IRG Investment Yearbook

2010 - 2011 NEW ZEALAND

INVESTMENT Yearbook

The Essential Investment Handbook for all Kiwi Share Traders and Investors

38th Edition • INVESTMENT RESEARCH GROUP

MAKE MORE MONEY ON THE MARKET

Since 1973, The Investment Year Book has helped people make profitable decisions about the share market. Produced by IRG, New Zealand’s leading independent investment research company, it is specifically designed to give investors the information they need in a quick and convenient form.

Covering every company in the New Zealand share market, plus the top 100 Australia listed companies, the IRG Year Book gives you:

• Depth of knowledge about a company with an overview of key events from the day it listed.

• Website links so you can undertake further research.

• A financial history so you can assess a company’s financial strength and look for trends.

• Coverage of each company’s latest financial result, including profit outlook for the coming year.

• Broker’s earning forecasts for major companies.

PLUS graphs, market overviews, dividend details and performance.

The 2009-10 Investment Year Book - the share market at your fingertips.

Investment Research Group Ltd Level 13, 57 Fort St Auckland City, New Zealand Tel: (09) 3040145 Tel: 0800 IRGNOW (474669) Fax: (09) 358 3858 PO Box 1214 Shortland Street, Auckland www.irg.co.nz

Issue 170

February 09

$7.50

EQUITY INVESTMENT ADVISERS & SHAREBROKERS

Profiting from the pain Our stock picks for 2009

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ew Zealand Investor is published eleven times a year and provides New Zealand investors with comprehensive, informed views about investing. The magazine reports on economic trends, share market tips, performance figures, along with financial education features and new investment ideas. Content is uncomplicated and directed at an increasing population of investors who wish to retain control of their portfolios but require additional information from experienced advisers.

Regular Topics covered by New Zealand Investor Magazine: The Economy A periodic overview of national, regional and world economic environments and what’s ahead for New Zealand investors The Sharemarket Shares and sharemarket trusts are reviewed and recommended Property Reports and recommendations on property investment around New Zealand and Australia, specifically on New Zealand listed and unlisted property companies Fixed Interest Where to find the best returns for given risks in the New Zealand and Australian market place including finance companies, bonds and capital notes Saving for Retirement Arguably the single most important issue facing younger New Zealanders today Tax Strategies Current legislation is reviewed and options presented for reducing tax liability

For a FREE Sample Issue call 0800 IRG NOW (474 669)

i

INVESTMENT YEARBOOK - 2009-10

AN IRG PUBLICATION

ISBN 0-473-10994-8

A handbook of financial information and comments covering major listed companies of Australia and New Zealand CONTENTS NZ Market Profile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v Major Indices - Constituents .. . . . . . . . . . . . . .. . . .vi NZX Additions/Deletions . . . . . . . . . . . . . . . . . . . . .vii Explanatory Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . .ix NZX Profit Announcements Calendar. . . .. . . . . . .xi NZX Market Cap Summary . . . . . . . . . . . . . . . . . . . . .vxi NZX Dividends Paid Summary . . . . . . . . . . . . . . . . . .xxi NZX Listed Company Profiles . . . . . . . . . . . . . . . . .1-152 NZX Forecast. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .153 ASX Market Profile . . . . . . . . . . . . . . . . . . . . . . . . . . . .160 ASX Additions/Deletions . . . . . . .. . . . . . . . . . . . . . . 161 ASX Dividends Paid Summary . . . . . . . . . . . . . . . . .162-164 ASX Listed Company Profiles . . . . . . . . . . . . . . . . . . . . .165-265

Published annually since 1973 Published by:

37th Edition

INVESTMENT RESEARCH GROUP LTD P O Box 1314 Shortland Street, Auckland Phone: 64-9-304 0145 Fax: 64-9-358 3858 email: info@irg.co.nz June 2009 Advertising enquiries: 09-304-0145 Disclaimer: This book is compiled by Investment Research Group Ltd ("IRG") as an information source for investors.

This information must not be construed as an offer of any securities or other financial products and is not an invitation to you to take up securities or other financial products. Neither IRG nor its employees makes any warranties or representations in relation to the provision of the data by it, including, but not limited to, the accuracy or completeness of the data. The content in this book is derived from sources believed to be accurate and current as at the date of compilation, but IRG shall have no liability to the user or any other party for any loss or damage, howsoever arising, out of or in connection with any errors or inaccuracies in the data supplied, or the consequences of any action taken by the user. Note: Company outlooks were provided from company reports and statements and were correct and valid at time of print.

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Tel: 0800 437 8489 email: info@equity.co.nz IRG Equity Investment Advisors Ltd Level 13, 57 Fort St, Auckland www.equity.co.nz A free disclosure statement is available upon request

New Zealand Market Profile The New Zealand share market ended the year to 31 March 2009 with a robust upturn, bringing a small piece of good news to shareholders who had endured one of the most severe corrections for many years, if not decades.

The NZX-50 Gross Index finished the financial year down by around 51% from the beginning of 2008, a period of some 15 months, when the market correction was just beginning to make its presence felt in a serious manner.

iii

The global economic slowdown also hurt export volumes, which fell 3%.

New Zealand’s economy contracted 1.9% year-on-year in the year to December but in annual average terms grew 0.2% in 2008 compared with 2007.

To deal with a rapidly slowing economy, the Reserve Bank slashed its Official Cash Rate, which influences interest rates offered by banks, by six times, bringing it down from around 8% to just 3%.

However, this did not stop the effects of the downturn being felt in many areas with used car imports from Japan plummeting, house prices falling and mortgagee sales rising, unemployment rising and the New Zealand dollar The NZX-10 Index, which measures the market’s largest weakening. shares by capitalisation, went from 3535.42 to 2708.64, a decline of 23.4% while the NZX All Gross Index, which The New Zealand population, eager for change from a measures the entire market, fell from 3468.09 to 2635.37, nine-year Labour government, elected National and its leader John Key in November. Key quickly began making a fall of 24%. a number of changes designed to soften the blow of During 2008 the New Zealand economy felt the impact economic decline, including a tax cut and increased of a global credit crisis and the resulting decline in global spending on infrastructure. economic activity. This led to falling food and commodity The outlook for 2009 is for a continuation of the trends prices. in 2008. The International Monetary Fund expects the As a result the economy contracted in each of the four New Zealand economy to shrink by 2%, not least because quarters of 2008, with the gross domestic product (GDP households have high debt levels, falling house and equity dropping by around 0.9% in the last three months of 2008. prices and uncertain employment prospects.

This was reported to be the largest quarterly contraction in Meanwhile, unemployment is expected to continue rising. more than 16 years.

In the final three months of 2008, the unemployment rate In the last quarter a fall in manufacturing and construction jumped 0.4 percentage points to 4.6%, the highest level activity offset a rise in the agriculture sector, led by higher since 2003. The Treasury department forecasts that by early 2010 the jobless rate may rise to an 11-year high dairy production and government spending. of 7.2%.

