The return of capital was approved by shareholders at NZX's annual meeting on 8 June 2006.
The order from the High Court was registered with the New Zealand Companies Office today. The Record Date will be 5.00pm, Friday 21 July 2006, and payments will be made to shareholders by 5.00pm, Friday 11 August 2006.
One share in every eight NZX shares registered in the name of each shareholder at the Record Date will be cancelled. Fractions of a share will be rounded up or down to the nearest whole number (with half a share being rounded up). NZX will undertake a one-for-one share split immediately after the return of capital has been effected.
By 11 August 2006, every holder of ordinary shares registered at 5.00pm on the Record Date will receive $9.69 for each share cancelled, or approximately $1.21 per share held.