ACC's stake in Heartland Group drops below substantial holding threshold

Accident Compensation Corporation (ACC) has disclosed that it ceased to be a substantial product holder in Heartland Group Holdings Ltd as of December 2, 2025. The disclosure, made on December 3, 2025, follows its last disclosure on February 13, 2025. ACC's holding in Ordinary shares decreased from a previous 5.026% to 4.994%.

The change in ACC's holding resulted from aggregated on-market transactions between February 13, 2025, and December 2, 2025. During this period, ACC sold 9,923,617 shares for NZD $9,669,328.78 and purchased 9,874,182 shares for NZD $8,063,522.27. As a result, the total number of shares held by ACC in Heartland Group Holdings Ltd decreased from 47,119,131 to 47,069,696. The total shares in class concurrently increased from 937,419,279 to 942,543,367.

ACC's address is Justice Centre, 19 Aitken Street, PO Box 242, Wellington 6140. Matthew Cunliffe, who certified the disclosure, can be contacted at +64 4 816 5743 or investmentscompliance@acc.co.nz. ACC noted that it has not made disclosures for employees managing financial products where ACC is the beneficial owner, in accordance with the Financial Markets Authority's Guidance Note issued on September 27, 2017.