NZE
26/11/2012 09:06
SSH
REL: 0906 HRS New Zealand Experience Limited
SSH: NZE: SSH Notice - Rangatira Limited
Disclosure of beginning to have substantial holding
Section 22, Securities Markets Act 1988
To NZX
And New Zealand Experience Limited
Date this disclosure made: 26 November 2012
Substantial security holder giving disclosure
Name: Rangatira Limited
Contact details: Chris Bradshaw
[email protected]
04 471 6142
Date on which substantial security holder
began to have substantial holding:
24 November 2012
Summary of substantial holding to which disclosure relates
Class of listed voting securities: Fully paid ordinary shares in New Zealand
Experience Limited (NZE)
Summary for Rangatira Limited
For this disclosure, -
a total number held in class: 27,700,000
b total in class: 37,000,000
c total percentage held in class: 74.865%
Details of relevant interests currently in substantial holding
Details for Rangatira Limited
Nature of relevant interest: Power to acquire securities under a lock up
agreement between Rangatira Limited (Rangatira) and Garlow Management Inc
(Garlow), the terms of which were agreed on 24 November 2012. Under its
agreement with Garlow, Rangatira has agreed to make a full takeover offer to
purchase all of the shares of NZE and Garlow has agreed to accept that offer
in respect of its holding of 27,700,000 ordinary shares in NZE, at a price of
$0.36 per ordinary share. That lock up agreement is subject to certain
conditions, as set out in the schedule to the PRAN01_RAN0129_026.docx
terms of that agreement. A copy of the terms of the lock up agreement is
attached as document A
(33 pages).
For that relevant interest, -
a number held in class: 27,700,000
b percentage held in class: 74.865%
c current registered holder of securities: Garlow Management Inc
d registered holder of securities once transfers registered: Rangatira
Limited
Details of transactions and events giving rise to person beginning to have
substantial holding
Details of the transactions or other events requiring disclosure under the
instructions to this form:
On 24 November 2012, Garlow and Rangatira reached agreement in relation to a
proposed full takeover offer for all the shares of NZE. Under that
agreement, Rangatira has agreed, subject to the terms of that agreement, to
make a full takeover offer for all the shares of NZE and Garlow has agreed to
accept that offer in respect of its holding of 27,700,000 fully paid ordinary
shares in NZE,
at a price of $0.36 per ordinary share.
Additional information
Nature of connection between substantial security holders: Not applicable.
Address of substantial security holder(s): Level 10, 70 The Terrace,
Wellington, New Zealand.
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: Garlow Management Inc.
Declaration
I, Chris Bradshaw 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:00230213 For:NZE Type:SSH Time:2012-11-26 09:06:56
