Former Contact Energy chief executive Steve Barrett has been appointed chair of Meridian's United States-based subsidiary company, Meridian Energy USA. Udhay Mathialagan, Brookfield Managing Director and Global CEO of Data Centres, and outgoing chair of One NZ, said, "During our ownership of One NZ, we have overseen the investment of more than a billion dollars to expand and strengthen New Zealand’s digital infrastructure. One NZ CEO Jason Paris said, "Infratil’s increased investment in One New Zealand is a huge vote of confidence in the direction and momentum within our business and means this important New Zealand company will be 100 percent locally owned and managed for the first time. Infratil CEO Jason Boyes said, "Further investment in One NZ is strategically and financially compelling for Infratil and our shareholders. Post equity raise and completion of the One NZ transaction, Infratil’s wholly owned group gearing is expected to be 18.7% with NZ$927.7 million of available liquidity.

One NZ has been transformed since Infratil’s initial acquisition in 2019 and today holds a strong market position in mobile and is delivering growth across multiple segments. Infratil intends to conduct a non-underwritten Retail Offer to eligible existing shareholders to raise up to NZ$100 million, with the ability to scale applications or accept over subscriptions at Infratil’s discretion. One NZ is one of New Zealand’s largest fixed infrastructure owners with over 11,000km of fibre and cable, extensive spectrum holdings and long-term access to over 1,500 mobile towers. Answer: This is a limitation of the chip unable to handle recorded video files large than 1GB, hence a new video file is automatically generated every hour, i.e. your recorded video will span several files if you are recording over 1hr. You can use software to merge them together after recording though, if you don't like them being broken into several files. Answer: YES. You can setup a timed recording. We have been able to raise enough cash, our winning of webby awards last year and this year show we can write world class software, the near 1000 accounting partners show traction in the industry as well as customer and revenue growth.

Also it takes a while to get traction which we now have. Reader Question - I have a concern about focus at Xero at the moment. To those outside the software business or indeed the company, Xero seems like a hard business to understand. RD - Actually the SaaS accounting software isn’t that competitive. David Ross, the Ponzi-accused former manager of Ross Asset Management, appeared in the District Court in Wellington this morning for substantive hearings on eight Crimes and Financial Advisers Act charges. At least, that’s what you might think if you took a quick glance at the business headlines this morning. Doing quick release cycles reinforces a culture of innovation and execution but it is something we think about a lot. It’s also obvious that a lot of risk has been taken out of the business. Personally, it’s been a privilege to lead the board through a period of significant change that involved the rebrand to One NZ, the carve-out of the tower assets and navigating through the pandemic. Determination of eligibility of investors for the purposes of the Retail Offer is determined by reference to a number of matters, including legal regimes and the discretion of the Lead Managers and the Company.

Barrenjoey Markets Pty Limited (acting jointly with Forsyth Barr Limited) and UBS New Zealand Limited are Joint Lead Managers. One NZ is a leading New Zealand digital services and connectivity company with 2.7 million connections and population coverage of more than 98% of New Zealand. While we continue to see further long-term value in One NZ, we were attracted to realising a strong return now. It is much harder now to raise money. The Placement will comprise the issue of 81.5 million new shares, representing approximately 11.2% of existing issued capital, to raise NZ$750 million. "The equity raise is a $750 million underwritten placement, which happens today, and then a $100 million retail offer that runs until 27 June and is not underwritten. "The Pacifecon system allows us to easily and efficiently identify what is happening in the market place. Securities Act. Although IFT believes these non-IFRS financial measures provide useful information to investors in measuring the financial performance and condition of its business, investors are cautioned not to place undue reliance on any non-IFRS financial information/non-GAAP financial measures included in this announcement. The historical information in this announcement is, or is based upon, information that has been released to NZX Limited ("NZX") and/or ASX Limited ("ASX").

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