NZX is pleased to announce that leading global financial information services company, Markit, will pay NZX US$21.4 million, by 31 January 2012, to bring to completion the performance of each party's obligations in respect of the 2009 sale by NZX of the TZ1 environmental registry to Markit.
Under the June 2009 purchase agreement between Markit and NZX, Markit had the option to acquire the consideration shares issued to TZ1 based on the environmental registry's performance.
Markit has chosen to exercise this option and pay NZX in cash for its shareholding in Markit.
"Markit is a world class organisation, and one with which we have been proud to be associated.
NZX has enjoyed an excellent working relationship with Markit since 2009, and the fact that final payment is to be made in front of what was expected reflects the strength of that relationship," said NZX CEO Mark Weldon.
The full details of the TZ1 transaction have previously been disclosed in NZX's Annual Financial Statements.
NZX reports its 2011 full year financial performance on Monday 20 February 2012. NZX expects, on the basis of the above, to also be in a position to make a statement regarding dividends, capital policy and return of cash to shareholders on that date.