NZX Limited (“NZX”) advises that the High Court has today granted orders approving the return of approximately $34.4 million of capital to shareholders, on a pro rata basis, by way of a scheme of arrangement pursuant to Part XV of the Companies Act 1993.
The return of capital was approved by shareholders at NZX’s annual meeting on 30 April 2012.
The order from the High Court was submitted to the New Zealand Companies Office today.
The Record Date for the capital return will be 5.00pm, 25 May 2012.
On 1 June 2012, every holder of ordinary shares registered at 5.00pm on the Record Date will receive $2.85 for each share cancelled, or approximately $0.285 per share held.
One share in every ten 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 seven-for-three share split immediately after the return of capital has been effected (based on post-cancellation balance).
The key dates are as follows:
EVENT | DATE |
Record Date and effective date for share buyback/cancellation | 5.00pm Friday, 25 May 2012 |
Record Date and effective date for share split | 5.00pm Friday, 25 May 2012 (occurs immediately after share buyback /cancellation) |
Payment date for share buyback/cancellation |
Friday, 1 June 2012
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