NZXR Share Price Enquiry into PaySauce 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

3 January 2020

Asantha Wijeyeratne
Chief Executive Officer
PaySauce Limited

By email: asantha@paysauce.com

Dear Asantha,
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 PaySauce Limited Ordinary Shares (“PYS”) has increased from $0.56, being the
market close price on 24 December 2019, to $0.96, being the market close price 31 December
2019. This represents an increase of 71.4%.

Given this price increase, please advise NZX whether PaySauce Limited 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 4:30pm today, 3 January 2020.

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


Yours sincerely,

Andy Cheang
NZX Market Surveillance

2

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.

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3 January 2019 
 
Andy Cheang 
NZX Market Surveillance 
NZX Limited 
 
By email: surveillance@nzx.com 
 
Dear Mr Cheang 
 
PAYSAUCE LIMITED – PRICE ENQUIRY 
 
I refer to your letter dated 3 January 2020 and confirm that PaySauce Limited continues to 
comply with Listing Rule 3.1.1. 
 
Yours sincerely 
 
 
 
 
 
 
Asantha Wijeyeratne