Ann: SSH: SKT: SSH Notice - (Todd Communications

• Release Date: 02/11/12 11:07
• Summary: SSH: SKT: SSH Notice - (Todd Communications Limited)
• Price Sensitive: No
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SKT
02/11/2012 09:07
SSH

REL: 0907 HRS Sky Network Television Limited

SSH: SKT: SSH Notice - (Todd Communications Limited)

Securities Markets (Substantial Security Holders) Regulations 2007
FORM 2
(Sections 23 and 24, Securities Markets Act 1988)
DISCLOSURE OF MOVEMENT OF 1% OR MORE IN SUBSTANTIAL HOLDING OR CHANGE IN
NATURE OF RELEVANT INTEREST OR BOTH

Relevant event being disclosed: Change in nature of relevant interest in
substantial holding
Date of relevant event: 1 November 2012
TO: NZX Limited
AND: Sky Network Television Limited (SKT)
Date this disclosure made: 2 November 2012
Date last disclosure made 6 July 2005

Substantial security holder giving disclosure

Name: Todd Communications Limited ("TCL")
Contact details: Chris Morrison
Investment Manager, Todd Corporation
Tel: +64 4 472 2970

Summary of substantial holding to which disclosure relates

Class of listed voting securities: Ordinary Shares
Summary for: Sky Network Television Limited
For this disclosure:
(a) total number held in class:   43,220,277
(b) total in class:   389,139,785
(c) total percentage held in class: 11.11%
For last disclosure:
(a) total number held in class:   43,220,277
(b) total in class:   389,139,785
(c) total percentage held in class: 11.11%

Details of transaction and events giving rise to relevant event

Pursuant to an agreement between TCL and Credit Suisse (Australia) Limited
("Credit Suisse") dated 1 November 2012, Credit Suisse agreed to purchase all
of TCL's shareholding in SKT.  The shares were sold at a price of $5.05 per
share. It is expected that settlement of the sale will occur on 8 November
2012 and a notice of ceasing to be a substantial security holder will be
filed at that time.

Details of relevant interests in substantial holding after relevant event

Details for: Todd Communications Limited
Nature of relevant interest: Legal holder pending settlement of sale on 8
November 2012
For that relevant interest:
(a) number held in class: 43,220,277
(b) percentage held in class: 11.11%
(c) current registered holder(s) of securities: Todd Communications Limited
(d) registered holder(s) of securities once transfers registered: Credit
Suisse (Australia) Limited

Additional information

Nature of connection between substantial security holders: N/A
Address of substantial security holder: Level 14, 95 Customhouse Quay,
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: Credit Suisse (Australia) Limited

Declaration
I, Chris Morrison, Investment Manager for Todd Corporation (the parent
company of Todd Communications Limited) 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:00229252 For:SKT    Type:SSH        Time:2012-11-02 09:07:21