Change in nature of relevant interest or both
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New Zealand Wool Services International Limited (WSI) | 3:38 pm, Wednesday 23 July 2008 | WSI | 0.420 |
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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: Change in the nature of a relevant interest
Date of relevant event: 22 July 2008
To: New Zealand Exchange Limited
And: New Zealand Wool Services International Limited
Date this disclosure made: 23 July 2008
Date last disclosure made: [N/A]
Substantial security holder(s) giving disclosure
Name(s): Allan James Hubbard and Margaret J Hubbard
Contact details: Graeme Brown, (03) 688 8117, Graeme.brown@scfinance.co.nz
Summary of substantial holding to which disclosure relates
Class of listed voting securities: ordinary shares, code WSI
Summary for AJ and MJ Hubbard
For this disclosure,--
(a) total number held in class: 30,592,451
(b) total in class: 69,500,000
(c) total percentage held in class: 44.018%
For last disclosure,--
(a) total number held in class: [No change]
(b) total in class: [No change]
(c) total percentage held in class: [No change]
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:
In accordance with the terms of the Takeovers Code (South Canterbury Finance
Limited) Exemption Notice 2008, AJ and MJ Hubbard acquired the beneficial
interest in 30,592,451 shares in New Zealand Wool Services International
Limited from South Canterbury Finance Limited on 22 July 2008, for a total
consideration of $17,683,682. This acquisition resulted in a change in the
nature of their relevant interest in those 30,592,451 shares in New Zealand
Wool Services International Limited.
AJ and MJ Hubbard previously held a non-beneficial interest in those shares
by virtue of their indirect ownership of approximately 70% of South
Canterbury Finance Limited.
Details of relevant interests in substantial holding after relevant event
Details for AJ and MJ Hubbard
Nature of relevant interest(s): AJ and MJ Hubbard became the beneficial
owners of 30,592,451 shares in New Zealand Wool Services International
Limited pursuant to a transfer agreement dated 22 July 2008 between South
Canterbury Finance Limited and AJ and MJ Hubbard, which agreement was entered
into in accordance with the Takeovers Code (South Canterbury Finance Limited)
Exemption Notice 2008. A copy of the one page agreement is attached to this
notice.
AJ and MJ Hubbard previously held a non-beneficial interest in the 30,592,451
New Zealand Wool Services International Limited shares by virtue of their
indirect ownership of approximately 70% of South Canterbury Finance Limited.
For that relevant interest,--
(a) number held in class: 30,592,541
(b) percentage held in class: 44.018%
(c) current registered holder(s) of securities: Forresters New Zealand
Limited
(d) registered holder(s) of securities once transfers registered:
Forresters New Zealand Limited
Additional information
Nature of connection between substantial security holders: N/A
Address(es) of substantial security holder(s): PO Box 125, Timaru, 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: South Canterbury Finance Limited
Declaration
I, Allan James Hubbard, 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.