Ann: SSH: SKT: SSH Notice - (First NZ Capital Gro

• Release Date: 02/11/12 11:23
• Summary: SSH: SKT: SSH Notice - (First NZ Capital Group Limited)
• Price Sensitive: No
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SKT
02/11/2012 09:23
SSH

REL: 0923 HRS Sky Network Television Limited

SSH: SKT: SSH Notice - (First NZ Capital Group Limited)

Disclosure of beginning to have substantial holding
Section 22, Securities Markets Act 1988

To: NZX Limited
And: Sky Network Television Limited
Date this disclosure made: 2 November 2012

Substantial security holder(s) giving disclosure

Name(s): First NZ Capital Group Limited
Contact details: Richard Bodman, + 64 4 474 4017, [email protected]
Date on which substantial security holder(s) began to have substantial
holding: 1 November 2012

Summary of substantial holding to which disclosure relates

Class of listed voting securities: Sky Network Television Limited ordinary
shares
Summary for: First NZ Capital Group Limited

For this disclosure,--

(a) total number held in class: 21,585,319
(b) total in class: 389,139,785
(c) total percentage held in class: 5.55%

Details of relevant interests currently in substantial holding

Details for: First NZ Capital Group Limited
Nature of relevant interest(s): Holding company of two subsidiaries which
collectively have a relevant interest in 5.55% of the shares in Sky Network
Television Limited.  More specifically, First NZ Capital Group Limited is the
holding company of:
o Harbour Asset Management Limited, which currently has a relevant
interest in 2.24% of the ordinary shares in Sky Network Television Limited
(Harbour Asset Management Limited has a relevant interest in these shares
under investment management contracts that give the powers of investment
contained in those contracts to acquire and dispose of interests in
securities on behalf, and for the benefit, of clients as the beneficial owner
of the securities. The investment management contracts appoint Harbour Asset
Management Limited as discretionary investment manager), and
o First NZ Capital Securities Limited, which as a result of acting as a
sub-underwriter of a sale of voting securities by Todd Communications Limited
had a relevant interest of 3.31% of the ordinary shares in Sky Network
Television Limited on 1 November 2012.
No relevant agreement document attached as relevant interest arises solely as
a result of First NZ Capital Group Limited being the holding company of
Harbour Asset Management Limited and First NZ Capital Securities Limited.

For that relevant interest,--

(a)    number held in class: 21,585,319
(b) percentage held in class: 5.55%
(c) current registered holder(s) of securities: See table below
(d) registered holder(s) of securities once transfers registered: See
table below
Further details for each subsidiary are in the table below.

 Harbour Asset Management Limited First NZ Capital Securities
Limited

(a) number held in class: 8,714,032 12,871,287
(b) percentage held in class:
(c) current registered holder(s) of securities::
(d)  registered holder(s) of securities once transfers registered: 2.24%

 3.31%
Todd Communications Limited

First NZ Capital Securities Limited

Details of transactions and events giving rise to person beginning to have
substantial holding
First NZ Capital Group Limited is the holding company of:
o Harbour Asset Management Limited, which currently has a relevant
interest (as described above) in 1.8% of the ordinary shares in Sky Network
Television Limited  (being an aggregate of 8,714,032 ordinary shares) as a
result of various on-market trades from January 2010 to October 2012 (in the
four months prior to the date of this notice 753,471 shares were acquired for
an aggregate price of $4.972 ($3,746,258) and 1,059,400 shares were disposed
of for an aggregate price of $5.04 ($5,339,376), and 1,650,000 shares were
acquired on 2 November at a price of $5.05 per share.
o First NZ Capital Securities Limited, which as a result of acting as a
sub-underwriter of a sale of voting securities by Todd Communications Limited
had a relevant interest of 3.31% of the ordinary shares in Sky Network
Television Limited on 1 November 2012 at a price of $5.05 per share (an
aggregate of $65,000,000).

Additional information

Nature of connection between substantial security holders: N/A
Address(es) of substantial security holder(s): Level 14, 171 Featherston
Street, Wellington.
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

Declaration

I, Richard William Bodman, 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:00229254 For:SKT    Type:SSH        Time:2012-11-02 09:23:29