NZX Limited ("NZX") has decided to run an election process for its unsecured, subordinated notes ("Subordinated Notes") (NZX010) prior to the first election date (Tuesday, 20 June 2023) ("Election Date"). Under the election process, Eligible Holders of the Subordinated Notes can elect to either:
- retain all or some of their Subordinated Notes subject to new terms and conditions that will apply from the Election Date; or
- have all or some of their Subordinated Notes redeemed on the Election Date.
Eligible Holders are holders of Subordinated Notes who are recorded on the Subordinated Notes register at the close of business on Thursday, 4 May 2023 as having a New Zealand address. Eligible Holders will be sent an Election Process Invitation on or about Monday, 8 May 2023.
Trading in the Subordinated Notes will be suspended at the close of business on Tuesday, 2 May 2023. Trading in the Subordinated Notes (with new ticker NZX020) is expected to resume on Wednesday, 21 June 2023. Holders will not be able to sell or otherwise transfer Subordinated Notes outside of the election process before Wednesday, 21 June 2023.
Eligible Holders will be able to complete their election online from Monday, 8 May 2023.
Joint Lead Managers
Commonwealth Bank of Australia - 0800 272 266
Forsyth Barr Limited - 0800 367 227
Jarden Securities Limited - 0800 005 678
