NZX Announcement from Blue Star Group Holdings Limited

14 August 2012

New Zealand Stock Exchange Announcement from Blue Star Group Holdings Limited (BLUFC)

MARKET UPDATE

Blue Star advises that NZX plans to de-list the Capital and Participating Bonds issued by Blue Star, from 5pm on 28 August. The de-listing follows an application by Blue Star which sought to protect the integrity of its current sale process by deferring the preliminary announcement of its consolidated 30 June results and annual report. De-listing removes the NZX reporting requirement.

After 28 August the bonds may still be traded privately and Blue Star remains under the regulatory oversight of Perpetual Trust Limited, the Trustee for the bonds, the FMA and the Registrar of Companies.

Blue Star will continue to report periodically to bondholders and the Trustee under applicable laws and the terms of the Capital Bonds Trust Deed, with the next report under the Moratorium Regulations due to be sent to bondholders on or before 31 August.

De-listing the bonds has no adverse effect on Blue Star’s operating businesses which continue to trade profitably.

The listed bonds are now trading effectively at a nominal value, infrequently and on very low volumes. The Board now considers it unlikely that any value will attach to the Group’s NZDX listed bonds.

Blue Star also advises that CHAMP funds have fulfilled their commitment to transfer their shareholder subordinated funding totalling NZ$14.8 million into fully paid ordinary shares of Blue Star Group Holdings Limited, following completion of the various processes necessary to undertake this conversion.

ENDS

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