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Encouraging Shareholders to Act as Business Owners and the Ethical Behaviour of Boards

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AIR $1.34 AMP $8.00 AIA $1.93 CEN $6.09 FPA $0.64 FPH $3.31 FBU $8.13 GFF $2.02 GPG $0.92 IFT $1.65 NPX $3.33 NZR $3.40 PGW $0.60 POT $6.95 RYM $2.04 SKC $3.25 SKT $5.05 TLS $3.89 TPW $7.15 VCT $2.06 AMP $6.16 ANZ $23.94 BHP $43.24 BXB $7.53 CBA $55.69 CSL $35.76 FGL $5.45 MQG $49.05 NAB $26.80 QBE $21.41 RIO $75.35 SUN $8.55 TLS $2.99 WES $32.23 WDC $12.07 WBC $27.33 WPL $45.49 Wednesday, 10 March 2010 19:00 Powered by Infoscan. www.infoscan.co.nz

NZSA Best Practice

For the benefit of listed companies and investors, the NZ Shareholders Association publishes the following as a Guide to our Policy on particular issues.

Challenging the Agenda
Chief Executive Pay
Company Reports and Topics for Annual General Meetings
Directors’ Retirement Allowances
Free Lunches (Share Options)
Independence of auditors
Modern Capitalism and an Ownership Vacuum
Peer Review Overview
Proxies
Securities Market Act
Share Options for Management
Shareholders' Rights
Standard Shareholders Resolutions
Submission on Share Options
The Company And Its Directors
The Takeover Code