Household spending remained subdued, as people spent less on cars, furniture and appliances, and on food and The outlook for corporate earnings is mixed, but in drink. Business investment also contracted, particularly on general New Zealand companies have resilient businesses plant machinery and equipment, while spending on new and moderate debt levels and this should underpin the performance of the share market. housing slumped for the fifth straight quarter.

On a year-to-year basis, the index moved from 3470.43 at April 1 2008 to 2590.39 at March 31 this year. That is a decline of 25.4%.

Major NZX & ASX Constituents

Class Company

Indexed Shares

NZX10 AIA CEN FBU FPH IFT KIP RYM SKC SKT TEL

Auckland International Airport Limited 1,224,957,639 Contact Energy Limited 576,633,982 Fletcher Building Limited 582,030,829 Fisher & Paykel Healthcare Corporation Limited 509,530,912 Infratil Limited 520,208,618 Kiwi Income Property Trust 781,511,578 Ryman Healthcare Limited 500,000,000 Sky City Entertainment Group Limited 558,642,374 Sky Network Television Limited 297,515,759 Telecom Corporation of New Zealand Limited 1,838,904,509

NZX50 AIA AIR AMP ANZ APN APT CAV CEN EBO FBU FPA FPH FRE GFF GMT GPG HLG IFT IMP ING KIP LNN MFT MHI MVN NPX NZO NZR NZS NZX PFI PGW POT PPL PRC RAK RYM SAN SKC SKL SKT STU TEL THL TLS TPW TWR

Auckland International Airport Limited Air New Zealand Limited AMP Limited

1,224,957,639 253,983,564 41,252,850 Australia and New Zealand Banking Group Limited 21,581,020 APN News & Media Limited 133,595,926 AMP NZ Office Trust 539,373,176 Cavalier Corporation Limited 26,841,703 Contact Energy Limited 576,633,982 Ebos Group Limited 42,818,356 Fletcher Building Limited 582,030,829 Fisher & Paykel Appliances Holdings Limited 290,375,990 Fisher & Paykel Healthcare Corporation Limited 509,530,912 Freightways Limited 147,271,935 Goodman Fielder Limited 399,884,217 Goodman Property Trust 614,966,275 Guinness Peat Group PLC 1,235,192,714 Hallenstein Glasson Holdings Limited 27,181,553 Infratil Limited 520,208,618 ING Medical Properties Trust 85,675,958 ING Property Trust 377,680,349 Kiwi Income Property Trust 781,511,578 Lion Nathan Limited 22,224,405 Mainfreight Limited 80,651,424 Michael Hill International Limited 122,701,436 Methven Limited 18,155,811 Nuplex Industries Limited 759,188,912 New Zealand Oil and Gas Limited 384,067,359 The New Zealand Refining Company Limited 34,800,510 NZ Farming Systems Uruguay Limited 196,231,865 NZX Limited 15,987,267 Property for Industry Limited 212,434,449 PGG Wrightson Limited 151,975,801 Port of Tauranga Limited 60,347,340 Pumpkin Patch Limited 82,309,869 Pike River Coal Limited 210,498,685 Rakon Limited 41,622,142 Ryman Healthcare Limited 500,000,000 Sanford Limited 49,028,664 Sky City Entertainment Group Limited 558,642,374 Skellerup Holdings Limited 55,246,983 Sky Network Television Limited 297,515,759 Steel & Tube Holdings Limited 29,430,590 Telecom Corporation of New Zealand Limited 1,838,904,509 Tourism Holdings Limited 34,129,960 Telstra Corporation Limited 13,573,167 TrustPower Limited 52,377,646 Tower Limited 126,909,288

v

Class Company VCT WBC WHS

Indexed Shares

Vector Limited Westpac Banking Corporation The Warehouse Group Limited

244,755,077 30,269,180 89,112,974

Phone: 07 578 3863 143 Durham St Tauranga

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vi

Additions, Deletions & Name Changes

Code

Prev Code

PEO AAD RPL OMG RLV RLV MCH CFG USN VIK IRG CTG NZX BIO GFL VIX LLA CTL PVO XRO LLA MPY

Date

Details

16/04/09 30/03/09 06/01/09 24/12/08 17/12/08 23/10/08 20/10/08 02/09/08 25/08/08 18/08/08 24/07/08 01/07/08 01/07/08 27/06/08 06/06/08 08/05/08 08/05/08 08/05/08 07/04/08

People Telecom Ltd (Overseas Issuer) delisted ABN AMRO Equity Derivatives New Zealand Ltd delisted Richina Pacific Ltd delisted Orion Minerals Group Ltd changed code RLV No. 3 Ltd renamed Orion Minerals Group Ltd Mr Chips Holdings Ltd delisted Cooks Food Group Ltd listed UBS Securities New Zealand Ltd delisted Viking Capital Ltd renamed Investment Research Group Ltd Cabletalk Group Ltd delisted New Zealand Exchange Ltd renamed NZX Ltd ICP Biotechnology Ltd delisted Geneva Finance Ltd listed VIX International Ltd delisted Living and Leisure Australia Ltd delisted Cadmus Technology Ltd delisted Provenco Group Ltd renamed ProvencoCadmus Ltd Xero Live Ltd renamed Xero Ltd MFS Living and Leisure Group renamed Living and Leisure Australia Ltd

HANDMADE SINCE

Diamond & Precious Gem Importers Custom Made Jewellery

Mezzanine Floor 8 Sunset Terrace Botany Town Centre Auckland ph 09-274 5559 fax 09-274 5553

Guthries Jewellers Ltd 3rd Floor Dingwall Building

Info@guthries.co.nz

87 Queen street Auckland ph 09-309 8491 fax 09-309 6049

www.guthries.co.nz

Explanatory Notes This is the 37th edition of the Investment Year Book, and again in 2009 it includes coverage of New Zealand listed companies and some 100 leading Australian companies. The book’s principal purpose - to profile listed companies and related stock exchange information, has remained unchanged since the first edition was published in 1973.

Considerable efforts have been made to ensure that data published is accurate and current at date of publication. All financial reports issued up to the date of going to press (early April) have been included, comments in all cases have been edited a short time prior to publication and updated where necessary for latest corporate actions.

Salient terms and ratios referred to in this book are described briefly below: ABBREVIATIONS – Most of the abbreviations used will be self-evident or well known. They include Sh/Equity (shareholders’ equity), NTA (net tangible assets per share), EPS (earnings per share), DPS (dividend per share, net of imputation credits).

ANNUALISED FIGURES – All figures shown in company financial profiles are for financial years stated. However, when reporting periods involve a period of more or less than a full year, figures for New Zealand companies are annualised in all cases, and ratios are based on the annualised data.

For Australian companies, periods of more or less than 12 months are not annualised, but the relevant period (number of months) is recorded in the Financial Summary.

INDICES – Many of the companies reviewed in the book are constituents of Stock Exchange indices. In respect of New Zealand companies, the constituent companies of the two major indices (the NZSE-10 and NZSE-50) are summarised separately. In respect of Australian companies, the S&P/ASX 200 index is the most relevant for New Zealand investors, and companies reviewed in this book principally comprise major constituent companies of this index.

