NZE 0.00% 35.0¢ new zealand experience limited

Ann: SSH: NZE: SSH Notice - Rangatira Limited

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    NZE
    26/11/2012 09:06
    SSH
    
    REL: 0906 HRS New Zealand Experience Limited
    
    SSH: NZE: SSH Notice - Rangatira Limited
    
    Disclosure of beginning to have substantial holding
    Section 22, Securities Markets Act 1988
    
    To  NZX
    And  New Zealand Experience Limited
    
    Date this disclosure made:  26 November 2012
    Substantial security holder giving disclosure
    Name: Rangatira Limited
    Contact details: Chris Bradshaw
    [email protected]
    04 471 6142
    
    Date on which substantial security holder
    began to have substantial holding:
    24 November 2012
    
    Summary of substantial holding to which disclosure relates
    Class of listed voting securities: Fully paid ordinary shares in New Zealand
    
    Experience Limited (NZE)
    
    Summary for Rangatira Limited
    For this disclosure, -
    a total number held in class:  27,700,000
    b total in class: 37,000,000
    c total percentage held in class:  74.865%
    Details of relevant interests currently in substantial holding
    Details for Rangatira Limited
    Nature of relevant interest:  Power to acquire securities under a lock up
    agreement between Rangatira Limited (Rangatira) and Garlow Management Inc
    (Garlow), the terms of which were agreed on 24 November 2012.  Under its
    agreement with Garlow, Rangatira has agreed to make a full takeover offer to
    purchase all of the shares of NZE and Garlow has agreed to accept that offer
    in respect of its holding of 27,700,000 ordinary shares in NZE, at a price of
    $0.36 per ordinary share.  That lock up agreement is subject to certain
    conditions, as set out in the schedule to the PRAN01_RAN0129_026.docx
    terms of that agreement.  A copy of the terms of the lock up agreement is
    attached as document A
    (33 pages).
    For that relevant interest, -
    a number held in class:  27,700,000
    b percentage held in class:  74.865%
    c current registered holder of securities:  Garlow Management Inc
    d registered holder of securities once transfers registered:  Rangatira
    Limited
    Details of transactions and events giving rise to person beginning to have
    substantial holding
    
    Details of the transactions or other events requiring disclosure under the
    instructions to this form:
    On 24 November 2012, Garlow and Rangatira reached agreement in relation to a
    proposed full takeover offer for all the shares of NZE.  Under that
    agreement, Rangatira has agreed, subject to the terms of that agreement, to
    make a full takeover offer for all the shares of NZE and Garlow has agreed to
    accept that offer in respect of its holding of 27,700,000 fully paid ordinary
    shares in NZE,
    at a price of $0.36 per ordinary share.
    
    Additional information
    Nature of connection between substantial security holders:  Not applicable.
    Address of substantial security holder(s):  Level 10, 70 The Terrace,
    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:  Garlow Management Inc.
    
    Declaration
    I, Chris Bradshaw 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:00230213 For:NZE    Type:SSH        Time:2012-11-26 09:06:56
    				
 
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