Trading halts for block trade NZX & ASX sell downs

On 31 March 2017, ASX announced that it would no longer agree to requests from a listed entity for a trading halt to facilitate the sale by an existing security holder of a major stake in the entity. Further information about this change in ASX's policy can be found at: http://www.asx.com.au/resources/newsletters/listed_at_asx/listed-at-asx-20170 331_0217.html NZX's current policy in this area remains unchanged, and NZX will continue to consider trading halt applications on a case by case basis if a substantial shareholder has informed the entity that the shareholder is completing an off market sell down through a bookbuild. Where an NZX listed entity with an ASX Foreign Exempt Listing requests and is granted a trading halt by NZX in these circumstances, if requested, ASX will also grant that entity a trading halt on the ASX market that will continue for the same period (as nearly as possible) as the halt granted on NZX. This reflects the general principle that an ASX Foreign Exempt Listing should conform to the rules and requirements of its home exchange (in this case, NZX). However, where an NZX listed entity has a standard ASX Listing, ASX will expect it to conform to the rules and requirements of ASX and so ASX's policy above will apply. Before an NZX listed entity with a standard ASX Listing requests a trading halt from NZX to facilitate the sale by an existing security holder of a major stake in the entity, it should consider carefully the possibility of its securities being able to be traded on ASX during that halt. For further information, please contact: NZX Hannah Lynch Communications Manager T: 09 308 3710 M: 021 252 8990 E: hannah.lynch@nzx.com ASX Adrian Smythe Manager, Listings Compliance T: +61 2 9227 0640 E: adrian.smythe@asx.com.au End CA:00299692 For:NZXR Type:GENERAL Time:2017-04-11 08:57:31