In accordance with section 45 of the Takeovers Act 1993, on 21 September 2022, the Takeovers Panel approved the granting of the exemptions contained in the Takeovers Code (Fronde Systems Group Limited) Exemption Notice 2022.

Clause 5 applies to acts or omissions occurring on or after 9 September 2022.

The exemptions and the reasons for granting it may be viewed at:

https://www.takeovers.govt.nz/assets/Exemptions/Takeovers-Code-Fronde-Systems-Group-Limited-Exemption-Notice-2022.pdf.

Dated at Auckland this 29th day of September 2022.