Air New Zealand 2008 Annual Report Download - page 74

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THE TAKEOVERS CODE
The powers of the Board outlined above in relation to limiting acquisitions of its securities are in addition to the requirements of the New Zealand
Takeovers Code. The Takeovers Code contains the following rules regulating acquisitions of substantial holdings.
The Takeovers Code creates a general rule under which the acquisition of 20 percent or more of the voting rights in the Company or the increase of an
existing holding of 20 percent or more of the voting rights in the Company can only occur in certain permitted ways. These include a full takeover offer in
accordance with the Takeovers Code, a partial takeover offer in accordance with the Takeovers Code, an acquisition approved by an ordinary resolution,
an allotment approved by an ordinary resolution, a creeping acquisition (in certain circumstances) or compulsory acquisition if a shareholder holds 90%
or more of the voting rights in the Company.
CORPORATIONS ACT 2001 (AUSTRALIA)
The Company is not subject to Chapters 6, 6A, 6B and 6C of the Corporations Act dealing with the acquisition of shares (such as substantial holdings
and takeovers).
AIR NEW ZEALAND
GENERAL INFORMATION (CONTINUED)
72