SPH Notice – Harbour Asset Mgmt Ltd & Jarden Securities Ltd

041898866/4160982.2
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 Summerset Group Holdings Limited (SUM)
Relevant event being disclosed:
Disclosure of movement of 1% or more in
substantial holding
Date of relevant event: 25 February 2020
Date this disclosure made: 27 February 2020
Date last disclosure made: 19 July 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)

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Summary of substantial holding

Harbour Asset Management Limited:
Class of quoted voting products:
Ordinary shares (Shares)
Summary for: Harbour Asset Management Limited
For this
disclosure -
(a) total number held in
class:
18,595,005
(b) total in class: 226,827,675
(c) total percentage held
in class:
8.198%
For last
disclosure -
(a) total number held in
class:
18,658,150
(b) total in class: 225,751,258

(c) total percentage held
in class:
8.265%

Summary of substantial holding

Jarden Securities Limited:
Class of quoted voting products:
Ordinary shares (Shares)
Summary for:
Jarden Securities Limited (previously named
First NZ Capital Securities Limited)
For this
disclosure -
(a) total number held in
class:
2,474,077 (includes DIMS clients’
relevant interest)
(b) total in class: 226,827,675
(c) total percentage held
in class:
1.091%
For last
disclosure -
(a) total number held in
class:
Nil.
See below - DIMS clients’ relevant interest
was not included in the last disclosure made
on 19 July 2019.
A proprietary uncovered short position of
22,500 SUM was held as at 18 July 2019.
(b) total in class: 225,751,258

(c) total percentage held
in class:
Nil

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Summary of substantial holding

All Related Bodies Corporate:


Class of quoted voting products:
Ordinary shares (Shares)
Summary for: Harbour Asset Management Limited; and
Jarden Securities Limited (previously named
First NZ Capital Securities Limited)
For this
disclosure -
(a) total number
held in class:
21,069,082
(b) total in class: 226,827,675
(c) total
percentage held in
class:
9.289%
For last
disclosure -
(a) total number
held in class:
18,658,150
(b) total in class: 225,751,258

(c) total
percentage held in
class:
8.265%

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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 19 July 2019); and
• on-market trades summarised in the table below from 19 July 2019 to 25 February 2020 inclusive:
Details for: Harbour Asset Management Limited
Jarden Securities Limited
(previously named First NZ
Capital Securities 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.
As beneficial owner,
through normal on-market
trading activity, with 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 and in relation
to stock borrow in place.
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 Share.
On-market purchases –
number of shares
3,515,924
3,358,138 822,717
On-market purchases –
Gross Consideration
$24,167,798 $24,310,636 $5,637,261
On-market sales – number
of shares
3,579,069 3,333,641 363,090
On-market sales – Gross
Consideration
$24,078,379 $24,204,586 $3,028,093

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Details after relevant event:
Details for:
Harbour Asset Management
Limited
Jarden Securities Limited
(previously named First NZ
Capital Securities 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.
As beneficial owner, through
normal on-market trading
activity, with 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 and
in relation to stock borrow in
place.
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 Share.
For that relevant interest,
Number held in class after
the relevant event:
18,595,005
102,997 being:
1,997 proprietary holding;&
101,000 borrowing
2,371,080
Percentage held in class 8.198% 0.046% 1.045%
Current registered holder
of financial products:
Various nominees or custodians
for and on behalf of Harbour
Asset Management Limited and
unknown
Proprietary holding:
Jarden Securities Limited
Borrowing from:
Leveraged Equities Finance
Limited & Credit Suisse
Securities (Europe) Limited
FNZ Custodians Limited (as sub-
custodian of Jarden Custodial Services
Limited) and unknown
Registered holder of
financial products once
transfer is registered:
Various nominees or custodians
for and on behalf of Harbour
Asset Management Limited
Proprietary holding:
Jarden Securities Limited
Borrowing from:
Leveraged Equities Finance
Limited & Credit Suisse
Securities (Europe) Limited
FNZ Custodians Limited (as sub-
custodian of Jarden Custodial Services
Limited)

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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) 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.