FSF 2.83% $4.72 fonterra shareholders' fund units

Ann: SSH: FSF: SSH Notice - FSF Management Company Limited

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    • Release Date: 25/09/15 14:59
    • Summary: SSH: FSF: SSH Notice - FSF Management Company Limited
    • Price Sensitive: No
    • Download Document  5.27KB
    					FSF
    25/09/2015 14:59
    SSH
    NOT PRICE SENSITIVE
    REL: 1459 HRS Fonterra Shareholders' Fund (NS)
    
    SSH: FSF: SSH Notice - FSF Management Company Limited
    
    Securities Markets (Substantial Security Holders) Regulations 2007
    
    Disclosure of movement of 1% or more in substantial holding or change in
    nature of relevant interest or both
    
    Sections 23 and 24, Securities Markets Act 1988
    
    Relevant event being disclosed:   Movement of 1% or more in the substantial
    holding
    Date of relevant event:  24 September 2015
    
    To: NZX Limited
    
    And:  Fonterra Co-operative Group Limited ("Fonterra")
    
    Date this disclosure made:  25 September 2015
    Date last disclosure made:  7 August 2014
    
    Substantial security holder(s) giving disclosure
    Name(s):  FSF Management Company Limited ("Manager")
    
    Contact details:  Mike Cronin, +64 9 374 9000
    [email protected]
    
    Summary of substantial holding to which disclosure relates
    
    Class of listed voting securities:  Co-operative shares
    Summary for:  FSF Management Company Limited
    
    For this disclosure,--
    (a)  total number held in class:  94,474,734
    
    (b)  total in class:  1,599,093,577
    
    (c)  total percentage held in class:  5.9080%
    
    For last disclosure,--
    (a)  total number held in class:  113,542,226
    
    (b)  total in class:  1,597,833,461
    (c)  total percentage held in class: 7.1060%
    
    Details of transactions and events giving rise to relevant event
    Details of the transactions or other events requiring disclosure under the
    instructions to this form:
    
    (a) the date of the transaction or event: 7 August 2014 -  24 September 2015
    (b) the nature of the transaction or event: Transfer of additional
    Co-operative shares to Fonterra Farmer Custodian Limited ("Custodian") (in
    its capacity as custodian for the trustee ("Trustee") of the Fonterra
    Economic Rights Trust).
     Transfer of Co-operative shares by the Custodian upon the redemption of
    units in the Fonterra Shareholders' Fund ("Fund") previously issued by the
    Manager, in accordance with the terms of the Fonterra Shareholders' Fund Unit
    Trust Deed.
    
    (c) the name of any other party or parties to the transaction or event (if
    known and if not an on-market trade):  N/A
    (d) the consideration, expressed in New Zealand dollars, paid or received for
    the acquisition, disposal, or change in nature of the relevant interest: In
    consideration for the transfer of each Co-operative share to the Custodian
    (acting in its capacity as custodian for the Trustee) the Manager issued to
    (or on behalf of) the transferor of that Co-operative share one unit in the
    Fund, in accordance with the terms of the Fonterra Shareholders' Fund Unit
    Trust Deed.
    In consideration for the redemption of a unit in the Fund, the Manager
    instructed the Custodian to transfer a Co-operative share (in respect of
    which the Economic Rights were held by the Custodian on behalf of the
    Trustee) to the unit holder, in accordance with the terms of the Fonterra
    Shareholders' Fund Unit Trust Deed
    (e) the number of securities to which the transaction or event related:
     Total acquisitions:  8,912,786
     Total dispositions:  27,980,278
     Net decrease: 19,067,492
    
    Details of relevant interests in substantial holding after relevant event
    Details for:  FSF Management Company Limited
    
    Nature of relevant interest(s):  Under the Custody Trust Deed for the
    Fonterra Economic Rights Trust, the Custodian holds the Economic Rights in
    Co-operative shares on trust for the Trustee.
     Under clause 4.7 of the Custody Trust Deed for the Fonterra Economic Rights
    Trust, the Manager, in its capacity as manager of the Fund, has the power to
    direct the Custodian to dispose of a Co-operative share to a permitted
    person, whenever the Manager redeems a unit in the Fund held by that
    permitted person.
     Under clause 4.9 of the Custody Trust Deed, the Manager covenants that it
    will not, directly or indirectly, at any time request, direct or instruct the
    Custodian to cast any votes attached to or arising from Co-operative shares
    held under the Custody Trust Deed, requisition or join in the requisitioning
    any meeting of shareholders of Fonterra, propose or join in proposing any
    matter for discussion or resolution at any meeting of shareholders of
    Fonterra, or attend or speak at any meeting of shareholders of Fonterra,
    unless invited to do so by Fonterra. This qualification does not prevent the
    Manager from directing the Custodian how to exercise any voting right arising
    under sections 116 and 117 of the Companies Act 1993.
    For that relevant interest,--
    
    (a) number held in class:  94,474,734
    
    (b) percentage held in class:  5.9080%
    
    (c) current registered holder(s) of securities:  Fonterra Farmer Custodian
    Limited
    
    (d) registered holder(s) of securities once transfers registered:  N/A
    
    Additional information
    Nature of connection between substantial security holders:  N/A
    
    Address(es) of substantial security holder(s): 9 Princes Street, Auckland
    1010, New Zealand
    Name of any other person believed to have given, or believed to be required
    to give, a disclosure under the Act in relation to the securities to which
    this disclosure relates: Fonterra Farmer Custodian Limited
    
    Declaration
    I, Mike Cronin, declare that, to the best of my knowledge and belief, the
    information contained in this disclosure is correct and that I am duly
    authorised to make this disclosure by all persons for whom it is made.
    End CA:00270788 For:FSF    Type:SSH        Time:2015-09-25 14:59:31
    				
 
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