Mike Pero Mortgages Limited - Exemption Notice 2006

Exemptions for Mike Pero Mortgages Limited, Liberty Financial Limited and New Zealand Finance Holdings Limited (NZF) from rule 35 of the Code to enable them to accept an offer from their joint venture company MPMH Limited (MPMH). In order to ensure that the Code's compulsory acquisition price determination process in rules 56 and 57 worked as intended, exemptions were granted to MPMH, Liberty, and NZF from rule 56 to the extent that the shares held or controlled and the acceptances given by Liberty and NZF for the offer by MPMH would otherwise be included in the acceptances of the offer, and the voting securities that were the subject of the offer.

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