LPC
01/08/2014 15:01
SSH
REL: 1501 HRS Lyttelton Port Company Limited (NS)
SSH: LPC: SSH Notice - Christchurch City Holdings Limited
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: Change in size and nature of relevant
interest
Date of relevant event: 1 August 2014
To: NZX Limited
And: Lyttelton Port Company Limited
Date this disclosure made: 1 August 2014
Date last disclosure made: 18 May 2011
Substantial security holder(s) giving disclosure
Name(s): Christchurch City Holdings Limited
Contact details: Bob Lineham, Tel: 03 941 8475, Email:
[email protected]
Summary of substantial holding to which disclosure relates
Class of listed voting securities: Ordinary Shares
Summary for: Christchurch City Holdings Limited
For this 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%
For last disclosure,--
(a) total number held in class: 80,912,627
(b) total in class: 102,261,279
(c) total percentage held in class: 79.123%
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:
(1) Port Otago Limited (POL) has entered into a lock up agreement (Lock Up
Agreement) with Christchurch City Holdings Limited (CCHL) dated 1 August 2014
for POL to sell 15,825,477 ordinary shares in Lyttelton Port Company Limited
(LPC) to CCHL pursuant to a full takeover offer to be made by CCHL in
accordance with the Takeovers Code. The consideration for the sale of the
shares will be cash of
$3.95 per LPC share.
The offer will be subject to the condition (among others) that CCHL receives
acceptances which will result in CCHL becoming the holder or controller of
more than 90% of the voting rights in LPC.
(2) In addition, CCHL has acquired 587,230 ordinary shares in LPC on-market
since the date of CCHL's last disclosure (being 0.574% of the total ordinary
shares in LPC), for an average consideration of $2.28 per share.
Details of relevant interests in substantial holding after relevant event
Details for Christchurch City Holdings Limited
Nature of relevant interest(s): Power to acquire or dispose of, or to control
the acquisition or disposition of, the security. The Lock Up Agreement is
attached (11 pages).
For that relevant interest,--
(a) number held in class: 15,825,477
(b) percentage held in class: 15.476%
(c) current registered holder(s) of securities: Port Otago Limited
(d) registered holder(s) of securities once transfers registered:
Christchurch City Holdings Limited
Nature of relevant interest(s): Legal and beneficial owner.
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: Christchurch City Holdings
Limited
(d) registered holder(s) of securities once transfers registered: N/A
Additional information
Nature of connection between substantial security holders: None
Address(es) of substantial security holder(s): Christchurch City Holdings
Limited, 53 Hereford Street, Christchurch 8140
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, Bob 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:00253412 For:LPC Type:SSH Time:2014-08-01 15:01:37
