NZX CEO Stock Purchase – Correction To New Zealand Herald Story

New Zealand Exchange Limited (NZX) chief executive Mark Weldon executed a private purchase of NZX shares which resulted in his total holding reaching 5.2 per cent yesterday.

A story which appeared in the New Zealand Herald today regarding this issue incorrectly insinuates the rise in his holding resulted from a “cashing in” of shares. The trigger event was, in fact, the unrelated and private on-market cash acquisition of NZX shares by Mr Weldon. The implication that he is selling NZX shares is also incorrect.

The purchase of NZX shares by Mr Weldon was approved by the NZX Share Trading Committee in accordance with the requirements of NZX's internal share trading policy and the Securities Markets Act.