL: MMH: New Zealand Markets Disciplinary Tribunal Censure

• Release Date: 21/08/14 09:05
• Summary: GENERAL: MMH: New Zealand Markets Disciplinary Tribunal Censure
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					MMH
21/08/2014 09:05
GENERAL

REL: 0905 HRS Marsden Maritime Holdings Limited (NS)

GENERAL: MMH: New Zealand Markets Disciplinary Tribunal Censure

The Chairman of Marsden Maritime Holdings Limited (formerly known as
Northland Port Corporation (NZ) Limited) commented today on the New Zealand
Markets Disciplinary Tribunal's Censure of the Company regarding a breach of
the NZX Main Board Listing Rule 9.3.1 (NZMDT 8/14).

Chairman, Sir John Goulter, said "the Board of the Company is extremely
disappointed to learn that the Company has been censured in relation to what
the Board considers is no more than a technical question decided by the
Tribunal on the proper interpretation of a listing rule which touches on a
determination made by the Board as to the "associate" status of a
shareholder, and which, as the Tribunal noted, based on submissions to the
Tribunal from the NZX, was made by the Board in 'an honest belief that its
actions were correct'".

Sir John noted that against the background of this acknowledgement; the
Tribunal's decision not to impose a penalty on the Company; the fact that the
Company resolution which related to the Tribunal's determination was not
impugned, and that the Tribunal decided to make no award of costs against the
Company, the Board had to question the need for the Company to be publicly
censured.

ENDS

Issued by:
Sir John Goulter KNZM, JP
CHAIRMAN

For further information, please contact:
Graham Wallace
Chief Executive
(09) 432 5051, (027) 476 1037
End CA:00254161 For:MMH    Type:GENERAL    Time:2014-08-21 09:05:19