Exceptions are a few companies with particular interest to New Zealand investors.

ORD DIVIDENDS – The dividend dates and amounts in the information section of company profiles relate to the immediate past financial year. Dividend information in this section sometimes differs from the adjusted DPS data in the financial tables, because the latter figures (for NZ companies in the book) are issue adjusted, whereas the former are not. Dividend data in the NZ tables makes no allowance for imputation credits - these are summarised separately

ix

in the section on dividends. For Australian companies, the applicable franking credit is stated in each case (even though franking credits are not allowable to NZ shareholders for tax purposes).

EPS and DPS – All earnings and dividends are expressed in cents per share; thus EPS refers to earnings per share and DPS to dividends per share.

Data relating to New Zealand companies is adjusted for issues, both bonus and cash, and diluted, where applicable, for the effects of convertible securities on issue. Data relating to Australian companies is not adjusted for these items.

REPORTED PROFIT – Profit as reported, including equity earnings (that is, the company’s share of profits of associated companies, over and above dividends received).

Where applicable, the interests of outside shareholders are excluded.

NORMALISED PROFIT – Profit, as above, excluding nonrecurring or unusual items. These could be items such as amortisation of intangibles, one-off profits or losses on asset sales, one-off provisions or restructuring costs. Note that Australian Accounting Standards no longer include the concept of abnormal items, but do require the separate statement of material or “significant” items included in results, which are recorded (on a pre-tax basis) in Australian company profiles.

NET TANGIBLE ASSET BACKING (NTA) – This figure represents the value of net tangible assets supporting each issued share. Where applicable NTA figures have been diluted for the effects of convertibles on issue, by allowing for a notional conversion of such convertibles.

SHARE PRICE CHARTS – 5-year Gross price/volume charts are also shown for all companies, based on daily price movements in the period applicable. All prices in charts are adjusted for issues and dividends so that meaningful trends are shown. Charts also show 60-day moving average trend lines.

TAXATION – The present maximum rate of company tax in New Zealand is 30c per $1 of taxable profit, effective from 1 April 2008, reduced from the previous rate of 33c per $1.

The corresponding figure for Australia is 30c, reduced from 34c in 2000.

Ara, a unique story of place, people and wine Ara is a convergence of land, climate, nature and human experience that inspires distinctive and exceptional character in wine.

As custodians of the land at Ara, we share a depth of knowledge and experience that holds the promise of a new legend in wine.

Our wines Carefully tended, close planted vines allow Ara to amplify and refine the quality and distinctiveness of the renowned Marlborough sauvignon blanc and pinot noir varitieties.

Anchored within the Ara origin, we have developed three ranges of individual boutique wines. Resolute, Composite and Pathway; all crafted to uncompromising quality standards and share a common sense of place. Yet, each wine reflects unique facets of the site interpreted by the skill and vision of the winemaker.

We are winepeople on a path to create a new legend in wine

x

Announcements Calendar - Year to 31 March 2009

Company

INT/ FIN

Date

APRIL Scott Technology Ltd

INT

02-Apr-08

SunSeeker Energy (Australasia) Ltd INT 07-Apr-08 Dairy Equity Ltd

INT

10-Apr-08

Restaurant Brands New Zealand Ltd

FIN

10-Apr-08 NZF Group Ltd

FIN

29-Apr-08

Company

INT/ FIN

Date

Kirkcaldie & Stains Ltd

INT

07-May-08

Widespread Energy Ltd

FIN

08-May-08

Kiwi Income Property Trust

FIN

14-May-08

Wakefield Health Ltd

FIN

14-May-08

Xero Ltd

FIN

14-May-08

Goodman Property Trust

FIN

15-May-08

TrustPower Ltd

FIN

15-May-08

Kermadec Property Fund Ltd FIN

16-May-08

Infratil Ltd

20-May-08

FIN

Fisher & Paykel Healthcare Corporation Ltd

FIN

21-May-08

30-May-08

Glass Earth Gold Ltd

Mainfreight Ltd

FIN

30-May-08

Telecom Corporation of New Zealand Ltd

NZX 10 Index Fund

FIN

30-May-08

08-Aug-08

NZX Australian MidCap Index Fund (The)

FIN

30-May-08

FIN

Fletcher Building Ltd

FIN

13-Aug-08

Turners & Growers Ltd

INT

13-Aug-08

30-May-08

NZ Farming Systems Uruguay Ltd FIN 14-Aug-08

Pacific Edge Biotechnology Ltd FIN

30-May-08

Opus International Consultants Ltd INT 14-Aug-08

Smartpay Ltd

30-May-08

Steel & Tube Holdings Ltd

FIN

Jasons Travel Media Ltd

FIN

03-Jun-08

Burger Fuel Worldwide Ltd

FIN

11-Jun-08

Comvita Ltd

FIN

11-Jun-08

Media Technology Group Ltd FIN

12-Jun-08

BLIS Technologies Ltd

FIN

13-Jun-08

Botry-Zen Ltd

FIN

13-Jun-08

Geneva Finance Ltd

FIN

13-Jun-08

Holly Springs Investments Ltd FIN

13-Jun-08

Investment Research Group Ltd FIN

13-Jun-08

Seeka Kiwifruit Industries Ltd FIN

13-Jun-08

Speirs Group Ltd

FIN

13-Jun-08

A2 Corporation Ltd

FIN

16-Jun-08

Plus SMS Holdings Ltd

FIN

16-Jun-08

Pulse Utilities New Zealand Ltd FIN

16-Jun-08

Connexionz Ltd

FIN

27-Jun-08

Smiths City Group Ltd

FIN

27-Jun-08

NZX 50 Portfolio Index Fund

FIN

30-Jun-08

Propertyfinance group Ltd

FIN

30-Jun-08

21-May-08

Rakon Ltd

FIN

22-May-08

Ryman Healthcare Ltd

FIN

22-May-08

Tower Ltd

INT

22-May-08

Allied Work Force Group Ltd

FIN

23-May-08

ING Property Trust

FIN

27-May-08

Sealegs Corporation Ltd

FIN

27-May-08

Widespread Portfolios Ltd

FIN

27-May-08

Finzsoft Solutions Ltd

FIN

28-May-08

Methven Ltd

FIN

28-May-08

National Property Trust (The)

