Ann: GENERAL: NZX: Takeovers Panel & NZX sign Memorandum of...

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    • Release Date: 04/05/15 10:18
    • Summary: GENERAL: NZX: Takeovers Panel & NZX sign Memorandum of Understanding
    • Price Sensitive: No
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    					NZX
    04/05/2015 10:18
    GENERAL
    NOT PRICE SENSITIVE
    REL: 1018 HRS NZX Limited
    
    GENERAL: NZX: Takeovers Panel & NZX sign Memorandum of Understanding
    
    NZX is pleased to announce it has signed a Memorandum of Understanding (MoU)
    with the Takeovers Panel (the Panel). The MoU sets out a framework for
    engagement and cooperation between the two regulators, taking into account
    their respective roles, notably:
    
    o In the case of NZX, the regulation of issuers and participants
    operating on NZX's licensed markets
    o In the case of the Panel, oversight of takeovers and other
    change-of-control transactions regulated by the Takeovers Code, involving
    Code companies in New Zealand's securities markets
    
    NZX Head of Market Supervision Joost van Amelsfort commented: "This
    memorandum of understanding reflects a desire by our two organisations to
    work more closely together and support each other in our respective
    regulatory functions, against a backdrop of new legislation and a changing
    market environment."
    
    "Ultimately, cooperation between our organisations and the sharing of
    information further assists NZX in its market surveillance activities and
    contributes to the discharge of NZX's regulatory responsibilities - both of
    which are fundamental to the operation of well functioning and vibrant
    markets."
    
    Takeovers Panel Chief Executive Margaret Bearsley commented: "The Takeovers
    Panel and NZX recognise the importance of effective regulation of New
    Zealand's securities markets to drive investor confidence in the integrity of
    those markets."
    
    The MoU has been published on the NZX and Takeovers Panel websites and also
    is attached to this announcement.
    
    For further information please contact:
    Kate McLaughlin
    Corporate Communications
    T: 09 309 3654
    M: 027 533 4529
    E: [email protected]
    
    About NZX Limited
    NZX builds and operates capital, risk and commodity markets and the
    infrastructure required to support them. We provide high quality information,
    data and tools to support business decision making. We aim to make a
    meaningful difference to wealth creation for our shareholders and the
    individuals, businesses and economies in which we operate. To learn more
    about NZX, please visit: www.nzxgroup.com
    
    About the Takeovers Panel
    The Takeovers Panel is a body corporate established under the Takeovers Act
    1993. The role of the Panel and the Code is to ensure that all shareholders
    have a fair opportunity to participate in control-change transactions in Code
    companies (such as takeovers and allotments or acquisitions of parcels of
    shares). The Code also ensures that shareholders have adequate information to
    assist their decision-making for these transactions.
    To learn more about the Panel please visit: www.takeovers.govt.nz
    End CA:00263843 For:NZX    Type:GENERAL    Time:2015-05-04 10:18:29
    				
 
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