NZX Annual Listing Fee Timing Change

NZX has received some enquiries regarding the revised introduction of the new annual listing fees to Listed Issuers.

Following consultation with Listed Issuers, the new fees will now be phased in over the latter half of 2006 and in 2007. The change in the phasing in of the new fees is not required to be advised to the market under the Listing Rules because it does not have a material impact.

However, for clarity, the phase-in will result in approximately $400,000 less revenue growth in 2006 than would have been expected without a phase-in. There will be no material impact on long-run revenues in this area.

Advice has been provided directly to Listed Issuers about the new timetable.