NZXR Share Price Enquiry into Skellerup Holdings Limited

NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599
www.nzx.com

10 May 2019

Graham Leaming
CFO/Company Secretary
Skellerup Holdings Limited

By email: graham.leaming@skellerup.co.nz


Dear Graham,

Price Enquiry

We write with respect to the continuous disclosure Listing Rules.

Listing Rule 3.1.1 (”the rule”) is set out in the Schedule attached to this letter. In summary,
this rule requires issuers to immediately disclose any Material Information to NZX Limited
(“NZX”). The rule provides limited exceptions to this obligation. Material Information does
not need to be disclosed where a reasonable person would not expect the information to
be disclosed and where the information is confidential and its confidentiality is maintained
and where one of five safe harbours applies.

The price of Skellerup Holdings Limited Ordinary Shares (“SKL”) has increased from
$2.19, being the market close price on 1 May 2019, to $2.42, being the market price at
10:00am on the date of this letter. This represents an increase of 10.5%.

Given this price increase, please advise NZX whether Skellerup Holdings Limits continues
to comply with Listing Rule 3.1.1.

Could you please provide NZX with an answer to the above question (email:
surveillance@nzx.com) before 4:00pm today, 10 May 2019.

Please provide your response to this letter in “PDF” format, and note that it will be
published in full to the market.


Yours sincerely,


Phil Solarz
NZX Market Surveillance
04 495 2829

SCHEDULE

3.1 Disclosure of Material Information
3.1.1 Once an issuer becomes Aware of any Material Information relating to it, the Issuer
must:
a) Promptly and without delay release that Material Information through MAP, and
b) Not disclose any Material Information to the public, any other stock exchanges
(except as provided for in Rule 3.26.2(d)) or any other party without first releasing
that Material Information through MAP.

3.1.2 Rule 3.1.1 does not apply when:
(a) One or more of the following applies:
i) Release of the information would be a breach of the law,
ii) The information concerns an incomplete proposal or negotiation,
iii) The information contains matters of supposition or is insufficiently definite to
warrant disclosure
iv) The information is generated for internal management purposes, or
v) The information is a trade secret,
(b) The information is confidential and its confidentiality is maintained, and
(c) A reasonable person would not expect the information to be disclosed.

3.2 False Market
3.2.1 An Issuer must promptly and without delay release Material Information through
MAP to the extent necessary to prevent development or subsistence of a market
for its Quoted Financial Products which is materially influenced by false or
misleading information emanating from:
a. the Issuer or any Associated Person of the Issuer, or
b. other persons in circumstances in each case which would give such
information substantial credibility,
and which is of a reasonably specific nature whether or not Rule 3.1.2 applies.