VIL 0.00% 9.0¢ veritas investments limited

Ann: GENERAL: VIL: Reorganisation of entities associated with Michael Morton

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    • Release Date: 02/02/15 08:40
    • Summary: GENERAL: VIL: Reorganisation of entities associated with Michael Morton
    • Price Sensitive: No
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    02/02/2015 08:40
    REL: 0840 HRS Veritas Investments Limited
    GENERAL: VIL: Reorganisation of entities associated with Michael Morton
    NZX release
    2 February 2015
    The Board of Directors of Veritas Investments Limited (NZX:VIL) is aware that
    three substantial product holder notices will be lodged today by parties
    associated with Michael Morton, a Director of the Company.
    The transactions described in the notices relate to an internal
    reorganisation of those parties' ownership of VIL shares.  The VIL shares
    have been transferred from MBH Limited to Wilmat Holdings Limited and are
    soon to be transferred to the Trustees of the Michael Morton No. 2 Family
    Trust (expected to occur later this month).
    The Board of Directors wishes to reassure the market that this transfer does
    not result in any change to the beneficial ownership or ultimate control of
    the 15,384,615 VIL shares referred to in those substantial product holder
    notices (because they are already ultimately owned and controlled by the
    Michael Morton No. 2 Family Trust), and is only a reorganisation of the
    Trust's affairs.
    The Board has also been advised that the transactions will be undertaken in
    compliance with the Takeovers Code and the Takeovers Code (Veritas
    Investments Limited) Exemption Notice (No 2) 2013.  This trust reorganisation
    has been planned for some time and was flagged in Veritas' prospectus dated
    28 March 2013.
    Mark Darrow
    Veritas Investments Limited
    +64 21 88 88 58
    End CA:00260205 For:VIL    Type:GENERAL    Time:2015-02-02 08:40:23
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