© 2018 Livestock Improvement Corporation
Limited (“LIC”). LIC is the owner of all Intellectual Property Rights connected
with the brand names Premier Sires®, SGL Dairy®, KiwiCross®, MINDA®, EZ Heat®,
GeneMark®, Farmwise®, DataMate®, SPACE™, Alpha™, MINDA Pro™, Protrack™ and
Protrack EZ Heat™ and the products SGL, Forward Pack, AB Technician, Sire
Proving Scheme, Herd Testing, LIC Heat Patch, Heat Patch Plus, 6 Week Challenge
and the associated visual identity and trade dress. Intellectual property in
the brand names Saber™, CellSense®, YieldSense®, Beacon® and the associated
visual identity and trade dress are owned by LIC Automation Limited and Beacon
Automation Pty Limited respectively.
Summary of significant changes to LIC
Conditions and Service Rules for 2018-2019, following share simplification:
Part A has been amended to reflect the
change in LIC’s Share Standard which came into effect in July 2018.
Part A, clause 10: sets out the process
by which LIC customers will become Ordinary Shareholders.
Part A, clause 11: LIC may acquire
Ordinary Shares on behalf of the customer (either by buying them on market or
by issuing them to the customer) if the customer fails to meet their
Shareholding Requirement by the Compliance Date.
Part A, clause 12: LIC may dispose of a
customer’s Ordinary Shares in accordance with LIC’s Constitution.
Part A, clause 13: Provides definitions
specific to LIC’s revised Share Standard, including definitions of the Minimum
Purchases Amount, Qualifying Expenditure, Qualifying Products and Services and
the Shareholding Requirement.
Part A, clause 15: Describes how
dividends received on all nil paid Ordinary Shares any certain Ordinary Shares
shall be used to pay up any nil paid Ordinary Shares.
Part B, clause 78(b): LIC is not
authorised to provide financial advice relating to Ordinary Shares.
For a complete copy of LIC’s Conditions
and Service Rules, please refer to https://www.lic.co.nz/about/lic-service-rules/