GENERAL: HED: SPECIAL ORDER FACILITY ("SOF") - HORIZON ENERGY

30 Jun 2010 8:52 am

HED 30/06/2010 GENERAL

REL: 0852 HRS Horizon Energy Distribution Limited

GENERAL: HED: SPECIAL ORDER FACILITY ("SOF") - HORIZON ENERGY

URGENT COMMUNICATION

Memorandum

To : NZX Market Participants & NZX Data Distributors From : NZX Client & Market Services Date : 30 June 2010 Subject : Special Order Facility - HEDY

Message:

SPECIAL ORDER FACILITY ("SOF") - HORIZON ENERGY DISTRIBUTION LIMITED

First NZ Capital Securities Limited has received instructions to acquire up to 1,249,570 shares in Horizon Energy Distribution Limited at a price of $4.06 on behalf of their client, Marlborough Lines Limited.

At the request of First NZ Capital Securities Limited, NZX have established a SOF in the market, pursuant to NZX Participant Rule 10.7.4(r).

The SOF will commence at 10.00am under the temporary trayport code HEDY; the settlement code will also be HEDY. Pre-Open will commence at 9.00.

The following conditions apply to this bid:

The SOF will commence at 10.00am on Wednesday, 30 June 2010 and will remain open until the earlier of:

i) completion or discontinuance of the instruction; or ii) 5:00pm Friday, 16 July 2010

If, after 16 June 2010 but within the next six months commencing on Saturday 12 June 2010, Marlborough Lines Limited purchases Horizon Energy shares for more than $4.06, any successful shareholder accepting into the Offer will be paid the amount, if any, by which the purchase price exceeds $4.06 per share. Further, if any shares acquired by Marlborough Lines Limited under the Offer are sold after 16 June 2010 but within the next six months commencing on Saturday 12 June 2010 for more than $4.06, the seller will be paid the amount, if any, by which the sale price exceeds $4.06 per share.

Notes:

Short selling shall be governed by the standard rules relating to that issue in force from time to time. These rules are currently at A10.14 of the Participant Rules.

A copy of the statement released by First NZ Capital Securities is attached for your information.

Please do not hesitate to contact NZX Client and Market Services on (04) 496 2853 or cms@nzx.com if you have any queries.

ENDS End CA:00196698 For:HED Type:GENERAL Time:2010-06-30:08:52:31

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