LPC
01/08/2014 14:24
SSH
REL: 1424 HRS Lyttelton Port Company Limited (NS)
SSH: LPC: SSH Notice - Port Otago 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 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: 12 April 2006
Substantial security holder(s) giving disclosure
Name(s): Port Otago Limited
Contact details:
Nathanael Starrenburg, Tel: 09 921 4300, Email:
[email protected]
Summary of substantial holding to which disclosure relates
Class of listed voting securities: Ordinary Shares
Summary for: Port Otago Limited
For this disclosure,--
(a) total number held in class: 15,825,477
(b) total in class: 102,261,279
(c) total percentage held in class: 15.476%
For last disclosure,--
(a) total number held in class: 15,691,167
(b) total in class: 102,261,279
(c) total percentage held in class: 15.344%
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:
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.
Details of relevant interests in substantial holding after relevant event
Details for Port Otago Limited
Nature of relevant interest(s): Registered holder and beneficial owner,
subject to the Lock up Agreement. The Lock Up Agreement is attached.
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
Additional information
Nature of connection between substantial security holders: None
Address(es) of substantial security holder(s): Port Otago Limited, C/- Harmos
Horton Lusk Limited, Level 37, Vero Centre, 48 Shortland Street, Auckland
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: Christchurch City Holdings Limited
Declaration
I, Geoff Plunket, 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:00253406 For:LPC Type:SSH Time:2014-08-01 14:24:39