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 New Zealand Stock Exchange
and
To Steel & Tube Holdings Limited
Relevant event being disclosed: Movement of 1% or more
Date of relevant event: 26 May 2016
Date this disclosure made: 27 May 2016
Date last disclosure made: 13 April 2016
Substantial product holder(s) giving disclosure
Full Name(s): Accident Compensation Corporation (ACC)
Nicholas Bagnall, Guy Elliffe, Paul Robertshawe, Blair Tallott, Blair Cooper,
Jason Familton
Summary of substantial holding
Class of quoted voting products: Ordinary shares (STU NZ)
Summary for: Accident Compensation Corporation (ACC)
Nicholas Bagnall, Guy Elliffe, Paul Robertshawe, Blair Tallott, Blair Cooper,
Jason Familton
For this disclosure,--
(a) Total number held in class: 5,704,647
(b) Total in class: 90,578,026
(c) Total percentage held in class: 6.298%
For last disclosure,--
(a) Total number held in class: 6,644,647
(b) Total in class: 90,578,026
(c) Total percentage held in class: 7.336%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
From 13 April 2016 to 26 May 2016, ACC had the following aggregated on-market
transactions in Steel & Tube Holdings Limited:
o Sales of 940,000 shares for consideration of NZD $2,099,690.46.
Details after relevant event
Details for ACC
Nature of relevant interest(s):
Beneficial owner of securities under ?235(1)(b) of the Financial Markets
Conduct Act
No relevant agreement document needs to be attached under regulation 139.
For that relevant interest,--
(a) Number held in class: 5,704,647
(b) Percentage held in class: 6.298%
(c) Current registered holder(s): ACC via New Zealand Central Securities
Depository Limited (NZCSD)
(d) Registered holder(s) once transfers are registered: unknown
Details for Nicholas Bagnall, Guy Elliffe, Paul Robertshawe, Blair Tallott,
Blair Cooper, Jason Familton
Nature of relevant interest(s):
Qualified powers to exercise control of rights to vote and/or of acquisition
or disposal of some or all of the financial products, of which the Accident
Compensation Corporation ("ACC") is the beneficial owner under ?235(1)(c)and
235(1)(d) of the Financial Markets Conduct Act. Further to regulation
139(2)(b), the material terms of this arrangement are that powers are subject
to ACC investment policies and the decisions of the ACC Investment Committee.
For that relevant interest,
(a) Number held in class: 5,704,647
(b) Percentage held in class: 6.298%
(c) Current registered holder(s): ACC via New Zealand Central Securities
Depository Limited (NZCSD)
(d) Registered holder(s) once transfers are registered: unknown
Details for Blair Cooper
Nature of relevant interest(s):
Beneficial owner of securities under ?235(1)(b) of the Financial Markets
Conduct Act
No relevant agreement document needs to be attached under regulation 139.
For that relevant interest,--
(a) Number held in class: 15,055
(b) Percentage held in class: 0.017%
(c) Current registered holder(s): Blair Cooper, either directly or indirectly
(d) Registered holder(s) once transfers are registered: unknown
For a derivative relevant interest, also--
(a) type of derivative: n/a
(b) details of derivative: n/a
(c) parties to the derivative: n/a
(d) if the substantial product holder is not a party to the derivative, the
nature of the relevant interest in the derivative: n/a
Additional information
Address of substantial product holder(s):
ACC: Justice Centre, 19 Aitken Street, PO Box 242, Wellington, NZ
Contact details: Matthew Cunliffe +64 4 816 5743
investmentscompliance@acc.co.nz
Nature of connection between substantial product holders: Nicholas Bagnall,
Guy Elliffe, Paul Robertshawe, Blair Tallott, Blair Cooper and Jason Familton
are employees of ACC and either a portfolio manager, equity analyst or
corporate governance manager for ACC. Under current ACC investment policies,
they have the discretion to exercise control over some or all the rights to
vote and acquisition or disposal of some or all of the financial products of
which ACC is the beneficial owner
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: n/a
Certification
I, Matthew Cunliffe, 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.
End CA:00283130 For:STU Type:SSH Time:2016-05-27 15:06:26