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: Skellerup Holdings Limited
Relevant event being disclosed: Movement of 1% in the substantial holding
Date of relevant event: 07 March 2017
Date this disclosure made: 09 March 2017
Date last disclosure made: 25 January 2017
Substantial product holder(s) giving disclosure
Full name(s): First Pacific Advisors, LLC ("FPA") is an investment
management firm registered with the U.S.
Securities and Exchange Commission. Pursuant to investment management
contracts, FPA serves as an investment adviser for (i) FPA Funds Trust - FPA
International Value Fund; (ii) FPA Global Opportunity Fund (a series of FPA
Hawkeye Fund, LLC); and (iii) Kinsale Navigator Fund.
Summary of substantial holding
Class of quoted voting products: Ordinary shares (SKL)
For this disclosure:
(a) total number held in class: 13,721,708
(b) total in class: 192,805,807
(c) total percentage held in class: 7.117%
For last disclosure:
(a) total number held in class: 11,713,809
(b) total in class: 192,805,807
(c) total percentage held in class: 6.075%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
There was a movement of 1% or more of the substantial holding. Beginning 24
January 2017 and ending 07 March 2017, FPA on behalf of the above named
registered holders, purchased via on-market trading a total of 2,007,899
shares versus NZD3,119,928. As a result, FPA''s aggregate ownership
increased to 7.117% as of market close on 07 March 2017.
Details after relevant event
FPA Funds Trust - FPA International Value Fund
Nature of relevant interest(s):
Pursuant to an investment advisory agreement dated December 1, 2011, FPA has
the authority to determine, in its sole discretion, the securities to be
purchased or sold on behalf of the Fund, and the power to exercise all voting
rights attached thereto.
For that relevant interest:
(a) number held in class: 8,586,374
(b) percentage held in class: 4.453%
(c) current registered holder(s): FPA Global Opportunity Fund (a series of
FPA Hawkeye Fund, LLC), with additional products purchased on-market
(d) registered holder(s) once transfers are registered: FPA Global
Opportunity Fund (a series of FPA Hawkeye Fund, LLC)
Kinsale Navigator Fund
Nature of relevant interest(s):
Pursuant to an investment management agreement dated September 11, 2015, FPA
was appointed to provide discretionary investment management and advisory
services, including the authority to determine the securities to be purchased
or sold on behalf of the Fund, and the power to exercise all
voting rights attached thereto.
For that relevant interest:
(a) number held in class: 669,964
(b) percentage held in class: 0.348%
(c) current registered holder(s): Kinsale Navigator Fund, with additional
products purchased on-market
(d) registered holder(s) once transfers are registered: Kinsale Navigator
Fund
Additional information
Address of substantial product holder(s):
First Pacific Advisors, LLC, 11601 Wilshire Blvd., Suite 1200, Los Angeles,
CA 90025 USA
Contact details:
Marie McAvenia, (310) 996-5432, marie@fpafunds.com
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, Marie McAvenia, 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:00298076 For:SKL Type:SSH Time:2017-03-10 08:30:42