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  1. ACC spends $17,714,069.82 in the Share Market

    16 April 2020 - 10:14 PM

    Take a look at the ACC investment is carrying on despite they are in lock down. They are working from home.

    ACC Share Buy

    Disclosure of movement of 1% or more in substantial holding or change in
    nature of relevant interest or both
    Sections 277 and 278, Financial Markets Conduct Act 2013
    To New Zealand Stock Exchange
    and
    To Kiwi Property Group Ltd
    Relevant event being disclosed: Movement of 1% or more
    Date of relevant event: 9 April 2020
    Date this disclosure made: 14 April 2020
    Date last disclosure made: 25 March 2020
    Substantial product holder(s) giving disclosure
    Full Name(s): Accident Compensation Corporation (ACC)
    Summary of substantial holding
    Class of quoted voting products: Ordinary shares (KPG NZ)
    Summary for: Accident Compensation Corporation (ACC)
    For this disclosure,—
    (a) Total number held in class: 164,165,904
    (b) Total in class: 1,569,087,532
    © Total percentage held in class: 10.463%
    For last disclosure,—
    (a) Total number held in class: 144,453,517
    (b) Total in class: 1,569,087,532
    © Total percentage held in class: 9.206%
    Details of transactions and events giving rise to relevant event
    Details of the transactions or other events requiring disclosure:
    From 25 March 2020 to 9 April 2020, ACC had the following aggregated on-market transactions
    in Kiwi Property Group Ltd:
    • Purchases of 19,712,387 shares for consideration of NZD $17,714,069.82
    Details after relevant event
    Details for ACC
    Nature of relevant interest(s):
    Beneficial owner of securities under §235(1)(b) of the Financial Markets Conduct Act
    No relevant agreement document needs to be attached under regulation 139.
    For that relevant interest,—
    (a) Number held in class: 164,165,904
    (b) Percentage held in class: 10.463%
    © Current registered holder(s): ACC via New Zealand Central Securities Depository Limited
    (NZCSD)
    (d) Registered holder(s) once transfers are registered: unknown
    For a derivative relevant interest, also—
    (a) type of derivative: n/a
    (b) details of derivative: n/a
    © parties to the derivative: n/a
    (d) if the substantial product holder is not a party to the derivative, the nature of the relevant
    interest in the derivative: n/a
    Additional information
    Address of substantial product holder(s):
    ACC: Justice Centre, 19 Aitken Street, PO Box 242, Wellington, NZ
    Contact details: Matthew Cunliffe +64 4 816 5743 [email protected]
    In accordance with the Financial Markets Authority’s Guidance Note: Guidance on Substantial
    Product Holder Disclosures issued on 27 September 2017, ACC has not made disclosures for
    employees who manage the financial products of which ACC is the beneficial owner.
    Name of any other person believed to have given, or believed to be required to give, a
    disclosure under the Financial Markets Conduct Act 2013 in relation to the financial products to
    which this disclosure relates: n/a
    Certification
    I, Matthew Cunliffe, certify that, to the best of my knowledge and belief, the information
    contained in this disclosure is correct and that I am duly authorised to make this disclosure by
    all persons for whom it is made.

    But wait a minute the company just secured bank loan at a time when the money or investment do not have a good return.

