MARKET ANNOUNCEMENT
Proposed Demerger of NZME
Summary
• Proposed Demerger of NZME to APN shareholders (Demerger)
• NZME to be listed on NZX (primary listing) and ASX (foreign exempt listing)
• Enables APN to focus on its Australian growth media assets of radio and outdoor
• NZME will be a leading integrated media and entertainment business in New Zealand
• Independent Board and management team for each business – Sir John Anderson appointed Chairman of NZME
• Eligible APN shareholders will receive one share in NZME for each existing APN share
• Prudent and sustainable capital structure for APN (post Demerger and Entitlement Offer) and NZME
• APN to also undertake a 1 for 7 share consolidation (Share Consolidation)
• Shareholder meeting to approve the Demerger and Share Consolidation to be held on 16 June 2016
• APN directors consider that the Demerger is in the best interests of APN shareholders and recommend that shareholders
vote in favour of the Demerger
• Independent expert has concluded that the Demerger is in the best interests of APN shareholders
• APN to raise approximately $180 million through a fully underwritten 1 for 3 accelerated renounceable entitlement
offer with retail entitlements trading (Entitlement Offer) (see separate ASX & NZX release lodged today)
• APN and Fairfax Media Limited (Fairfax) separately announced entry into exclusive discussions regarding the potential merger of their respective New Zealand
businesses (see separate joint ASX & NZX release lodged today)