Trustpower Limited


Transaction Type: Company meeting (Share buyback)

Acquirer: TECT Holdings Limited

Independent Adviser(s): Simmons Corporate Finance (Rule 18)

Date of meeting: 25/07/2014

Exemption: Class Exemptions


Trustpower Limited (Trustpower) was a listed Code company.  Trustpower proposed to extend its buyback programme for a further 3 years.

TECT Holdings Limited (TECT) previously advised that, as a committed shareholder, it would be unlikely to participate in the share buyback. A consequence of TECT's non-participation in any buyback was that TECT's voting control would increase by a small margin.  Trustpower sought approval from its shareholders to allow TECT to retain its increased voting rights under clause 4 of the Takeovers Code (Class Exemptions) Notice (No 2) 2001.