Appointments to the Takeovers Panel

26 September 2008

Commerce Minister Lianne Dalziel has announced two appointments to the board of the Takeovers Panel, an independent Crown entity.

"I am pleased that the Governor-General has appointed Murdo Beattie and Andy Coupe to the Panel and value the expertise that they bring. Both Mr Beattie and Mr Coupe have been appointed for terms of five years.

"The Takeovers Panel has an important role in ensuring transparent and equitable takeover processes in order to increase confidence in the integrity of the New Zealand corporate takeovers market," said Lianne Dalziel.

Brief Backgrounds

Murdo Beattie is a Partner in Cameron Partners Limited, a leading New Zealand investment banking firm. He has considerable experience in the New Zealand takeovers market, having advised both acquirers and companies responding to offers.

Andy Coupe is a Senior Advisor for Investment Banking at UBS New Zealand Limited and has over 27 years of experience in the New Zealand capital markets, including advising on several of New Zealand's major takeovers transactions.

The Takeovers Panel, established under the Takeovers Act 1993, is an independent Crown entity under the Crown Entities Act 2004. The Governor-General, on the recommendation of the Minister, appoints the members of the Panel, which consists of between five and eleven members. One of the positions on the Panel is filled by a member of the Australian Takeovers Panel in a reciprocal trans-Tasman arrangement. Under these arrangements the Chairman of the New Zealand Panel, David Jones, is a member of the Australian Panel.

Contact: Elspeth (Ellie) McIntyre, Press Secretary, ph 04 471 9397 cell 021 227 9397