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- Release Date: 18/03/13 10:46
- Summary: GENERAL: SUM: QPE Funds Management Announces Sale of 19% of Summerset
- Price Sensitive: No
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SUM
18/03/2013 08:46
GENERAL
REL: 0846 HRS Summerset Group Holdings Limited
GENERAL: SUM: QPE Funds Management Announces Sale of 19% of Summerset
NZX AND MEDIA RELEASE
18 MARCH 2013
QPE FUNDS MANAGEMENT ANNOUNCES SALE OF 19% OF SUMMERSET
Summerset Group Holdings Limited has been advised by its major shareholder,
QPE Funds Management ("QPE") that on 16 March 2013 QPE entered into an
agreement with UBS New Zealand Limited to sell 40 million shares
(representing 18.6% of the total shares outstanding) in Summerset.
Following the sale QPE continues to hold 79.8 million shares (37.2% of the
total shares outstanding). QPE remains a significant shareholder in Summerset
and has advised that it is committed to supporting the future success of the
company, including maintaining its current representation on the Summerset
board.
Summerset chairman Rob Campbell said this change in share ownership is
another important step in the development of the company and creates a sound
shareholder base for further growth.
"The board is pleased to have continuing support from QPE and welcomes new
retail and institutional support as we address the many growth opportunities
ahead of us."
QPE has requested that Summerset Group Holdings limited seek a trading halt
for up to two days to enable the transaction to occur, which Summerset has
sought and obtained. Trading is expected to recommence no later than
Wednesday 20 March 2013.
ENDS
For investor relations enquiries:
Julian Cook
Chief Financial Officer
[email protected]
04 894 7310 or 029 894 7310
For media enquiries:
Tristan Saunders
General Manager, Sales and Marketing
[email protected]
04 894 7313 or 029 894 7313
End CA:00234231 For:SUM Type:GENERAL Time:2013-03-18 08:46:44
