Announcement

DISCPLIN: DISP: Public Censure of Cooks Global Foods 09:28a.m. 
DISP  
18/02/2020 09:28  
DISCPLIN  
NOT PRICE SENSITIVE  
REL: 0928 HRS NZ Markets Disciplinary Tribunal  
 
DISCPLIN: DISP: Public Censure of Cooks Global Foods  
 
18 February 2020  
 
ANNOUNCEMENT OF NZ MARKETS DISCIPLINARY TRIBUNAL  
PUBLIC CENSURE OF COOKS GLOBAL FOODS LIMITED FOR BREACH OF NZX LISTING RULE  
3.6.1  
 
In a determination of the NZ Markets Disciplinary Tribunal (the Tribunal)  
dated 4 February 2020, the Tribunal found that Cooks Global Foods Limited  
(CGF) breached NZX Listing Rule 3.6.1 by filing its 2019 Annual Report 5  
business days late.  
 
The Tribunal noted that a breach of the periodic reporting requirements is a  
breach of a fundamental obligation under the Rules. Compliance by Issuers  
with the periodic reporting requirements is essential in maintaining market  
integrity and investor confidence.  
 
While the Tribunal acknowledged that the unforeseen resignation of its CFO  
impacted on CGF's ability to meet its obligations during the audit process,  
it noted that CGF needed to ensure that it had sufficient resources available  
to release its annual report on time. The Tribunal also noted that CGF has  
breached the periodic reporting requirements on two previous occasions.  
 
However, the Tribunal considered that there were mitigating factors,  
including that no impact on the market or CGF's investors appears to have  
resulted from the breach (as trading in CGF's securities was not suspended  
and CGF notified the market of any adjustments likely to be made to its  
preliminary results in its announcements on 1 and 7 August 2019), that CGF  
had sought to reduce the delay by contracting additional personnel and has  
taken measures to ensure future compliance.  
 
The Tribunal ordered that CGF pay a financial penalty of $35,000, pay the  
costs of NZX and the Tribunal, and be publicly censured.  
 
The full decision of the Tribunal is attached to this release.  
End CA:00348583 For:DISP Type:DISCPLIN Time:2020-02-18 09:28:34  

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