    NZX RELEASE
    27 March 2020
    Kiwi Property concludes bank debt extensions
    Kiwi Property has successfully refinanced $147 million of bank debt facilities with HSBC and
    CBA. The facilities were previously due to expire in the 2021 and 2022 financial years and
    have been extended on three and five-year terms.
    On Monday, the company announced it had also extended $214 million of facilities with
    ANZ, BNZ and Westpac. Kiwi Property now has no bank debt maturities until the 2023
    financial year. The weighted average term of all debt facilities now sits at 3.9 years. The
    company has $303 million in undrawn credit lines and a current gearing ratio of 29.2%, well
    within its target range of 25%-35%.
    > Ends
    Contact us for further information
    Campbell Hodgetts
    Communications & Investor
    Relations Lead
    [email protected]
    0275634985
    About us
    Kiwi Property (NZX: KPG) is the largest listed property company on the New Zealand Stock
    Exchange and is a member of the S&P/NZX 20 Index. We’ve been around for over 25 years
    and we proudly own and manage a $3.3 billion portfolio of real estate, comprising some of
    New Zealand’s best mixed-use, retail and office buildings. Our objective is to provide investors
    with a reliable investment in New Zealand property through the ownership and active
    management of a diversified, high-quality portfolio. S&P Global Ratings has assigned Kiwi
    Property a corporate credit rating of BBB (stable) and an issue credit rating of BBB+ for each of
    its fixed rate senior secured bonds. Kiwi Property is the highest rated New Zealand company
    within CDP (Carbon Disclosure Project) and is a member of FTSE4 Good, a series of
    benchmarks and tradeable indices for ESG (Environmental, Social and Governance) investors.
    Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our
    website kp.co.nz

    And don't forget this share buy last month.

    Disclosure of movement of 1% or more in substantial holding or change in
    nature of relevant interest or both
    Sections 277 and 278, Financial Markets Conduct Act 2013
    To New Zealand Stock Exchange
    and
    To Kiwi Property Group Ltd
    Relevant event being disclosed: Movement of 1% or more
    Date of relevant event: 24 March 2020
    Date this disclosure made: 25 March 2020
    Date last disclosure made: 29 April 2016
    Substantial product holder(s) giving disclosure
    Full Name(s): Accident Compensation Corporation (ACC)
    Summary of substantial holding
    Class of quoted voting products: Ordinary shares (KPG NZ)
    Summary for: Accident Compensation Corporation (ACC)
    For this disclosure,—
    (a) Total number held in class: 144,453,517
    (b) Total in class: 1,569,087,532
    © Total percentage held in class: 9.206%
    For last disclosure,—
    (a) Total number held in class: 104,473,105
    (b) Total in class: 1,276,470,920
    © Total percentage held in class: 8.185%
    Details of transactions and events giving rise to relevant event
    Details of the transactions or other events requiring disclosure:
    From 29 April 2016 to 24 March 2020, ACC had the following aggregated on-market
    transactions in Kiwi Property Group Ltd:
    • Purchases of 75,668,946 shares for consideration of NZD $107,107,485.80
    • Sales of 42,910,489 shares for consideration of NZD $61,432,845.17
    • Allotment of 7,221,955 shares received under the Dividend Reinvestment Plan
    Details after relevant event
    Details for ACC
    Nature of relevant interest(s):
    Beneficial owner of securities under §235(1)(b) of the Financial Markets Conduct Act
    No relevant agreement document needs to be attached under regulation 139.
    For that relevant interest,—
    (a) Number held in class: 144,453,517
    (b) Percentage held in class: 9.206%
    © Current registered holder(s): ACC via New Zealand Central Securities Depository Limited
    (NZCSD)
    (d) Registered holder(s) once transfers are registered: unknown
    For a derivative relevant interest, also—
    (a) type of derivative: n/a
    (b) details of derivative: n/a
    © parties to the derivative: n/a
    (d) if the substantial product holder is not a party to the derivative, the nature of the relevant
    interest in the derivative: n/a
    Additional information
    Address of substantial product holder(s):
    ACC: Justice Centre, 19 Aitken Street, PO Box 242, Wellington, NZ
    Contact details: Matthew Cunliffe +64 4 816 5743 [email protected]
    In accordance with the Financial Markets Authority’s Guidance Note: Guidance on Substantial
    Product Holder Disclosures issued on 27 September 2017, ACC has not made disclosures for
    employees who manage the financial products of which ACC is the beneficial owner.
    Name of any other person believed to have given, or believed to be required to give, a
    disclosure under the Financial Markets Conduct Act 2013 in relation to the financial products to
    which this disclosure relates: n/a
    Certification
    I, Matthew Cunliffe, certify that, to the best of my knowledge and belief, the information
    contained in this disclosure is correct and that I am duly authorised to make this disclosure by
    all persons for whom it is made.

    Question is did ACC buy shares to artificially increase the share price.