Air New Zealand 2011 Annual Report Download - page 78

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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).
GENERAL INFORMATION (CONTINUED)
AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 2011