FIN

28-May-08

Canterbury Building Society

FIN

01-Jul-08

Sanford Ltd

INT

28-May-08

Cynotech Holdings Ltd

INT

AFFCO Holdings Ltd

INT

29-May-08

ASB Capital Ltd

FIN

Property for Industry Ltd NZX Ltd

FIN

07-Aug-08

NZX MidCap Index Fund (The) FIN

FIN

29-May-08

INT

Date

FIN

Kingfish Ltd

Fisher & Paykel Appliances Holdings Ltd

INT/ FIN

Lombard Group Ltd

JUNE

MAY

Company

FIN

14-Aug-08

Michael Hill International Ltd

FIN

15-Aug-08

Austral Pacific Energy Ltd

INT

18-Aug-08

Freightways Ltd

FIN

18-Aug-08

AMP NZ Office Trust

FIN

19-Aug-08

Barramundi Ltd

FIN

19-Aug-08

Marlin Global Ltd

FIN

19-Aug-08

PGG Wrightson Ltd

FIN

19-Aug-08

Satara Co-operative Group

INT

19-Aug-08

Sky Network Television Ltd

FIN

20-Aug-08

Tourism Holdings Ltd

FIN

20-Aug-08

Auckland International Airport Ltd FIN 21-Aug-08 Genesis Research and Development Corporation Ltd

INT

21-Aug-08

New Zealand Refining Company Ltd (The)

INT

21-Aug-08 South Port New Zealand Ltd

FIN

21-Aug-08

Ebos Group Ltd

FIN

22-Aug-08

NZ Windfarms Ltd

FIN

22-Aug-08

Turners Auctions Ltd

INT

22-Aug-08

Goodman Fielder Ltd

FIN

25-Aug-08

Sky City Entertainment Group Ltd FIN 25-Aug-08 Taylors Group Ltd

FIN

25-Aug-08

Air New Zealand Ltd

FIN

26-Aug-08

Contact Energy Ltd

FIN

26-Aug-08

Pyne Gould Corporation Ltd

FIN

26-Aug-08

TeamTalk Ltd

FIN

26-Aug-08

08-Jul-08

Allied Farmers Ltd

FIN

27-Aug-08

15-Jul-08

Charlie’s Group Ltd

FIN

27-Aug-08

INT

21-Jul-08

ING Medical Properties Trust

FIN

27-Aug-08

INT

24-Jul-08

Oyster Bay Marlborough Vineyards Ltd

JULY

FIN

Horizon Energy Distribution Ltd FIN

29-May-08

Renaissance Corporation Ltd INT

29-Jul-08

27-Aug-08

Life Pharmacy Ltd

FIN

29-May-08

Abano Healthcare Group Ltd

30-Jul-08

Tenon Ltd

FIN

27-Aug-08

Mowbray Collectables Ltd

FIN

29-May-08

Vector Ltd

FIN

27-Aug-08

TRS Investments Ltd

FIN

29-May-08

Delegat’s Group Ltd

FIN

28-Aug-08

Zintel Group Ltd

FIN

29-May-08

Apple Fields Ltd

INT

30-May-08

Australian 20 Leaders Fund

FIN

30-May-08

Celsius New Zealand Income Fund FIN 30-May-08 Dorchester Pacific Ltd

FIN

30-May-08

Heritage Gold NZ Ltd

FIN

30-May-08

FIN

AUGUST Livestock Improvement Corporation Ltd

FIN

04-Aug-08 CDL Investments New Zealand Ltd INT 06-Aug-08 Millennium & Copthorne Hotels New Zealand Ltd INT

06-Aug-08

Diligent Board Member Services INC

INT

28-Aug-08 Guinness Peat Group PLC

INT

28-Aug-08

Hellaby Holdings Ltd

FIN

28-Aug-08

Lyttelton Port Company Ltd

FIN

28-Aug-08

Metlifecare Ltd

FIN

28-Aug-08

Announcements Calendar - Year to 31 March 2009

Company

INT/ FIN

Date

Company

INT/ FIN

Date

xi

Company

INT/ FIN

Date

Nuplex Industries Ltd

FIN

28-Aug-08

Xero Ltd

INT

24-Oct-08

Sealegs Corporation Ltd

INT

28-Nov-08

Pike River Coal Ltd

FIN

28-Aug-08

Dairy Equity Ltd

FIN

28-Oct-08

Smartpay Ltd

INT

28-Nov-08

Port of Tauranga Ltd

FIN

28-Aug-08

Methven Ltd

INT

30-Oct-08

Widespread Energy Ltd

INT

28-Nov-08

ProvencoCadmus Ltd

FIN

28-Aug-08

Widespread Portfolios Ltd

INT

28-Nov-08

Wellington Drive Technologies Ltd INT 28-Aug-08 Cavalier Corporation Ltd

FIN

NOVEMBER

DECEMBER

29-Aug-08

Cavotec MSL Holdings Ltd

INT

29-Aug-08

TrustPower Ltd

INT

03-Nov-08

CER Group Ltd

INT

29-Aug-08

Kermadec Property Fund Ltd INT

05-Nov-08

Apple Fields Ltd

FIN

01-Dec-08

Just Water International Ltd

FIN

29-Aug-08

Kirkcaldie & Stains Ltd

FIN

07-Nov-08

Canterbury Building Society

INT

01-Dec-08

New Image Group Ltd

FIN

29-Aug-08

Wakefield Health Ltd

INT

07-Nov-08

Dorchester Pacific Ltd

INT

01-Dec-08

New Zealand Experience Ltd FIN

29-Aug-08

Kiwi Income Property Trust

INT

12-Nov-08

Jasons Travel Media Ltd

New Zealand Oil and Gas Ltd FIN

29-Aug-08

Fisher & Paykel Appliances Holdings Ltd

New Zealand Wine Company Ltd (The)

