Ann: SSH: MHI: SSH - Durante Holdings Pty Ltd

• Release Date: 08/03/12 14:06
• Summary: SSH: MHI: SSH - Durante Holdings Pty Ltd
• Price Sensitive: No
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MHI
08/03/2012 12:06
SSH

REL: 1206 HRS Michael Hill International Limited

SSH: MHI: SSH - Durante Holdings Pty Ltd

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: A movement of 1% or more in the substantial
holding

Date of relevant event: 7 and 8 March 2012

To: NZX Limited

And: Michael Hill International Limited ('MHI')

Date this disclosure made: 8 March 2012

Date last disclosure made: 23 December 2010*

Substantial security holder(s) giving disclosure
Name(s): Durante Holdings Pty Ltd ('Durante')
Contact details: c/- Gerald Fitzgerald, Kensington Swan 04 498 0835
[email protected]
Summary of substantial holding to which disclosure relates
Class of listed voting securities: Ordinary shares in MHI

Summary for Durante:

For this disclosure,--
(a) total number held in class: 202,644,452
(b) total in class: 382,775,586 (excluding treasury stock)
(c) total percentage held in class: 52.941%

For last disclosure*,--
(a) total number held in class: 182,433,020
(b) total in class: 383,053,190
(c) total percentage held in class: 47.626%

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: On market acquisition of 10,199,859 ordinary shares in MHI on 7
and 8
March 2012, for a total consideration paid of $10,911,336.67.
Details of relevant interests in substantial holding after relevant event
Details for Durante:
Nature of relevant interest(s): Legal and beneficial owner of shares

For that relevant interest,--
(a) number held in class: 202,644,452
(b) percentage held in class: 52.941%
(c) current registered holder(s) of securities: Unknown
(d) registered holder(s) of securities once transfers registered: Durante

Additional information
Nature of connection between substantial security holders: N/A
Address of substantial security holder(s):
800 Zilmere Road
Apsley
Queensland 4034
Australia
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: None

*Notes to this disclosure
On 14 January 2011 Durante made a partial takeover offer for 5% of the voting
shares in MHI not already held by it. The offer was declared unconditional on
28 February 2011 and following a scaling process, Durante acquired 10,011,573
ordinary shares in MHI from parties having accepted the offer.
Following completion of the takeover, Durante held 192,444,593 of the
ordinary shares on issue in MHI, representing 50.24% of all ordinary shares
on issue in MHI.
Due to an administrative oversight, Durante did not release a substantial
security
holder notice to the market to advise its holding in MHI following completion
of the
takeover. However, Durante did make contemporaneous market announcements in
respect of completion of the takeover as required under the Takeovers Code,
including information about the nature and extent of its holding in MHI. At
all relevant times, the market was fully informed about the nature and extent
of Durante's control of MHI.

Declaration
I, Gerald Fraser Fitzgerald, 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:00220491 For:MHI    Type:SSH        Time:2012-03-08 12:06:50