Ann: Response to ASX Query , page-2

It is interesting that the ASX only have listing rule 3.1 under which to query the significance of this transaction - perhaps they should consider now reviewing the transaction under listing rule 11 (Significant Transactions), although there aren't too many indications from the guidance rules that they would use it to force a shareholder vote. But there is room for ASX discretion I think?

Interestingly, it would definitely qualify as a "Major Transaction" (requiring ordinary resolution of shareholders) under NZX listing rules, since the gross value of the transaction is well in excess of 50% of the average market capitalisation.

I also think they need to confirm that this was not a related party transaction, since a director of Nexbis (Anthony Dunlop) was also (at least formerly) a director of CITP Holdings. It is no longer possible to look up directors on the Hong Kong companies office web-site without paying a substantial fee per query.