13 May 2016
Intention to delist from NZAX
Speirs Group Limited ("SGL") is currently listed with NZX and its ordinary
shares are quoted on NZX''s Alternative Market ("NZAX").
At the SGL 2015 Annual meeting, held on 30 November 2015, the Board of
Directors advised shareholders that:
"The NZX has advised that it is not accepting any new entrants to the NZAX
market and is encouraging NZAX participants to migrate to either its main
board or its new NXT market. The Board is evaluating the options for
maintaining a future market for trading shares and will keep shareholders
updated if any changes are proposed."
NZX has advised that they intend to wind up the NZAX Market.
NZX has advised that SGL does not qualify for migration to either the NZX
Main Board or the NXT market.
To ensure that SGL ordinary shareholders will continue to have access to a
share trading platform, the Board of Directors have initiated discussions
with NZX in respect of a possible delisting from NZAX and are exploring the
potential for listing on the Unlisted securities trading platform. Further
details about Unlisted and its regulatory status can be found at
www.unlisted.co.nz
The delisting from the NZAX and the listing on Unlisted will be subject to
shareholder approval by ordinary resolution at a meeting of shareholders.
The Board will keep shareholders updated as this process progresses.
Speirs Group Limited is an NZAX listed company based in the
Manawatu/Rangitikei area and is primarily involved in fresh food production
and nationwide distribution (through Speirs Foods Limited, a wholly owned
subsidiary) and as a minority shareholder in Advaro Financial Services
Limited, and Rosa Foods Limited. Speirs Foods Limited manufactures and
distributes fresh foods, mainly fresh salads, to supermarkets and the food
service industry across New Zealand.
For further information please contact:
Derek Walker
Chairman, Speirs Group Limited
derek@thirdbearing.co.nz
021 428 461
ENDS
End CA:00282347 For:SGL Type:GENERAL Time:2016-05-13 10:10:27