SPH Notice – Investment Services Group Ltd

Disclosure of ceasing to have substantial holding
Section 276, Financial Markets Conduct Act 2013
Note: This form must be completed in accordance with the instructions at the end of the
form.
To NZX
and
To Fonterra Shareholders' Fund
Date this disclosure made: 19/01/2018
Date last disclosure made: 04/12/2017
Date on which substantial holding ceased: 18/01/2018
Substantial product holder(s) giving disclosure
Full name(s): Investment Services Group Limited (formerly Devon Funds Group
Limited)
Summary of substantial holding
Class of quoted voting products: Ordinary Shares
Summary for Investment Services Group Limited
For last disclosure,—
(a) total number held in class: 6,971,780

(b) total in class: 138,649,174

(c) total percentage held in class: 5.03%
Details of relevant interests
Devon Funds Management Limited and Clarity Funds Management Limited are subsidiaries
of Investment Services Group Limited.
Details for Devon Funds Management Limited
Nature of relevant interest(s): Related party of Investment Services Group
Limited
For that relevant interest,—
Summary for Devon Funds Management Limited
(a) total number held in class: 6,971,780

(b) total in class: 138,649,174

(c) total percentage held in class: 5.03%

Units Custodian
32,956 BNP, on behalf of private client
96,868 BNP, on behalf of the Alpha fund
51,109 BNP, on behalf of private client
193,608 Citibank, on behalf of private client
446,567 BNP, on behalf of private client
635,607 BNP, on behalf of private client
56,602 BNP, on behalf of private client
297,846 MMC, on behalf of private client
400,601 BNP, on behalf of the Dividend Yield fund
366,397 JPM, on behalf of private client
848,386 Northern Trust, on behalf of private client
161,701 JPM, on behalf of private client
789,560 Public Trust, on behalf of private client
424,344 BNP, on behalf of private client
461,075 BNP, on behalf of the Trans Tasman fund
644,027 BNP, on behalf of private client
139,115 JPM, on behalf of private client
925,411 Citibank, on behalf of private client

Details for Clarity Funds Management Limited
Nature of relevant interest(s): Related party of Investment Services Group
Limited.
For that relevant interest,—
Summary for Clarity Funds Management Limited
(a) total number held in class: 0

(b) total in class: 138,649,174
(c) total percentage held in class: 0%
For current holding after ceasing to have substantial holding,-
Summary for Investment Services Group Limited
(a) total number held in class: 6,859,375

(b) total in class: 139,741,224

(c) total percentage held in class: 4.91%

Details of relevant interests
Details for Devon Funds Management Limited
Nature of relevant interest(s): Related party of Investment Services Group
Limited
For that relevant interest,—
Summary for Devon Funds Management Limited
(d) total number held in class: 6,859,375

(e) total in class: 139,741,224

(f) total percentage held in class: 4.91%
Units Custodian
49,506 BNP, on behalf of private client
187,290 Citibank, on behalf of private client
432,603 BNP, on behalf of private client
615,732 BNP, on behalf of private client
54,833 BNP, on behalf of private client
288,535 MMC, on behalf of private client
392,179 BNP, on behalf of the Dividend Yield fund
354,939 JPM, on behalf of private client
940,228 Northern Trust, on behalf of private client
156,644 JPM, on behalf of private client
759,882 Public Trust, on behalf of private client
493,653 BNP, on behalf of private client
451,603 BNP, on behalf of the Devon Trans Tasman fund
630,763 BNP, on behalf of private client
136,256 JPM, on behalf of private client
914,729 Citibank, on behalf of private client

Details for Clarity Funds Management Limited
Nature of relevant interest(s): Related party of Investment Services Group
Limited.
For that relevant interest,—
Summary for Clarity Funds Management Limited
(a) total number held in class: 0

(b) total in class: 139,741,224

(c) total percentage held in class: 0%
Details of transactions and events giving rise to ceasing of substantial holding
Details of the transactions or other events requiring disclosure:
Transaction in four months before 19/01/2018
Date Transaction Volume Amount
18/01/2018 Sale 200,000 1,298,094
15/12/2017 Purchase 88,865 568,699
13/12/2017 Sale 129,824 827,087
1/12/2017 Purchase 403,500 2,583,510
29/11/2017 Purchase 150,000 956,862
28/11/2017 Purchase 81,299 517,797
4/12/2017 Purchase 105,000 668,003
5/12/2017 Purchase 23,554 149,780
10/11/2017 Sale 74,289 466,068
28/09/2017 Sale 52,319 325,308
19/09/2017 Sale 20,000 122,078
20/10/2017 Purchase 204,289 1,218,805

Additional information
Address(es) of substantial product holder(s): Investment Services Group Limited,
Level 10, 2 Commerce Street, Auckland 1010
Contact details: John Tampo | P: 09 925 3982 | E: jtampo@devonfunds.co.nz
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: Devon Funds Management Limited
Certification
I, John Tampo, 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.