ATM - A2 Milk Corporation Limited

[MAC]

I see they have a couple of patents due to expire over the next couple of years. I know very little about patents, does anyone know if these can be renewed?

Milfords buy in at these price levels is a fairly good endorsement of the company IMHO.

NBT

Hi NextBigThing,

When it comes to the patent dates, ATM quote the earliest expiry date for each and qualifies with an explanatory note – “Earliest expiry date indicated. The actual date will vary between territories”.

A couple of the early NZ patents may have a couple of years to run, the offshore territory patents probably much longer. Plenty of time to comfortably entrench the brand internationally.

http://aboutthea2milkcompany.com/wp-...eview-2012.pdf

many regards, Mac

[MAC]

I’m not a patent lawyer and thus am not qualified to offer an opinion.

Although, either you could be right, or Simpson Grierson could be right, time will tell.

The IP has been subjected to an independent legal review which concluded that the portfolio is strong and well balanced to deliver commercial value in both the short and long term:

“A2C’s intellectual property is balanced across a variety of rights, with strength throughout the supply chain. Chain of title and rights are well documented, allowing a solid basis for exploitation and enforcement” - Simpson Grierson

http://aboutthea2milkcompany.com/wp-...eview-2012.pdf

[airedale]

Decent volume of 11+million shares traded today without depressing the price {any further}. Maybe the bottom is in or Milford are still buying.

And so it came to pass: today's ann: Milford have increased their holding again from 12.1% to 13.75%.

[dingoNZ]

And so it came to pass: today's ann: Milford have increased their holding again from 12.1% to 13.75%.

Its basically the only announcement for ATM, Milford is always increasing their holding.

[MAC]

And so it came to pass: today's ann: Milford have increased their holding again from 12.1% to 13.75%.

At this rate they may catch Freedom Foods as the largest holder on 17.7%.

From my abacus, they have just picked up 2.78% since 2nd April with an 81c spread, not bad and with prospectively positive announcements on the immediate horizon to cement it all too.

[nextbigthing]

Does anyone know how Milford operate, in that will they generally try and do all their buying in a short period and release a SSH notice once they've finished, or is it more of an ongoing thing?

What I'm trying to work out is are they still going to be buying or whether that might be it for a bit?

[dingoNZ]

Does anyone know how Milford operate, in that will they generally try and do all their buying in a short period and release a SSH notice once they've finished, or is it more of an ongoing thing?

What I'm trying to work out is are they still going to be buying or whether that might be it for a bit?

AFAIK its ongoing, Milford don't purchase the entire quantity they want in one go, they generally seem to purchase a small (well large in the scheme of thing) of X shares and then assume to pick up more in the troughs as they present themselves.

[winner69]

Does anyone know how Milford operate, in that will they generally try and do all their buying in a short period and release a SSH notice once they've finished, or is it more of an ongoing thing?

What I'm trying to work out is are they still going to be buying or whether that might be it for a bit?

Take a closer look at the SSH notice .....each tranasction is generally listed

Been buying most days for a while by the looks of it

[nextbigthing]

So from the following SSH notice, you're saying they bought approx 10 mil shares in one day, as opposed to buying up over a week etc

ATM

16/06/2014 15:07

SSH

REL: 1507 HRS The a2 Milk Company Limited

SSH: ATM: SSH - Milford Asset Management Limited

Disclosure of movement of 1% or more in substantial holding or change in

nature of relevant interest or both

Section 23 and 24, Securities Markets Act 1988

Relevant event being disclosed: Change in nature of relevant interest

Date of relevant event: 13th June 2014

To: The New Zealand Stock Exchange

And: A2 Corporation Limited

Date this disclosure made: 16th June 2014

Date last disclosure made: 5th June 2014

Substantial security holder(s) giving disclosure

Name(s): Milford Asset Management Limited

Contact details: Mark Ryland, Risk and Compliance Manager, contact:

(09) 921 4746

E-mail: mryland@milfordasset.com

Summary of substantial holding to which disclosure relates

Class of listed voting securities: Ordinary Share

Summary for: Milford Asset Management Limited

For this disclosure, --

(a) total number held in class: 90,750,981

(b) total in class: 660,066,979

(c) total percentage held in class: 13.75% (note, relevant interests held by

the manager as follows):

Milford Active Growth Wholesale Fund (3.32%), (Custodian - TEA Custodians),

Milford Dynamic Wholesale Fund (2.44%), (Custodian - TEA Custodians),

NZ Equities Wholesale Fund (3.23%), (Custodian - TEA Custodians),

Trust Investments Sustainable NZ Share Fund (0.37%), (Custodian - TEA

Custodians),

Waikato Community Trust (0.26%), (Custodian - TEA Custodians),

New Zealand Superannuation Fund (2.95%), (Custodian - New Zealand

Superannuation Fund Nominees Limited)

Mercer Trans-Tasman Shares Trust (1.18%), (Custodian - BNP Paribas Securities

Limited).

For the last disclosure,--

(a) total number held in class: 80,417,812

(b) total in class: 660,066,979

(c) total percentage held in class: 12.18% (note, relevant interests held by

the manager as follows):

Milford Active Growth Wholesale Fund (3.32%), (Custodian - TEA Custodians),

Milford Dynamic Wholesale Fund (2.28%), (Custodian - TEA Custodians),

NZ Equities Wholesale Fund (2.68%), (Custodian - TEA Custodians),

Trust Investments Sustainable NZ Share Fund (0.31%), (Custodian - TEA

Custodians),

Waikato Community Trust (0.21%), (Custodian - TEA Custodians),

New Zealand Superannuation Fund (2.41%), (Custodian - New Zealand

Superannuation Fund Nominees Limited)

Mercer Trans-Tasman Shares Trust (0.97%), (Custodian - BNP Paribas Securities

Limited).

Details of transactions and events giving rise to relevant event

Details of the transactions or other events requiring disclosure under the

instructions to this form: Milford Asset Management Limited undertook the

below on market transactions:

[please see attachment for details of transaction]

Additional information

Nature of connection between substantial security holders: NA

Address(es) of substantial security holder(s): Milford Asset Management

Limited, Level 17, 41 Shortland Street, Auckland 1140, New Zealand.

Name of any other person believed to have given, or believed to be required

to give, a disclosure under the Act in relation to the securities to which

this disclosure relates: NA

Declaration

I, Mark Ryland declare that, to the best of my knowledge and belief, the

information contained in this disclosure is correct and that I am duly

authorised to make this disclosure by all persons for whom it is made.

End CA:00251631 For:ATM Type:SSH Time:2014-06-16 15:07:50

[dingoNZ]

4 SSH changes since February, see the attachment. They are progressively purchasing.