Ann: SSH: MEL: SSH Notice - Her Majesty the Queen in Right of New Zealand

• Release Date: 21/05/15 13:24
• Summary: SSH: MEL: SSH Notice - Her Majesty the Queen in Right of New Zealand
• Price Sensitive: No
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					MEL
21/05/2015 13:24
SSH
NOT PRICE SENSITIVE
REL: 1324 HRS Meridian Energy Limited

SSH: MEL: SSH Notice - Her Majesty the Queen in Right of New Zealand

Transfers on 21 May
Disclosure of movement of 1% or more in substantial holding or change in
nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013

To NZX Limited
and
To Meridian Energy Limited (MEL)
Relevant events being disclosed:  A movement of 1% or more in substantial
holding and change in the nature of the Crown's relevant interest.

Date of relevant events:  21 May 2015
Date this disclosure made:  21 May 2015
Date last disclosure made:  31 October 2013

Substantial product holder(s) giving disclosure
Full name(s): Her Majesty the Queen in Right of New Zealand (the Crown)
Summary of substantial holding
Class of quoted voting securities: Ordinary shares in MEL (Shares)
Summary for the Crown
For this disclosure,--
(a) total number held in class: 1,368,877,074 Shares
(b) total in class: 2,563,000,000 Shares
(c) total percentage held in class: 53.409% of Shares
For last disclosure,--
(a) total number held in class: 2,563,000,000 Shares
(b) total in class: 2,563,000,000 Shares
(c) total percentage held in class: 100% of Shares

Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
(1) On 21 May 2015, NZGT (IR) Limited and The Trust Company (Nominees)
Limited transferred 1,240,478,116 Shares to the holders of instalment
receipts, each of which corresponds to a share (Instalment Receipt),
following the payment by those holders of the final instalment of the
purchase price for those Shares.  On such transfer, the Crown's security
interest in the relevant Shares pursuant to instalment receipt trust deeds
dated 19 September 2013 between the Crown as one party and The New Zealand
Guardian Trust Company Limited and The Trust Company (Australia) Limited
(respectively) as the other party (the Instalment Receipt Trust Deeds) was
automatically released and extinguished.
(2) Pursuant to the transfers described in paragraph (1) above, NZGT (IR)
Limited transferred 45,927,524 Shares to the Guardians of the New Zealand
Superannuation Fund and to various managers of the New Zealand Superannuation
Fund.
(3) Pursuant to the transfers described in paragraph (1) above, NZGT (IR)
Limited transferred 427,666 Shares to the trustees of the Rangit?ne O Wairau
Settlement Trust.
(4) Following the transfers described in paragraph (1) above, NZGT (IR)
Limited and The Trust Company (Nominees) Limited continue to hold, in
aggregate, 14,935,510 Shares (the Remaining Shares) on the terms of the
Instalment Receipt Trust Deeds, being the number of Shares in respect of
which the final instalment of the purchase price payable for them has not
been received by the Crown.  The Crown retains a relevant interest in the
Remaining Shares by virtue of its security interest over them under the
Instalment Receipt Trust Deeds.

Details after relevant events
Details for the Crown
Nature of relevant interest(s):  Registered holder and beneficial owner of
Shares.  The Crown's relevant interest is subject to the qualification that,
pursuant to the Public Finance Act 1989, the Crown must hold at least 51% of
the Shares on issue.
For that relevant interest,--
(a) number held in class: 1,307,586,374 Shares
(b) percentage held in class: 51.018% of Shares
(c) current registered holder(s) of securities: Her Majesty the Queen in
Right of New Zealand acting by and through Her Minister of Finance and
Minister for State Owned Enterprises
(d) registered holder(s) of securities once transfers registered: N/A

Nature of relevant interest(s):  The Crown has a relevant interest in the
14,935,510 Remaining Shares by virtue of having the power to control the
disposition of those Remaining Shares under its security interest over them
pursuant to the terms of the Instalment Receipt Trust Deeds.
For that relevant interest,--
(a) number held in class: 14,935,510 Shares
(b) percentage held in class: 0.583% of Shares
(c) current registered holder(s): NZGT (IR) Limited or The Trust Company
(Nominees) Limited in their respective capacities as Instalment Receipt
trustees under the Instalment Receipt Trust Deeds
(d) registered holder(s) once transfers registered: N/A

Nature of relevant interest(s):  Beneficial owner of Shares by virtue of the
fact that the New Zealand Superannuation Fund is the property of the Crown
pursuant to the New Zealand Superannuation and Retirement Income Act 2001.
For that relevant interest,--
(a) number held in class: 45,927,524 Shares
(b) percentage held in class: 1.792% of Shares. Note relevant interests held
by Managers as follows: State Street Global Advisors (0.003%), Blackrock
(0.003%), Northern Trust (0.004%), Devon (0.213%), New Zealand Superannuation
Fund Nominees Limited (1.569%)
(c) current registered holder(s): State Street Global Advisors, Blackrock,
Northern Trust, Devon, New Zealand Superannuation Fund Nominees Limited as
nominee for the New Zealand Superannuation Fund, being property of Her
Majesty the Queen in right of New Zealand and managed by the Guardians of New
Zealand Superannuation
(d) registered holder(s) once transfers registered: N/A

Nature of relevant interest(s):  The Crown has a relevant interest in Shares
held by the Rangit?ne O Wairau Settlement Trust by virtue of a Deed of
Embargo between the Rangit?ne O Wairau Settlement Trust and the Crown dated
23 October 2013 (the Deed of Embargo) pursuant to which the Crown can prevent
the Rangit?ne O Wairau Settlement Trust from disposing of Shares held by it
until the later of (a) the date that is two years from 30 October 2013; and
(b) the date on which an Agreement in Principle (or equivalent) settling
Rangit?ne O Wairau's historical Treaty of Waitangi claims against the Crown
has been signed by the Crown and Rangit?ne O Wairau.
For that relevant interest,--
(a) number held in class: 427,666 Shares
(b) percentage held in class: 0.017% of Shares
(c) current registered holder(s): Judith MacDonald, Jeffrey Hynes and Richard
Andrell (in their capacities as trustees of the Rangit?ne O Wairau Settlement
Trust)
(d) registered holder(s) once transfers registered: N/A

Additional information
Address(es) of substantial product holder(s): C/- The Treasury (Attn: Chris
White), PO Box 3724, Wellington 6140
Contact details: C/- The Treasury (Attn: Chris White), telephone +64 4 472
2733, email [email protected]
Name of any other person believed to have given, or believed to be required
to give, a disclosure under the Financial Markets Conduct Act 2013 in
relation to the financial products to which this disclosure relates: N/A

Declaration
I, Chris White, 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:00264633 For:MEL    Type:SSH        Time:2015-05-21 13:24:29