LPC
08/09/2014 12:15
SSH
REL: 1215 HRS Lyttelton Port Company Limited (NS)
SSH: LPC: SSH Notice - Christchurch City Holdings Limited (CCHL)
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 substantial
holding
Date of relevant event: 8 September 2014
To: NZX Limited
And: Lyttelton Port Company Limited (LPC)
Date this disclosure made: 8 September 2014
Date last disclosure made: 1 August 2014
Substantial security holder(s) giving disclosure
Name(s): Christchurch City Holdings Limited (CCHL)
Contact details: Robert Lineham, Tel: 03 941 8475, Email:
[email protected]
Summary of substantial holding to which disclosure relates
Class of listed voting securities: Ordinary shares in LPC (Ordinary Shares)
Summary for CCHL
For this disclosure, -
(a) total number held in class: 98,405,364
(b) total in class: 102,261,279
(c) total percentage held in class: 96.229%
For last disclosure, -
(a) total number held in class: 97,325,334
(b) total in class: 102,261,279
(c) total percentage held in class: 95.173%
Details of transactions and events giving rise to relevant event
On 25 August 2014, CCHL made a full cash offer under the Takeovers Code to
acquire all of the Ordinary Shares that it does not already own (the Offer).
The offer price under the Offer is $3.95 per Ordinary Share. A copy of the
offer document dated 25 August 2014 in respect of the Offer, which sets out
the conditions of the Offer, was sent to NZX on 25 August 2014.
Prior to making the Offer, CCHL entered into a lock-up agreement with Port
Otago Limited (Port Otago) dated 1 August 2014 (the Lock-Up Agreement).
Under the Lock-Up Agreement, Port Otago has agreed to accept the Offer in
respect of its holding of 15,825,477 Ordinary Shares. A copy of the Lock-Up
Agreement was attached to a previous event disclosure by CCHL sent to NZX on
1 August 2014.
During the period from 25 August 2014 up to 8 September 2014 a number of LPC
shareholders have accepted the Offer, resulting in CCHL acquiring a relevant
interest in a further 1,080,030 Ordinary Shares for an aggregate price
payable of $4,266,118.50 (reflecting the Offer price of $3.95 per share).
Details of relevant interests currently in substantial holding after relevant
event
Details for CCHL
Nature of relevant interest(s): CCHL continues to be the registered holder
and beneficial owner of 81,499,857 Ordinary Shares held by it.
For that relevant interest,--
(a) number held in class: 81,499,857
(b) percentage held in class: 79.698%
(c) current registered holder(s) of securities: CCHL
(d) registered holder(s) of securities once transfers registered: N/A
Nature of relevant interest: Power to acquire Ordinary Shares under the
Lock-Up Agreement.
For that relevant interest, -
(a) number held in class: 15,825,477
(b) percentage held in class: 15.476%
(c) current registered holder of securities: Port Otago
(d) registered holder of securities once transfer registered: CCHL
Nature of relevant interest(s): Registered holder and beneficial owner of
securities conditional on the Offer becoming unconditional in all respects.
For that relevant interest,--
(a) number held in class: 1,080,030
(b) percentage held in class: 1.056%
(c) current registered holder(s) of securities: Various
(d) registered holder(s) of securities once transfers registered: CCHL
Additional information
Nature of connection between substantial security holders: Not applicable
Address(es) of substantial security holder(s): Christchurch City Holdings
Limited, Floor 2, Equitable House, 77 Hereford Street, Christchurch 8011
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: Port Otago Limited
Declaration
I, Robert Lineham, 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:00254986 For:LPC Type:SSH Time:2014-09-08 12:15:59