Westpac reduces stake in Precinct Properties below substantial threshold

Westpac Banking Corporation, along with its related bodies corporate, disclosed a cessation of its substantial holding in Precinct Properties New Zealand LTD, effective December 15, 2025. This follows a previous disclosure on October 17, 2025, when Westpac held 5.01% of the total voting products. The current holding now stands at 4.98%, with a total of 92,329,131 shares, down from 92,836,302 shares.

The reduction in stake primarily resulted from a series of on-market sales between October 17, 2025, and December 15, 2025. Specifically, Westpac Wholesale Property Trust sold 732,226 shares for a consideration of $893,120.94, while purchasing 768,506 shares for $936,440.78. Westpac WHS Australasian Share No.1 recorded on-market sales, and Westpac WHS Australasian Share No.2 sold 1,215,110 shares for $1,448,166.51.

Additionally, Westpac WHS Australasian Share No.3 sold 1,368,922 shares for $1,688,229.91. These transactions reflect an adjustment by Westpac's various managed trusts, leading to their collective stake falling below the 5% substantial holding threshold.