Pursuant to section 45 of the Takeovers Act 1993, the Takeovers Panel gives the following notice (to which is appended a statement of reasons of the Takeovers Panel).
| Valuation report |
Excluded provisions |
| Bowen House, 1 Bowen Street, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 22 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Bowen State Building, Bowen Street, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Charles Fergusson Building, Bowen Street, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Defence House, 15-21 Stout Street, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Freyberg Building, 2 Aitken Street, Thorndon, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| New Freyberg Building, corner of Aitken and Mulgrave Streets, Thorndon, Wellington, also known as New Defence House (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 14 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| St Paul's Square, 45 Pipitea Street, Thorndon, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| State Services Commission Building, 100 Molesworth Street, Thorndon, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Vogel Building, 9-15 Mulgrave Street, Thorndon, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 23 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| William Clayton Building, 133 Molesworth Street, Thorndon, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 20 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Novell House, 89 The Terrace, Wellington and Lambton Square, 180 Lambton Quay, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Bayleys Building, 171-177 Lambton Quay, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 20 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Forsyth Barr House, 165-169 Lambton Quay, Wellington (as at 31 March 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 20 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Oracle Tower, 56 Wakefield Street, Auckland (as at 31 March 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 14 and 15 of the report.
- The text contained in the columns of the summary tenancy schedule on page 30 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the tenancy schedule in Appendix 3 of the report, except the tenant and location details, and the headings and totals of each column.
|
| University of Otago Building, 385 Queen Street, Auckland (as at 31 March 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 15 and 16 of the report.
- The text contained in the columns of the summary tenancy schedule on page 31 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the tenancy schedule in Appendix 3 of the report, except the tenant and location details, and the headings and totals of each column.
|
| Kitchener Street Carpark, 6-12 Kitchener Street, Auckland (as at 31 March 2005 prepared by Jones Lang LaSalle Limited |
- The text contained in the second column of the lease summary on page 11 of the report.
- The text contained in the columns of the tenancy schedule in Appendix 3 of the report, except the tenant and location details, and the headings and totals of each column.
|
| National Bank Centre, 205 Queen Street, Auckland (as at 31 March 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 16 and 17 of the report.
- The text contained in the columns of the lease summaries on pages 18 to 22 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the summary tenancy schedule on pages 38 to 40 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the tenancy schedule in Appendix 3 of the report, except the tenant and location details, and the headings and totals of each column.
|
| Forsyth Barr Frater Williams Tower, 55-65 Shortland Street, Auckland (as at 31 March 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 14 to 16 of the report.
- The text contained in the columns of the summary tenancy schedule on page 32 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the tenancy schedule in Appendix 3 of the report, except the tenant and location details, and the headings and totals of each column.
|
| Crown Institute Building, 10-14 Lorne Street, Auckland (as at 31 March 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 13 and 14 of the report.
- The text contained in the columns of the summary tenancy schedule on page 30 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the tenancy schedule in Appendix 3 of the report, except the tenant and location details, and the headings and totals of each column.
|
| 63 Aintree Avenue, Airport Oaks, Auckland, also known as National Bank Computer Base (as at 31 March 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 10 to 12 of the report.
- The text contained in the columns of the tenancy schedule in Appendix 4 of the report, except the tenant and location details, and the headings and totals of each column.
|
| 21 Lady Ruby Drive, East Tamaki, Auckland, also known as the Ashton Scholastic Building (as at 31 March 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 11 and 12 of the report.
- The text contained in the columns of the tenancy schedule in Appendix 4 of the report, except the tenant and location details, and the headings and totals of each column.
|
| Centre City Shopping Centre, 11 Gill Street, New Plymouth (as at 31 March 2005 prepared by CB Richard Ellis Limited) |
- The text contained in the second column of the lease summaries on pages 25 and 26 of the report.
- The text contained in the columns of the summary tenancy schedule on pages 33 and 34 of the report, except the tenant name and shop number details, and the headings and totals of each column.
