SPH Notice - Craigs Investment Partners Limited

1
Disclosure of ceasing to have substantial holding
Section 279, Financial Markets Conduct Act 2013
To NZX Limited
and
To Scales Corporation Limited (SCL)
Date this disclosure made: 25 October 2024
Date last disclosure made: 24 October 2024
Date on which substantial
holding ceased:
25 October 2024

Substantial product holder(s) giving disclosure
Full name(s): Craigs Investment Partners Limited

Summary of previous substantial holding
Class of quoted voting
products:
Ordinary shares
Summary for: Craigs Investment Partners Limited

For Last
disclosure -
(a) total
number held
in class:
25,058,270
(b) total in
class:
143,571,527

(c) total
percentage
held in class:
17.454%

Details of relevant interests

Details for:
Craigs Investment Partners
Limited (as Underwriter)
Craigs Investment Partners
Limited
Nature of relevant interest(s): As Underwriter of financial
products pursuant to the
attached Block Trade
Agreement
As discretionary investment
manager, the power to
exercise a right to vote
attached to, and power to
acquire or dispose of, the
products under powers
contained in investment
management contracts
with clients (the beneficial
owners of the products).

2
For that
relevant
interest -
number held in
class:
21,250,000

3,808,270

percentage
held in class:
14.801%

2.653%

current
registered
holder of
financial
products:
China Resources
Enterprise, Limited

Custodial Services Limited
registered
holder of
financial
products once
transfer is
registered:
Unknown


Relevant agreement was
attached to notice filed
on 24 October 2024
Custodial Services Limited


No relevant agreement
needs to be attached
under regulation 139

For current holding after ceasing to have substantial holding

Class of quoted voting
products:
Ordinary shares
Summary for: Craigs Investment Partners Limited

For current
disclosure -
(a) total
number held
in class:
4,597,398
(b) total in
class:
143,571,527

(c) total
percentage
held in class:
3.202%

3

Details of relevant interests

Details for: Craigs Investment Partners
Limited (as Underwriter)
Craigs Investment Partners
Limited
Nature of relevant
interest(s):
Cessation of relevant interests
as Underwriter of financial
products pursuant to the
Block Trade Agreement
following settlement of
transactions under that
agreement.
As discretionary investment
manager, the power to exercise
a right to vote attached to, and
power to acquire or dispose of,
the products under powers
contained in investment
management contracts with
clients (the beneficial owners of
the products).
For that
relevant
interest -
number
held in
class:
0

4,597,398

percentage
held in
class:
0%

3.202%

current
registered
holder of
financial
products:
China Resources Enterprise,
Limited
Custodial Services Limited
registered
holder of
financial
products
once
transfer is
registered:
Unknown




Custodial Services Limited



No relevant agreement needs to
be attached under regulation
139

Details of transactions and events giving rise to relevant event
Details of the transactions or
other events requiring
disclosure:
Craigs Investment Partners Limited entered into a Block
Trade Agreement with China Resources Enterprise, Limited
(CRE) on 23 October 2024 (the Block Trade Agreement)
under which Craigs Investment Partners Limited was
appointed to manage and underwrite the sale of
21,250,000 ordinary shares in Scales held by CRE for a price
to be determined under the procedures set out in the Block
Trade Agreement.
In doing so, Craigs Investment Partners Limited acquired a
relevant interest, being the power to acquire and dispose
of, or to control the acquisition or disposition of, the shares.

4
A copy of the Block Trade Agreement was attached to the
SSH notice filed by CRE on 24 October 2024.
Following the allocation of Scales shares in the block trade,
Craigs Investment Partners Limited no longer has a relevant
interest in shares acquired under the Block Trade
Agreement and therefore is no longer a substantial financial
product holder.

Additional information
Address(es) of substantial
product holder(s):
158 Cameron Road, Tauranga, New Zealand
Contact details:
Regan Carey, + 64 7 927 7926, Regan.Carey@craigsip.com
Nature of connection
between substantial product
holders:
N/A

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: China Resources Enterprise, Limited.
Certification
I, Regan Carey, 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.