SSH Notice – Milford Asset Management Limited

100080615/3821103.1
Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
Note: This form must be completed in accordance with the instructions at the end of the
form.
To The New Zealand Stock Exchange
and
To Tourism Holdings Limited
Relevant event being disclosed: Change in nature of relevant interest
Date of relevant event: 17/03/2017
Date this disclosure made: 20/03/2017
Date last disclosure made: 16/12/2016
Substantial product holder(s) giving disclosure
Full name(s): Milford Asset Management Limited
Summary of substantial holding
Class of quoted voting products: Ordinary Shares
Summary for Milford Asset Management Limited
For this disclosure,—
(a) total number held in class: 16,000,724
(b) total in class: 119,124,010
(c) total percentage held in class: 13.432% (note, relevant interests held by the
manager as follows):
Milford Active Growth Wholesale Fund (10.622%), (Custodian - NNL Custodians),
Milford NZ Equities Wholesale Fund (2.030%), (Custodian - NNL Custodians),
Milford Income Wholesale Fund (0.780%), (Custodian – NNL Custodians).

For last disclosure,—
(a) total number held in class: 16,705,654
(b) total in class: 115,739,744
(c) total percentage held in class: 14.434% (note, relevant interests held by the
manager as follows):
Milford Active Growth Wholesale Fund (11.235%), (Custodian - NNL Custodians),
Milford NZ Equities Wholesale Fund (2.133%), (Custodian - NNL Custodians),

100080615/3821103.1
Milford Income Wholesale Fund (1.066%), (Custodian – NNL Custodians).

Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
Transaction Quantity Value Date
Sell 50,000 169,500.00 19/12/2016
Sell 50,000 169,500.00 19/12/2016
Sell 250,000 952,600.00 12/01/2017
Sell 100,000 400,000.00 27/01/2017
Sell 50,000 198,525.00 13/03/2017
Sell 54,884 217,340.64 14/03/2017
Sell 6,255 24,707.25 15/03/2017
Sell 100,000 395,000.00 15/03/2017
Sell 33,791 133,474.45 16/03/2017
Sell 10,000 39,500.00 17/03/2017

Details after relevant event
Details for Milford Asset Management Limited
Nature of relevant interest(s): N/A
Additional information
Address(es) of substantial product holder(s): Milford Asset Management Limited, Level 17,
41 Shortland Street, Auckland 1140, New Zealand.
Contact details: Mark Ryland, Head of Products and Operations, contact: (09) 921 4700
E-mail: compliance@milfordasset.com

Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: N/A
Certification
I, Mark Ryland, certify 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.