CHI – Trading Halt of Securities

NZX Limited
Level 2, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com

Memorandum

To:
Market Participants
From:
NZX Product Operations
Date:
Monday, 25 November 2024
Subject
: Channel Infrastructure NZ Limited (“CHI”) – Trading Halt of Securities


Message
:

NZ RegCo advises that, at the request of the Channel Infrastructure NZ Limited (“CHI”), it has
placed a trading halt on CHI ordinary shares, and CHI020 and CHI030 debt securities. The
trading halt was halted at pre-market open today, Monday, 25 November 2024.
Attached is the trading halt application, for further information.
Please contact NZX Product Operations on +64 4 496 2853 or productoperations@nzx.com
with any queries.

ENDS

---

25 November 2024
To: NZ RegCo
11 Cable St
Wellington
New Zealand
By email: issuer@nzregco.com
Request for trading halt: Channel Infrastructure NZ Limited (NZX: CHI)
We request a trading halt to be applied to Channel Infrastructure NZ Limited’s ordinary shares (ISIN
NZNZRE0001S9), CHI020 vanilla corporate bonds (ISIN NZCHIDT002C2) and CHI030 vanilla corporate bonds
(ISIN NZCHIDT003C0) under NZX Listing Rule 9.9.1(a) and set out below details of the request as per the rules
of NZX.
We would like the trading halt to commence from prior to the commencement of trading today, 25 November
2024 and being lifted at the earlier of: (i) announcement of completion of the Institutional Entitlement Offer and
Institutional Bookbuild (as defined below); and (ii) opening of trading on the NZX on 27 November 2024.
Reasons for trading halt:
Channel Infrastructure is proposing to raise approximately NZ$50 million of new capital by way of an accelerated
renounceable entitlement offer (the “Offer”) of new ordinary shares in Channel Infrastructure (“Shares”),
comprising:
• a pro rata entitlement offer of Shares (“Institutional Entitlement Offer”) to institutional shareholders
in New Zealand, Australia, Hong Kong and Singapore;
• a bookbuild process (“Institutional Bookbuild”) under which Shares attributable to entitlements that
are not taken up, or are not able to be taken up, by institutional shareholders in the Institutional
Entitlement Offer, are offered to eligible institutional shareholders who have taken up their entitlements
in full and to institutional investors in New Zealand, Australia, Hong Kong and Singapore;
• a pro rata entitlement offer of Shares (“Retail Entitlement Offer”) to shareholders with a registered
address at the record date for the Offer in New Zealand or Australia and who are not institutional
shareholders; and
• a bookbuild process (“Retail Bookbuild”) under which Shares attributable to entitlements that are not
taken up, or are not able to be taken up, by retail shareholders in the Retail Entitlement Offer, are offered
to eligible retail shareholders who have taken up their entitlements in full and to institutional investors in
New Zealand, Australia, Hong Kong and Singapore.
The Offer is to be managed by Forsyth Barr Limited and fully underwritten by Forsyth Barr Group Limited
(together, “Forsyth Barr”).
It is intended that:
• the Offer will be announced to the market prior to the market opening on 25 November 2024;
• the Institutional Entitlement Offer will complete on 25 November 2024;

Pg. 2
• the Institutional Bookbuild will take place on 26 November 2024.
Channel Infrastructure is requesting this trading halt while the Institutional Entitlement Offer and Institutional
Bookbuild components of the Offer are being conducted. A separate application for a trading halt will be made in
respect of the Retail Bookbuild, at the relevant time.
Channel Infrastructure considers that a trading halt is desirable to enable Forsyth Barr and Channel
Infrastructure to conduct the Institutional Entitlement Offer and Institutional Bookbuild and determine the
allocation of Shares. Channel Infrastructure considers that, but for the trading halt, the Institutional Entitlement
Offer and Institutional Bookbuild would impact a fair, orderly or transparent market as information about the
Institutional Entitlement Offer, Institutional Bookbuild or take up by investors may be known by some market
participants and not others, so the market would not be trading on a fully informed basis.
As soon as the Institutional Entitlement Offer and Institutional Bookbuild and the allocation of Shares under
them is completed, Channel Infrastructure will be in a position to release details of the results of the Institutional
Entitlement Offer and Institutional Bookbuild to the market. Channel Infrastructure believes that such
information will be price sensitive.
How long we want the trading halt to last:
We would like the trading halt to last up to two trading days, commencing from the commencement of trading on
25 November 2024 and being lifted at the earlier of: (i) announcement of the outcome of the Institutional
Entitlement Offer and Institutional Bookbuild, and (ii) opening of trading on the NZX on 27 November 2024.
The event we expect to happen that will end the trading halt:
We expect the trading halt to end once we are in a position to announce the outcome of the Institutional
Entitlement Offer and Institutional Bookbuild. We expect this to occur on 26 November 2024 or before market
open on the NZX on 27 November 2024.
Other information necessary to inform the market about the trading halt or that NZ RegCo has
requested:
Immediately before the Institutional Entitlement Offer, Channel Infrastructure will release an announcement, a
cleansing notice, an investor presentation and an offer document in connection with the Offer.
We confirm that we are not aware of any reason why the trading halt should not be granted.
Yours sincerely


Chris Bougen
General Counsel and Company Secretary