SPH Notice - China Resources Enterprise, Limited ("CRE")

1

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
Relevant event being disclosed: Change in nature of relevant interest in substantial holding
Date of relevant event: 23 October 2024
Date this disclosure made: 24 October 2024
Date last disclosure made: 25 July 2022
Substantial product holder(s) giving disclosure
Full name(s): China Resources Enterprise, Limited ("CRE")
Summary of substantial holding
Class of quoted voting products: Ordinary shares in Scales Corporation Limited (NZX: SCL)
("SCL").
Summary for CRE
For this disclosure,—
(a) total number held in class: 21,292,306
(b) total in class: 143,571,527
(c) total percentage held in class: 14.830%
For that relevant interest—
- 21,250,000 (14.801%) - China Resources Enterprise, Limited
- 42,306 (0.029%) – China Resources Enterprise, Limited (Custodian – The Hong
Kong and Shanghai Banking Corporation Limited)
For last disclosure,—
(a) total number held in class: 21,500,000
(b) total in class: 142,721,868
(c) total percentage held in class: 15.064%

2

Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure: On 23 October 2024, CRE
entered into a block trade agreement (attached to this notice) with Craigs Investment
Partners ("CIP"), under which CRE appointed CIP to manage and underwrite the sale of
21,250,000 ordinary shares in SCL held by CRE for a price to be determined under the
procedures set out in the block trade agreement. As a consequence of that agreement,
there is also a qualification on the power of CRE to dispose of, or control disposal of, such
shares. Settlement of that sale is expected to occur on 25 October 2024.
There has been no change to the beneficial interest held by CRE in the 42,306 ordinary
shares in SCL held by The Hong Kong and Shanghai Banking Corporation Limited in its
capacity as custodian for CRE.
Details after relevant event
Details for China Resources Enterprise, Limited
Nature of relevant interest(s): Registered holder and beneficial owner of financial products
For that relevant interest,—
(a) number held in class: 21,250,000
(b) percentage held in class: 14.801%
(c) current registered holder(s): China Resources Enterprise, Limited
(d) registered holder(s) once transfers are registered: No change
Nature of relevant interest(s): Beneficial owner of financial products
For that relevant interest,—
(a) number held in class: 42,306
(b) percentage held in class: 0.029%
(c) current registered holder(s): The Hong Kong and Shanghai Banking Corporation
Limited (Custodian)
(d) registered holder(s) once transfers are registered: No change
Additional information
Address(es) of substantial product holder(s): 39/F China Resources Building, 26 Harbour
Road, Wanchai, Hong Kong.
Contact details: China Resources Enterprise, Limited
C/- Ian Beaumont
Russell McVeagh
Level 30
48 Shortland Street, Auckland
Telephone: +64 9 367 8302
Email: ian.beaumont@russellmcveagh.com

3

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: Craigs Investment Partners Limited.
Certification
I, Chen Ying, director of China Resources Enterprise, Limited, certify that, to the best of
our knowledge and belief, the information contained in this disclosure is correct and that
we are duly authorised to make this disclosure by all persons for whom it is made.

4

ATTACHMENT
BLOCK TRADE AGREEMENT