SPH Notice – Forsyth Barr Investment Management Limited

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Disclosure of movement of 1% or more in substantial holding or change in nature of relevant
interest, or both
Section 277 and 278, Financial Markets Conduct Act 2013
To: NZX Limited
and
To: Sanford Limited
Relevant event being disclosed: Movement of 1% or more in substantial holding
Date of relevant event: 31 October 2018
Date of this disclosure: 1 November 2018
Date last disclosure made: 17 August 2018
Substantial product holder(s) giving disclosure:
Full name(s): Forsyth Barr Investment Management Limited
Summary of substantial holding
Class of quoted voting products: Ordinary shares (SAN)
Summary for Forsyth Barr Investment Management Limited
For this disclosure,—
(a) total number held in class: 5,202,469
(b) total in class: 93,626,735
(c) total percentage held in class:

5.557%
For last disclosure,—
(a) total number held in class: 6,721,738
(b) total in class: 93,626,735
(c) total percentage held in class:

7.179%

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Details of transactions and events giving rise to relevant event
Date of
event
Nature of
event
Consideration Number of
financial
products
Current
registered
holder(s)
Registered holder(s)
once transfers are
registered
17 August
2018 to
31 October
2018
On-market
sales
$12,290,403 1,642,584
Forsyth Barr
Custodians
Limited
(“FBCL”)
Unknown
On-market
purchases
$936,599 121,225 Unknown
FBCL
Off-market
transfers out
of DIMS
Nil 33,325
FBCL Unknown
Off-market
transfers
into DIMS
Nil 32,025 Unknown
FBCL

Details after relevant event
Details for Forsyth Barr Investment Management Limited
Nature of relevant interest(s):

A relevant interest arises in respect of
5,199,069 shares under various investment
management agreements to which Forsyth
Barr Investment Management Limited is a
party in its capacity as the manager of the
Forsyth Barr Investment Funds and a provider
of discretionary investment management
services (DIMS). The relevant interest arises
only from the powers of investment contained
in those agreements, including the power to
control the exercise of the right to vote
attached to the shares and to control the
disposal of the shares. A relevant agreement
document need not be attached under
regulations 139 and 142. A relevant interest
also arises in respect of 3,400 shares
beneficially owned by Forsyth Barr Limited, a
related company of Forsyth Barr Investment
Management Limited, on its own account. A
relevant agreement document need not be
attached under regulations 139 and 141.
For that relevant interest,—
(a) number held in class: 5,202,469
(b) percentage held in class: 5.557%
(c) current registered holder(s): See above
(d) registered holder(s) once transfers are
registered:
See above
For a derivative relevant interest, also—
(a) type of derivative: Not applicable

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(b) details of derivative: Not applicable
(c) parties to the derivative: Not applicable
(d) if the substantial product holder is not a
party to the derivative, the nature of the
relevant interest in the derivative:
Not applicable

Additional Information

Address(es) of substantial product holder(s): Forsyth Barr House, The Octagon, Dunedin
Contact details: Dunja Sumar
T: +64 9 368 0059
E: compliance@forsythbarr.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:
Not applicable

Certification
I, Dunja Sumar, 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.