Ann: GENERAL: NZX: Annual NZX Listed Issuer Forum

• Release Date: 04/10/13 20:24
• Summary: GENERAL: NZX: Annual NZX Listed Issuer Forum
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					NZX
04/10/2013 17:24
GENERAL

REL: 1724 HRS NZX Limited

GENERAL: NZX: Annual NZX Listed Issuer Forum

NZX held its annual Listed Issuer Forum in Auckland yesterday, which was
attended by a record number of senior executives from listed companies.
Around 100 people from some 60 issuers attended the event.

Topics covered included:

- Overview of Issuers' disclosure and compliance responsibilities, presented
by NZX Regulation

- The Financial Markets Conduct Act and its impact on Issuers, presented by
Jeremy Muir, Partner, Minter Ellison Rudd Watts

- Continuous Disclosure Workshop, presented by NZX Regulation

- Governance and Directors' responsibilities, presented by the New Zealand
Institute of Directors

- NZX Update, presented by Tim Bennett, CEO, NZX

In his presentation, Tim Bennett provided an update on NZX's role; what is
happening in the markets; and what NZX is doing to support market development
and customers. Some of the highlights are below:

On NZX's role: "NZX performs three key roles in New Zealand: providing
returns to our shareholders, market development - taking a three to five year
view - and fulfilling our important obligations to run fair, orderly and
transparent markets.

"We are taking a significantly more balanced view of our roles than in the
past, but it's important to understand that these roles are complementary -
if we don't develop our markets for the long-term, or ensure there is trust
in the markets, we won't be able to meet the expectations of our
shareholders.

On performance of the market: "It has been a fantastic year for the market to
date with the index up 24%, driven by the interest rate cycles and New
Zealand's strong economic growth, especially compared to Australia.

"New Zealand is essentially back on the global investment map, starting with
the launch of Fonterra's Trading Among Farmers late last year, followed by
Mighty River Power, Z Energy, and the Meridian IPO currently underway, along
with a number of other smaller listings.

"We firmly believe the drivers of these changes are structural, driven by
growth in KiwiSaver funds under management. This is now being supported
across the financial services industry by investment into equity capital
markets roles, advisors, and in fund management.

On market development: "NZX is focused on a range of market development
initiatives including derivatives, liquidity enhancement, pipeline
development and a new growth market. Combined, these will deepen and broaden
the market to provide more investment opportunities, support fund managers
and brokers, and increase activity in the market and coverage of issuers,
which will be to the benefit all issuers.

On listed issuer services: "Across NZX we are focused on improving our issuer
services - we are promoting much more of a customer service culture,
including internal service levels, and a formal issuer survey at year-end.

"In addition, we are facilitating greater investor engagement, including
through NZX's Pilot Research Programme, which aims to increase research
coverage on listed companies. This was evidenced this week with the launch of
a range of independent research on Meridian to the public.

"In our regulation team, we have increased resourcing, and there is a much
greater focus on providing valuable guidance for our issuers."

For more information please contact:
Kate McLaughlin
Corporate Communications
M: 027 533 4529
E: [email protected]
End CA:00242024 For:NZX    Type:GENERAL    Time:2013-10-04 17:24:29