FIN

29-Aug-08

INT

INT

01-Dec-08

Media Technology Group Ltd INT

02-Dec-08

Burger Fuel Worldwide Ltd

INT

08-Dec-08

Goodman Property Trust

INT

13-Nov-08

Investment Research Group Ltd INT

09-Dec-08

13-Nov-08

FIN

29-Aug-08

Life Pharmacy Ltd

INT

13-Nov-08

Connexionz Ltd

INT

12-Dec-08

Salvus Strategic Investments Ltd FIN

29-Aug-08

Rakon Ltd

INT

14-Nov-08

Holly Springs Investments Ltd INT

12-Dec-08

Infratil Ltd

INT

17-Nov-08

Pulse Utilities New Zealand Ltd INT

12-Dec-08

Kingfish Ltd

INT

18-Nov-08

Speirs Group Ltd

INT

12-Dec-08

TRS Investments Ltd

INT

18-Nov-08

Cooks Food Group Ltd

INT

15-Dec-08

Finzsoft Solutions Ltd

INT

19-Nov-08

Propertyfinance group Ltd

INT

15-Dec-08

Seeka Kiwifruit Industries Ltd INT

19-Nov-08

Abano Healthcare Group Ltd

INT

19-Dec-08

Geneva Finance Ltd

INT

19-Dec-08

Smiths City Group Ltd

INT

23-Dec-08

Rubicon Ltd

SEPTEMBER Northland Port Corporation (NZ) Ltd

FIN

01-Sep-08 Savoy Equities Ltd

INT

01-Sep-08

Fisher & Paykel Healthcare Corporation Ltd

GuocoLeisure Ltd

FIN

02-Sep-08

20-Nov-08

Skellerup Holdings Ltd

FIN

04-Sep-08

Horizon Energy Distribution Ltd INT

21-Nov-08

Briscoe Group Ltd

INT

05-Sep-08

Mainfreight Ltd

INT

21-Nov-08

Wool Equities Ltd

FIN

11-Sep-08

NZF Group Ltd

INT

21-Nov-08

Broadway Industries Ltd

FIN

12-Sep-08

Ryman Healthcare Ltd

INT

21-Nov-08

ASB Capital Ltd

INT

14-Jan-09

Eastern Hi Fi Group Ltd

INT

12-Sep-08

Tower Ltd

FIN

21-Nov-08

GuocoLeisure Ltd

INT

26-Jan-09

New Zealand Wool Services International Ltd FIN

Zintel Group Ltd

INT

21-Nov-08

12-Sep-08

Comvita Ltd

INT

25-Nov-08

INT

JANUARY

FEBRUARY

Orion Minerals Group Ltd

FIN

12-Sep-08

Heritage Gold NZ Ltd

INT

26-Nov-08

Solution Dynamics Ltd

FIN

12-Sep-08

ING Property Trust

INT

26-Nov-08

AMP NZ Office Trust

INT

05-Feb-09

Southern Travel Holdings Ltd FIN

12-Sep-08

National Property Trust (The)

INT

26-Nov-08

South Port New Zealand Ltd

INT

05-Feb-09

Warehouse Group Ltd (The)

FIN

12-Sep-08

Sanford Ltd

FIN

26-Nov-08

Northland Port Corporation (NZ) Ltd

INT

Windflow Technology Ltd

FIN

12-Sep-08

AFFCO Holdings Ltd

FIN

27-Nov-08

09-Feb-09

Pumpkin Patch Ltd

FIN

17-Sep-08

Botry-Zen Ltd

INT

27-Nov-08

New Zealand Experience Ltd INT

10-Feb-09

SunSeeker Energy (Australasia) Ltd FIN 19-Sep-08

Lombard Group Ltd

INT

27-Nov-08

Fletcher Building Ltd

INT

12-Feb-09

Postie Plus Group Ltd

Mowbray Collectables Ltd

INT

27-Nov-08

Metlifecare Ltd

INT

12-Feb-09

Colonial Motor Company Ltd (The) FIN 29-Sep-08

A2 Corporation Ltd

INT

28-Nov-08

Steel & Tube Holdings Ltd

INT

12-Feb-09

Hallenstein Glasson Holdings Ltd FIN

Australian 20 Leaders Fund

INT

28-Nov-08

Tenon Ltd

INT

12-Feb-09

BLIS Technologies Ltd

INT

28-Nov-08

Livestock Improvement Corporation Ltd

FIN

25-Sep-08

29-Sep-08

OCTOBER Scott Technology Ltd

FIN

Restaurant Brands New Zealand Ltd

07-Oct-08 INT

09-Oct-08 Allied Work Force Group Ltd

INT

21-Oct-08

Celsius New Zealand Income Fund INT 28-Nov-08

13-Feb-09

NZX 10 Index Fund

INT

28-Nov-08

Telecom Corporation of New Zealand Ltd

NZX 50 Portfolio Index Fund

INT

28-Nov-08

13-Feb-09

NZX Australian MidCap Index Fund (The)

INT

INT

CDL Investments New Zealand Ltd FIN 16-Feb-09 Freightways Ltd

28-Nov-08

INT

INT

16-Feb-09

NZX MidCap Index Fund (The) INT

28-Nov-08

Millennium & Copthorne Hotels New Zealand Ltd

Pacific Edge Biotechnology Ltd INT

28-Nov-08

FIN

16-Feb-09

for all

YOUR

FINE

WINE

NEEDS

xii

Announcements Calendar - Year to 31 March 2009

Company

INT/ FIN

Date

New Zealand Refining Company Ltd (The)

FIN

17-Feb-09

Company

INT/ FIN

Date

Company

INT/ FIN

Date

Turners Auctions Ltd

FIN

23-Feb-09

Pike River Coal Ltd

INT

27-Feb-09

Contact Energy Ltd

INT

24-Feb-09

ProvencoCadmus Ltd

INT

27-Feb-09

Solution Dynamics Ltd

INT

17-Feb-09

ING Medical Properties Trust

INT

24-Feb-09

Pyne Gould Corporation Ltd

INT

27-Feb-09

TeamTalk Ltd

INT

17-Feb-09

Pumpkin Patch Ltd

INT

24-Feb-09

Renaissance Corporation Ltd FIN

27-Feb-09

Opus International Consultants Ltd FIN 18-Feb-09

Wellington Drive Technologies Ltd FIN 24-Feb-09

Rubicon Ltd

INT

27-Feb-09

Oyster Bay Marlborough Vineyards Ltd

INT

Goodman Fielder Ltd

25-Feb-09

Salvus Strategic Investments Ltd INT

27-Feb-09

New Zealand Oil and Gas Ltd INT

25-Feb-09

Savoy Equities Ltd

FIN

27-Feb-09

FIN

Port of Tauranga Ltd

INT

25-Feb-09

INT

02-Mar-09

18-Feb-09 AMP Investments’ World Index Fund

INT

19-Feb-09

Turners & Growers Ltd

FIN

25-Feb-09

Auckland International Airport Ltd INT 19-Feb-09

Air New Zealand Ltd

INT

26-Feb-09

Delegat’s Group Ltd

INT

19-Feb-09

Diligent Board Member Services INC

Michael Hill International Ltd INT

19-Feb-09

26-Feb-09

FIN

NZ Farming Systems Uruguay Ltd INT 19-Feb-09

Ebos Group Ltd

INT

26-Feb-09

Skellerup Holdings Ltd

INT

19-Feb-09

Hellaby Holdings Ltd

INT

26-Feb-09

Taylors Group Ltd

INT

19-Feb-09

Just Water International Ltd

INT

26-Feb-09

Tourism Holdings Ltd

INT

19-Feb-09

Lyttelton Port Company Ltd

INT

26-Feb-09

Vector Ltd

INT

19-Feb-09

Nuplex Industries Ltd

INT

26-Feb-09

Barramundi Ltd

INT

20-Feb-09

PGG Wrightson Ltd

INT

26-Feb-09

Cavalier Corporation Ltd

INT

20-Feb-09

Satara Co-operative Group

FIN

26-Feb-09

Marlin Global Ltd

INT

20-Feb-09

Allied Farmers Ltd

INT

27-Feb-09

New Zealand Wool Services International Ltd INT

Broadway Industries Ltd

INT

27-Feb-09

20-Feb-09

Cavotec MSL Holdings Ltd

FIN

27-Feb-09

CER Group Ltd

FIN

27-Feb-09

Genesis Research and Development Corporation

Charlie’s Group Ltd

INT

27-Feb-09

Ltd

FIN

23-Feb-09

Colonial Motor Company Ltd (The) INT 27-Feb-09

NZX Ltd

FIN

23-Feb-09

Cynotech Holdings Ltd

Property for Industry Ltd

FIN

23-Feb-09

Sky Network Television Ltd

INT

20-Feb-09

Sky City Entertainment Group Ltd INT 23-Feb-09

FIN

27-Feb-09

Guinness Peat Group PLC

FIN

27-Feb-09

New Image Group Ltd

INT

27-Feb-09

MARCH NZ Windfarms Ltd

New Zealand Wine Company Ltd (The)