- The text contained in the columns of the market rentals table on page 41 of the report, except the tenant name and shop number details, and the headings and totals of each column.
|
| Bowen House, 1 Bowen Street, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 23 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Bowen State Building, Bowen Street, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 22 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Charles Fergusson Building, Bowen Street, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Defence House, 15-21 Stout Street, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 22 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Freyberg Building, 2 Aitken Street, Thorndon, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| New Freyberg Building, corner of Aitken and Mulgrave Streets, Thorndon, Wellington, also known as New Defence House (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 14 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| St Paul's Square, 45 Pipitea Street, Thorndon, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 22 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| State Services Commission Building, 100 Molesworth Street, Thorndon, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 22 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Vogel Building, 9-15 Mulgrave Street, Thorndon, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 23 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| William Clayton Building, 133 Molesworth Street, Thorndon, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Novell House, 89 The Terrace, Wellington and Lambton Square, 180 Lambton Quay, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Bayleys Building, 171-177 Lambton Quay, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 20 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Forsyth Barr House, 165-169 Lambton Quay, Wellington (as at 30 September 2005 prepared by Colliers International (Wellington Valuation) Limited) |
The text contained in the columns of-- the summary tenancy schedule on page 21 of the report; and
- the tenancy schedule in Appendix 1 of the report-
except the floor, tenant, and use details, and the headings and totals of each column.
|
| Oracle Tower, 56 Wakefield Street, Auckland (as at 27 September 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 14 and 15 of the report.
- The text contained in the columns of the summary tenancy schedule on page 29 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the tenancy schedule in Appendix 4 of the report, except the tenant and location details, and the headings and totals of each column.
|
| University of Otago Building, 385 Queen Street, Auckland (as at 27 September 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 15 and 16 of the report.
- The text contained in the columns of the summary tenancy schedule on page 30 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the tenancy schedule in Appendix 4 of the report, except the tenant and location details, and the headings and totals of each column.
|
| Kitchener Street Carpark, 6-12 Kitchener Street, Auckland (as at 27 September 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summary on page 11 of the report.
- The text contained in the columns of the tenancy schedule in Appendix 3 of the report, except the tenant and location details, and the headings and totals of each column.
|
| National Bank Centre, 205 Queen Street, Auckland (as at 27 September 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 16 and 17 of the report.
- The text contained in the columns of the lease summaries on pages 18 to 22 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the summary tenancy schedule on pages 36 to 38 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the tenancy schedule in Appendix 4 of the report, except the tenant and location details, and the headings and totals of each column.
|
| Forsyth Barr Frater Williams Tower, 55-65 Shortland Street, Auckland (as at 27 September 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 14 to 16 of the report.
- The text contained in the columns of the summary tenancy schedule on page 31 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the tenancy schedule in Appendix 4 of the report, except the tenant and location details, and the headings and totals of each column.
|
| Crown Institute Building, 10-14 Lorne Street, Auckland (as at 27 September 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 13 and 14 of the report.
- The text contained in the columns of the market rental table on page 27 of the report, except the tenant and location details, and the headings and totals of each column.
- The text contained in the columns of the tenancy schedule in Appendix 4 of the report, except the tenant and location details, and the headings and totals of each column.
|
| 63 Aintree Avenue, Airport Oaks, Auckland, also known as National Bank Computer Base (as at 27 September 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 10 to 12 of the report.
- The text contained in the columns of the tenancy schedule in Appendix 4 of the report, except the tenant and location details, and the headings and totals of each column.
|
| 21 Lady Ruby Drive, East Tamaki, Auckland, also known as the Ashton Scholastic Building (as at 27 September 2005 prepared by Jones Lang LaSalle Limited) |
- The text contained in the second column of the lease summaries on pages 11 and 12 of the report.
- The text contained in the columns of the tenancy schedule in Appendix 4 of the report, except the tenant and location details, and the headings and totals of each column.
|
| Centre City Shopping Centre, 11 Gill Street, New Plymouth (as at 19 September 2005 prepared by CB Richard Ellis Limited) |
- The text contained in the second column of the lease summaries on pages 27 and 28 of the report.
- The text contained in the columns of the tenancy schedule on pages 35 and 36 of the report, except the tenant name and shop number details, and the headings and totals of each column.
- The market rentals table on page 42 of the report, except the tenant name and shop number details, and the headings and totals of each column.
|
This notice applies to acts or omissions occurring on or after 7 October 2005.
The Takeovers Panel has granted an exemption to Capital Properties New Zealand Limited (Capital), subject to conditions, from clause 20(b) of Schedule 2 of the Takeovers Code (the Code) in so far as Capital is required to make available for inspection and provide copies of the valuation reports referred to in Capital's target company statement sent to offerees in relation to a takeover offer by AMP Property Portfolio Investments Limited.
The Panel considers that it is appropriate to grant the exemption in this case because compliance with clause 20(b) of Schedule 2 of the Code would require Capital to make available confidential and commercially sensitive information, which it is not in the interests of Capital or its shareholders to provide.
The Panel considers that the exemption is consistent with the objectives of the Code because the deletion of the commercially sensitive information does not affect the ability of shareholders to assess the merits of the property valuations.
