SPH Notice – Harbour Asset Management & Jarden

041898866/4160825.2
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

To NZX Limited
and
To Scales Corporation Limited (SCL)
Relevant event being disclosed:
Disclosure of movement of 1% or more in
substantial holding
Date of relevant event: 19 December 2019
Date this disclosure made: 23 December 2019
Date last disclosure made: 9 May 2019

Substantial product holder(s) giving disclosure
Full name(s):
Harbour Asset Management Limited and Jarden
Securities Limited (previously named First NZ
Capital Securities Limited)

Summary of substantial holding
Class of quoted voting products:
Ordinary shares (Shares)
Summary for: Harbour Asset Management Limited
Jarden Securities Limited (previously named First
NZ Capital Securities Limited)

For this
disclosure -
(a) total number held in
class:
14,015,001
(b) total in class: 141,579,238
(c) total percentage held
in class:
9.899%
For last
disclosure -
(a) total number held in
class:
11,821,854
(b) total in class: 141,364,953

(c) total percentage held
in class:
8.363%

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Details of transactions and events giving rise to relevant event:
Details of the transactions or other events requiring disclosure:
The transactions/events giving rise to this disclosure obligation are:
• following a review of the substantial product holder disclosure methodologies and practices for Jarden Partners Limited and its related
bodies corporate, this disclosure now includes the relevant interest arising under the investment management agreements that Jarden
Securities Limited is a party to for the purposes of providing discretionary investment management services (DIMS) to its clients (this
relevant interest was not included in the last disclosure made on 9 May 2019); and
• on-market trades summarised in the table below:

041898866/4160825.2

Details for: Harbour Asset Management Limited Jarden Securities Limited (DIMS)
Nature of
relevant
interest(s):
As fund manager, the power to exercise (or control the
exercise of) a right to vote attached to, and power to
acquire or dispose of (or control the acquisition or
disposal of), the Shares, under investment powers
contained in investment management agreements with
clients (the beneficial owners of the product) or managed
fund trust deeds.
Jarden Securities Limited has, as provider of discretionary
investment management services (DIMS) under various
investment management agreements with clients (the
beneficial owners of the product), the power to exercise (or
control the exercise of) a right to vote attached to, and
power to acquire or dispose of (or control the acquisition or
disposal of), the Shares.
On-market
purchases –
number of shares
1,283,324 391,342
On-market
purchases –
Gross
Consideration
$6,125,375
$1,930,170
On-market sales
– number of
shares
2,474,010
756,085
On-market sales
– Gross
Consideration
$12,119,579 $3,654,010

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Details after relevant event:

Details for:
Harbour Asset Management Limited Jarden Securities Limited (DIMS)
Nature of
relevant
interest(s):
As fund manager, the power to exercise (or control the
exercise of) a right to vote attached to, and power to
acquire or dispose of (or control the acquisition or
disposal of), the Shares, under investment powers
contained in investment management agreements with
clients (the beneficial owners of the product) or managed
fund trust deeds.

Jarden Securities Limited has, as provider of discretionary
investment management services (DIMS) under various
investment management agreements with clients (the
beneficial owners of the product), the power to exercise (or
control the exercise of) a right to vote attached to, and power
to acquire or dispose of (or control the acquisition or disposal
of), the Shares.
Number held in
class after the
relevant event:
10,631,168 3,383,833
Percentage held
in class
7.509% 2.390%
Current
registered holder
of financial
products:
Various nominees or custodians for and on behalf of
Harbour Asset Management Limited & unknown
FNZ Custodians Limited (as sub-custodian of Jarden Custodial
Services Limited)
Registered holder
of financial
products once
transfer is
registered:
Various nominees or custodians for and on behalf of
Harbour Asset Management Limited
FNZ Custodians Limited (as sub-custodian of Jarden Custodial
Services Limited)

041898866/4160825.2

Additional information
Address(es) of substantial
product holder(s):
Level 14, 171 Featherston Street, Wellington
Contact details:
Kate Livingston
+ 64 9 307 5747
kate.livingston@jarden.co.nz
Nature of connection
between substantial product
holders:
Jarden Securities Limited (previously named First NZ
Capital Securities Limited), Jarden Partners Limited
(previously named First NZ Capital Group Limited) and
Harbour Asset Management Limited are related bodies
corporate.

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: none.
Certification
I, Kate Livingston, 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.