INT

03-Mar-09 Plus SMS Holdings Ltd

INT

04-Mar-09

Windflow Technology Ltd

INT

04-Mar-09

Southern Travel Holdings Ltd INT

09-Mar-09

Warehouse Group Ltd (The)

INT

12-Mar-09

Wool Equities Ltd

INT

12-Mar-09

Eastern Hi Fi Group Ltd

FIN

13-Mar-09

Briscoe Group Ltd

FIN

16-Mar-09

Orion Minerals Group Ltd

INT

17-Mar-09

Postie Plus Group Ltd

INT

19-Mar-09

Glass Earth Gold Ltd

FIN

23-Mar-09

Austral Pacific Energy Ltd

FIN

26-Mar-09

Hallenstein Glasson Holdings Ltd INT 27-Mar-09

Announcements Calendar - Year to 31 March 2009

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xiv

NZX Companies - by Market Cap at 31 March 2009

Company

Mkt Cap $NZm

Price No Shs $NZ m

Telecom Corporation of New Zealand Limited 4192.7 2.28 Contact Energy Limited 3362.7 5.72 Fletcher Building Limited 3036.3 6.00 Vector Limited 2270.3 2.28 TrustPower Limited 2224.1 7.05 Auckland International Airport Limited 2094.7 1.71 The New Zealand Refining Company Limited 1680.0 7.00 Goodman Fielder Limited 1669.5 1.26 Fisher & Paykel Healthcare Corporation Limited 1610.1 509.5 Sky Network Television Limited 1583.8 4.07 Sky City Entertainment Group Limited 1370.3 2.81 The Warehouse Group Limited 1114.1 3.58 Guinness Peat Group PLC 1076.9 0.76 Air New Zealand Limited 958.7 0.90 Kiwi Income Property Trust 828.0 0.96 . . . Mandatory Convertible Notes 0.93 Infratil Limited 764.3 1.46 . . . Warrants 10/07/09 0.035 . . . Bonus Warrants 29/06/12 0.035 Ryman Healthcare Limited 705.0 1.41 Port of Tauranga Limited 690.3 5.15 Goodman Property Trust 676.3 0.80 AMP NZ Office Trust 619.3 0.90 Sanford Limited 529.0 5.65 New Zealand Oil and Gas Limited 522.3 1.36 GuocoLeisure Limited 437.8 0.32 ASB Capital Limited 419.0 . . . No.2 Perpetual Preference Shares 0.74 . . . Perpetual Preference Shares 0.80 Mainfreight Limited 408.6 4.15 Freightways Limited 380.0 2.95 ING Property Trust 312.5 0.59 PGG Wrightson Limited 301.2 1.03 Pike River Coal Limited 262.6 0.90 . . . Rights 0.15 Tower Limited 258.5 1.29 Lyttelton Port Company Limited 246.4 2.41 Property for Industry Limited 232.2 1.09 Steel & Tube Holdings Limited 229.4 2.60 Ebos Group Limited 221.6 4.60 Orion Minerals Group Limited 215.9 0.24 Delegat’s Group Limited 205.7 2.05 AMP Investments’ World Index Fund 203.8 0.96 AFFCO Holdings Limited 202.2 0.40 Cavotec MSL Holdings Limited 190.9 3.00 Metlifecare Limited 184.9 1.51 NZ Farming Systems Uruguay Limited 180.7 0.74 Pyne Gould Corporation Limited 177.5 1.80 Michael Hill International Limited 172.1 0.45 Pumpkin Patch Limited 171.3 1.03 Opus International Consultants Limited 165.4 1.20

1838.9 587.9 506.0 995.8 315.5 1225.0 240.0 1325.0 3.16 389.1 487.6 311.2 1417.0 1065.2 724.6 142.3 520.2 84.4 52.8 500.0 134.0 845.3 688.1 93.6 384.1 1368.1 350.0 200.0 98.5 128.8 529.7 292.5 282.4 56.3 200.4 102.3 213.1 88.2 48.2 899.5 100.3 212.3 505.5 63.6 122.4 244.2 98.6 382.5 166.3 137.8

Company

Mkt Cap $NZm

Price No Shs $NZ m

NZX Limited 164.9 6.70 Rubicon Limited 162.0 0.65 ING Medical Properties Trust 161.3 1.14 Briscoe Group Limited 159.1 0.75 Rakon Limited 154.8 1.21 Fisher & Paykel Appliances Holdings Limited 142.3 0.49 Hallenstein Glasson Holdings Limited 127.6 2.14 Wakefield Health Limited 125.8 8.88 Turners & Growers Limited 122.4 1.22 Cavalier Corporation Limited 116.1 1.73 Millennium & Copthorne Hotels New Zealand Limited 115.3 349.3 Abano Healthcare Group Limited 103.4 4.45 Northland Port Corporation (NZ) Limited 92.9 2.25 Wellington Drive Technologies Limited 85.7 0.19 Australian 20 Leaders Fund 80.5 2.69 Methven Limited 79.9 1.20 Skellerup Holdings Limited 79.0 0.59 Restaurant Brands New Zealand Limited 78.7 0.81 Horizon Energy Distribution Limited 77.7 3.11 New Image Group Limited 75.3 0.33 The National Property Trust 70.7 0.37 The Colonial Motor Company Limited 66.8 2.40 Nuplex Industries Limited 61.9 0.75 Kingfish Limited 60.1 0.71 South Port New Zealand Limited 56.4 2.15 Marlin Global Limited 55.8 0.53 . . . Warrants 0.026 NZX 10 Index Fund 54.2 0.75 CDL Investments New Zealand Limited 53.5 0.22 NZ Windfarms Limited 53.4 0.68 Livestock Improvement Corporation Limited 53.2 1.80 Xero Limited 49.4 0.89 NZX 50 Portfolio Index Fund 44.5 1.113 Canterbury Building Society 42.1 3.50 Tenon Limited 42.1 0.63 Tourism Holdings Limited 41.2 0.42 TeamTalk Limited 40.2 2.00 Barramundi Limited 39.5 0.39 . . . Warrants 0.001 Taylors Group Limited 36.5 1.50 The NZX Australian MidCap Index Fund 36.4 3.73 Kermadec Property Fund Limited 34.6 0.44 The NZX MidCap Index Fund 33.2 1.90 A2 Corporation Limited 32.5 0.09 Just Water International Limited 32.4 0.39 New Zealand Wool Services International Limited 29.2 69.5 Seeka Kiwifruit Industries Limited 27.8 2.21 Hellaby Holdings Limited 25.3 0.50 Comvita Limited 25.0 0.85 Charlie’s Group Limited 24.7 0.085

