Ann: GENERAL: PGC: PGC and Bath Street Capital

• Release Date: 30/09/15 17:42
• Summary: GENERAL: PGC: PGC and Bath Street Capital
• Price Sensitive: No
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					PGC
30/09/2015 17:42
GENERAL
PRICE SENSITIVE
REL: 1742 HRS Pyne Gould Corporation Limited

GENERAL: PGC: PGC and Bath Street Capital

NZX ANNOUNCEMENT

30 September 2015

PGC and Bath Street Capital

Pyne Gould Corporation ("PGC") today announced that it has commenced High
Court proceedings against Bath Street Capital Ltd and Mr Andrew Barnes, as
foreshadowed in May.

PGC yesterday commenced proceedings in the Auckland High Court against Bath
Street Capital Ltd and Mr Andrew Barnes seeking damages of not less than $22
million, together with interest and costs.

The claim concerns the sale in 2013 by PGC to Bath Street Capital Ltd (then
called Coulthard Barnes Capital Ltd) of PGC's shareholding in Perpetual Trust
Limited.  The amount claim represents unpaid consideration in respect of
carry rights pursuant to the share sale agreement as subsequently varied.

For more information, please contact: David Lewis  +64 21 976 119
End CA:00271063 For:PGC    Type:GENERAL    Time:2015-09-30 17:42:30