Ann: SSH: SUM: SSH Notice (Summerset Group Holdin

• Release Date: 26/02/13 10:46
• Summary: SSH: SUM: SSH Notice (Summerset Group Holdings Limited)
• Price Sensitive: No
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SUM
26/02/2013 08:46
SSH

REL: 0846 HRS Summerset Group Holdings Limited

SSH: SUM: SSH Notice (Summerset Group Holdings Limited)

DISCLOSURE OF CEASING TO HAVE SUBSTANTIAL HOLDING

Section 25, Securities Markets Act 1988

To: NZX Limited

And: Summerset Group Holdings Limited

Date this disclosure made: 26 February 2013

Date last disclosure made: 1 November 2011

Substantial security holder(s) giving disclosure

Name(s): Summerset Group Holdings Limited

Contact details:

Norah Barlow
[email protected]
04 894 7320

Date on which substantial security holder(s) ceased to have substantial
holding: 26 February 2013

Summary of previous substantial holding to which disclosure relates

Class of listed voting securities: Ordinary shares

Summary for Summerset Group Holdings Limited

For last disclosure,--
(a) total number held in class: 124,097,647
(b) total in class: 214,819,360
(c) total percentage held in class: 57.768%

For current holding after ceasing to have substantial holding:
(a) total number held in class: 0
(b) total in class: 214,819,360
(c) total percentage held in class: 0%

Details of transactions and events giving rise to person ceasing to have
substantial holding

Following the listing of Summerset Group Holdings Limited, each of Perpetual
Trustee Company Limited (as custodian for Quadrant Private Equity No. 2 Pty
Limited and Quadrant Private Equity Management No. 2 Pty Limited), QPE Funds
Management Pty Limited, QPE Co-Investment Pty Limited, Norah Barlow and
Robert Barlow, Paul Morris and Clive Morris, Julian Bradwell Cook, Tristan
Saunders and Medical Technologies Corporate Trustees Limited unconditionally
and irrevocably undertook to Summerset Group Holdings Limited, NZX Limited
and the Non-Interested Directors (as defined in the Escrow Deed filed on 1
November 2011) not to sell, transfer, assign or otherwise dispose of the
legal or beneficial ownership of the shares in Summerset Group Holdings
Limited held by them for the period from 1 November 2011 to the day after the
date that Summerset Group Holdings Limited releases to NZX its financial
results for the financial year ending 31 December 2012 without the prior
written approval of Summerset Group Holdings Limited, NZX Limited and the
Non-Interested Directors.  The total number of ordinary shares subject to the
Escrow Deed was 124,097,647.

The restricted period under the Escrow Deed ended on 26 February 2013 and
accordingly the shares referred to above are no longer qualified by the
undertakings in the Escrow Deed.

Additional information

Nature of connection between substantial security holders: N/A

Address(es) of substantial security holder(s):

Level 12, State Insurance Tower
1 Willis Street
Wellington 6011
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: QPE Funds Management Pty Limited, Perpetual Trustee
Company Limited, Quadrant Private Equity Services No. 2 Pty Limited, Quadrant
Private Equity Management No. 2 Pty Limited, QPE Co-Investment Pty Limited,
The Macquarie Summerset Co-Investment Trust and The Quay Summerset
Co-Investment Trust

Declaration

I, Norah Barlow, 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:00233435 For:SUM    Type:SSH        Time:2013-02-26 08:46:00