24.6 249.2 141.5 212.2 127.9 290.4 59.6 14.2 100.3 67.1 0.33 23.2 41.3 451.1 29.9 66.6 133.8 97.1 25.0 228.1 191.2 27.9 82.5 84.7 26.2 102.8 51.5 72.3 243.4 78.6 29.5 55.5 40.0 12.0 66.9 98.2 20.1 101.3 49.4 24.3 9.7 78.6 17.5 361.3 83.0 0.42 12.6 50.6 29.4 290.2

xvi

NZX Companies - by Market Cap at 31 March 2009

Company

Mkt Cap $NZm

ProvencoCadmus Limited 24.7 Oyster Bay Marlborough Vineyards Limited 23.9 NZF Group Limited 23.0 Windflow Technology Limited 22.8 Cynotech Holdings Limited 22.4 . . . Preference Shares . . . 2011 Warrants Kirkcaldie & Stains Limited 21.0 Scott Technology Limited 20.9 Turners Auctions Limited 20.5 Life Pharmacy Limited 19.5 . . . Partly Paid Installment Shares Allied Work Force Group Limited 19.1 Broadway Industries Limited 18.7 SunSeeker Energy (Australasia) Limited 18.3 Smiths City Group Limited 17.5 Glass Earth Gold Limited 15.2 The New Zealand Wine Company Limited 15.0 Burger Fuel Worldwide Limited 14.8 Jasons Travel Media Limited 13.9 Allied Farmers Limited 13.6 Mowbray Collectables Limited 13.6 Renaissance Corporation Limited 13.5 Postie Plus Group Limited 12.4 Satara Co-operative Group 11.8 Diligent Board Member Services INC 11.8 Pacific Edge Biotechnology Limited 11.2 Salvus Strategic Investments Limited 11.1 Pulse Utilities New Zealand Limited 8.7 Zintel Group Limited 8.6 Smartpay Limited 8.2 Sealegs Corporation Limited 7.5 New Zealand Experience Limited 7.4 BLIS Technologies Limited 7.2 Celsius New Zealand Income Fund Series 1 7.1 Dairy Equity Limited 5.9 Finzsoft Solutions Limited 5.8 Heritage Gold NZ Limited 5.8 . . . Options Geneva Finance Limited 5.6 Cooks Food Group Limited 5.5 Botry-Zen Limited 4.6 Media Technology Group Limited 3.8 CER Group Limited 3.8 . . . Options Southern Travel Holdings Limited 3.6 Connexionz Limited 3.5 Speirs Group Limited 3.5 Widespread Portfolios Limited 3.4 . . . Warrants Plus SMS Holdings Limited 3.2 Apple Fields Limited 3.2 Austral Pacific Energy Limited 3.0 Solution Dynamics Limited 2.7 Widespread Energy Limited 2.2 . . . Options Wool Equities Limited 2.2 Dorchester Pacific Limited 1.8 Investment Research Group Limited 1.7 . . . 2011 Warrants . . . 2009 Warrants Propertyfinance group Limited 1.6 Lombard Group Limited 1.4 TRS Investments Limited 1.1 Eastern Hi Fi Group Limited 1.0

Price No Shs $NZ m

Company

0.12 2.66 0.30 1.90 0.153 0.16 0.01 2.10 0.74 0.75 0.40 0.15 0.73 0.40 1.00 0.33 0.098 1.73 0.28 0.70 0.62 1.25 0.30 0.31 0.72 0.13 0.10 0.54 0.55 0.17 0.013 0.095 0.20 0.05 0.92 0.19 0.70 0.02 0.001 0.07 0.25 0.022 0.05 0.014 0.001 0.20 0.15 0.32 0.11 0.12 0.008 0.04 0.05 0.27 0.10 0.03 0.09 0.05 0.019 0.00 0.00 0.10 0.06 0.001 0.10

Genesis Research and Development Corporation Limited 0.9 26.1 Holly Springs Investments Limited 0.7 0.12 Savoy Equities Limited 0.3 0.002

205.5 9.0 76.7 12.0 121.7 21.9 28.1 10.0 28.3 27.4 37.8 29.0 26.1 46.9 18.3 53.0 154.9 8.7 53.0 19.8 21.9 10.9 44.9 40.0 16.3 90.4 111.9 20.6 15.9 50.5 629.4 79.1 37.0 143.8 7.7 31.3 8.3 287.7 35.8 80.5 22.0 207.5 76.4 265.2 65.2 17.8 23.6 10.8 21.2 8.5 404.3 80.7 60.2 9.9 16.9 16.1 23.9 36.6 89.8 27.7 8.3 16.1 23.4 1107.4 10.0

Mkt Cap $NZm

Price No Shs $NZ m 0.035 5.7 158.8

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xviii

NZX Dividends Paid - Year to 31 March 2009 Int/ Amt Imput Suppl Company Class Fin (cps) Credit Div Abano Healthcare Group Ltd ABA INT 13.000

ABA FIN 5.000

ABA INT 9.000 Air New Zealand Ltd AIR FIN 3.500

AIR INT 3.000 Allied Farmers Ltd ALF INT 2.500 Allied Work Force Group Ltd AWF FIN 3.000

AWF INT 3.500 AMP Investments’ World Index Fund WIN H/Y 29/04/08

WIN H/Y 1.491 AMP Ltd AMP FIN A24.000

AMP INT A24.000 AMP NZ Office Trust APT 3Q 1.957

APT 4Q 2.045

APT 1Q 1.839

APT 2Q 1.824 APN News & Media Ltd APN FIN A21.000

APN INT A10.500 ASB Capital Ltd ASBPA 3Q 1.667

ASBPA 4Q 1.703

ASBPA 1Q 1.741

ASBPA 2Q 1.178 ASB Capital No.2 Ltd ASBPB 3Q 1.526

ASBPB 4Q 1.546

ASBPB 1Q 1.580

ASBPB 2Q 1.580 Auckland International Airport AIA FIN 2.450

AIA INT 3.750 Australia and NZ Banking Group ANZ INT A62.000

ANZ FIN A74.000 Australian 20 Leaders Fund OZY H/Y 5.270 Barramundi Ltd BRM FIN 2.000 Briscoe Group Ltd BGR FIN 4.500

BGR INT 1.000 Canterbury Building Society CBS FIN 8.000 Cavalier Corporation Ltd CAV FIN 11.000

CAV INT 3.000

CAV INT 4.000 CDL Investments New Zealand Ltd CDI FIN 09/05/08 Celsius NZ Income Fund Series 1 CEI Q 22/07/08

CEI Q 1.950

CEI Q 2.910 Colonial Motor Company Ltd (The) CMO INT 09/04/08

CMO FIN 12.000 Contact Energy Ltd CEN FIN 17.000

CEN INT 11.000 Cynotech Holdings Ltd CYT FIN 0.500

CYT INT 0.500

CYTPA Q 0.554

CYTPA Q 0.622

CYTPA Q 0.597

CYTPA Q 0.480 Dairy Equity Ltd DEL INT 1.500 Delegat’s Group Ltd DGL FIN 6.000 Dominion Finance Holdings Ltd DFH FIN 1.000 Ebos Group Ltd EBO INT 9.500

