Goodman NZ Limited
Transaction Type: Company meeting (Share buyback)
Independent Adviser(s): Simmons Corporate Finance (rule 18)
Date of meeting: 27/07/2026
Goodman NZ, an NZX-listed issuer comprised of two Code companies (Goodman NZ Limited and Goodman Property Services Limited) whose securities were stapled together (the stapled securities being the Stapled Shares), sought to undertake an on-market buyback of up to:
- 75 million Stapled Shares; or
- $110 million worth of Stapled Shares,
whichever was reached first, over the period:
- commencing 28 July 2026, being the day after its 2026 annual shareholder meeting (the 2026 AGM); and
- ending on the date of its 2027 annual shareholder meeting,
(the Proposed Buyback).
The Proposed Buyback could have potentially resulted in Goodman Funds Management Limited (as responsible entity for the Goodman Industrial Trust) and Goodman Investment Holdings (NZ) Limited increasing their collective voting control by up to 1.65%, from 31.94% to 33.59%. Accordingly, Goodman NZ sought shareholder approval of the Proposed Buyback at the 2026 AGM, pursuant to clause 4 of the Takeovers Code (Class Exemptions) Notice (No 2) 2001.
Goodman NZ's shareholders voted to approve the Proposed Buyback at the 2026 AGM.
Simmons Corporate Finance Limited prepared a rule 18 independent adviser’s report on the merits of the Proposed Buyback.