EBO FIN 13.500 Fisher & Paykel Appliances Holdings FPA FIN

Pay Date

Int/ Amt Imput Suppl Company Class Fin (cps) Credit Div 15/07/08

FPA INT 5.000 0.667 0.275 Fisher & Paykel Healthcare Corp FPH FIN 7.000 1.500 0.618

FPH INT 5.400 2.314 0.953 Fletcher Building Ltd FBU INT 24.000 11.821 4.235

FBU FIN 24.500 11.172 4.324 Freightways Ltd FRE FIN 9.250 4.556 1.632

FRE INT 8.000 3.940 1.412 Goodman Fielder Ltd GFF INT A6.000 A0.000 A0.000

GFF FIN A7.500 A0.000 A0.000 Goodman Property Trust GMT 4Q 2.535 0.000 0.000

GMT 1Q 2.563 0.069 0.028

GMT 2Q 2.479 0.048 0.020

GMT 3Q 2.479 0.069 0.028 Guinness Peat Group PLC GPG FIN 1.000p 0.000p 0.000p GuocoLeisure Ltd GLL FIN SG2.500 SG0.000 SG0.000 Hallenstein Glasson Holdings Ltd HLG INT 17.000 8.373 3.000

HLG FIN 10.000 4.925 1.765 Hellaby Holdings Ltd HBY INT 5.000 0.000 0.000

HBY FIN 6.000 2.955 1.059 Horizon Energy Distribution Ltd HED FIN 9.000 4.433 0.000

HED INT 12.500 5.357 0.000 Infratil Ltd IFT FIN 3.750 1.847 0.662

IFT INT 2.500 1.231 0.441

IFTCB FIN 1.875 0.923 0.331 ING Medical Properties Trust IMP 3Q 2.140 0.310 0.111

IMP 4Q 2.210 0.240 0.099

IMP 1Q 2.125 0.000 0.000

IMP 2Q 2.125 0.000 0.000 ING Property Trust ING 4Q 2.187 0.363 0.149

ING 1Q 2.175 0.417 0.172

ING 2Q 1.942 0.000 0.124

ING 3Q 1.942 0.297 0.122 Jasons Travel Media Ltd JTM FIN 1.500 0.739 0.000 Just Water International Ltd JWI INT 1.600 0.788 0.282

JWI FIN 1.980 0.975 0.349 Kermadec Property Fund Ltd KPF 4Q 1.840 0.331 0.000

KPF 1Q 2.170 0.000 0.000

KPF 2Q 2.020 0.150 0.000

KPF 3Q 1.625 0.166 0.000 Kingfish Ltd KFL FIN 4.500 2.216 0.794 Kirkcaldie & Stains Ltd KRK INT 5.000 2.463 0.000

KRK FIN 3.000 1.478 0.000 Kiwi Income Property Trust KIP FIN 4.500 0.180 0.074

KIP INT 4.000 0.600 0.247

KIPGB FIN 4.000 0.000 0.000

KIPGB INT 4.000 0.000 0.000 Lion Nathan Ltd LNN INT A20.000 A0.000 A0.000

LNN FIN A22.000 A0.000 A0.000 Livestock Improvement Corp Ltd LIC FIN 22.660 11.160 0.000 Lyttelton Port Company Ltd LPC FIN 3.600 1.773 0.635

LPC INT 1.500 0.739 0.265 Mainfreight Ltd MFT FIN 10.000 4.925 1.765

MFT INT 8.500 4.187 1.500 Methven Ltd MVN FIN 6.000 2.955 1.059

MVN INT 6.250 3.078 1.103 Metlifecare Ltd MET FIN 8.000 0.000 0.000 Michael Hill International Ltd MHI INT 1.200 0.591 0.212

MHI FIN 2.000 0.985 0.353 Millennium & Copthorne Hotels NZ MCK FIN 2.500 1.231 09/05/08 Mr Chips Holdings Ltd MCH SPE 25.700 12.658 4.535

6.340 2.463 4.433 1.724 1.286 1.231 1.286 1.724 1.707

2.294 0.882 1.588 0.618 0.529 0.000 0.000 0.000 0.732

09/04/08 21/08/08 23/01/09 19/09/08 27/03/09 16/06/08 23/07/08 28/11/08 0.000

0.639 A0.000 A0.000 0.226 0.139 0.257 0.273 A0.000 A0.000 0.821 0.784 0.746 0.505 0.752 0.712 0.677 0.677 1.207 1.847 A0.000 A0.000 0.220 0.811 2.216 0.492 3.940 5.418 1.478 1.970 2.300

0.000 A0.000 A0.000 0.081 0.050 0.106 0.112 A0.000 A0.000 0.294 0.301 0.307 0.208 0.269 0.273 0.279 0.279 0.432 0.662 A0.000 A0.000 0.080 0.055 0.794 0.176 1.412 1.941 0.529 0.706 1.133

28/10/08 04/04/08 17/10/08 08/05/08 09/09/08 13/11/08 27/02/09 24/04/08 02/10/08 15/05/08 15/08/08 17/11/08 16/02/09 15/05/08 15/08/08 17/11/08 16/02/09 24/10/08 27/03/09 01/07/08 18/12/08 20/06/08 19/09/08 02/05/08 03/10/08 25/07/08 03/10/08 05/12/08 13/03/09 0.406

2.510 0.000

0.000

0.000 0.000 06/11/08 0.000 0.000 26/02/09 11.000 5.418 1.941 5.910 8.373 5.418 0.000 0.000 0.000 0.000 0.000 0.000 0.739 2.955 0.492 4.679 6.649 9.000

2.118 3.000 1.941 0.000 0.000 0.000 0.000 0.000 0.000 0.000 1.059 0.000 1.676 2.382 1.200

03/11/08 23/09/08 31/03/09 11/04/08 13/08/08 03/06/08 02/09/08 28/11/08 02/03/09 30/04/08 24/10/08 13/06/08 09/05/08 10/10/08 0.494

Pay Date 19/12/08 27/06/08 12/12/08 10/04/08 16/10/08 30/09/08 31/03/09 03/04/08 30/10/08 12/06/08 18/09/08 18/12/08 26/03/09 19/05/08 18/11/08 18/04/08 12/12/08 18/04/08 31/10/08 27/06/08 17/12/08 16/06/08 15/12/08 16/06/08 03/06/08 08/09/08 08/12/08 10/03/09 18/06/08 26/09/08 18/12/08 20/03/09 01/08/08 18/04/08 10/10/08 21/05/08 21/08/08 14/11/08 13/02/09 20/06/08 30/05/08 15/12/08 16/06/08 15/12/08 30/06/08 31/12/08 24/06/08 15/01/09 29/08/08 12/11/08 27/03/09 25/07/08 12/12/08 27/06/08 31/12/08 19/09/08 01/04/08 13/10/08 0.441 23/09/08

    

       

      

    