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Earlier this month, NZX Limited announced that a fully imputed dividend of $0.25 per share will be paid for the year ending 31 December 2008.
NZX also announced at this time that the Distribution Plan (which was offered in
2007 but not 2008) would be re-instituted. Further to this announcement, NZX
advises that the NZX Distribution Plan Document is now available.
The record date is 14 April 2009 and the payment and allotment date is 6 May 2009.
Under the Distribution Plan, holders of NZX ordinary shares will receive distributions
in respect of their shares in the form of fully paid ordinary shares (“Bonus Shares”),
together with an offer from NZX to buy back all, or a portion, of the Bonus Shares.
The Plan allows shareholders the option to receive cash, rather than Bonus Shares,
by electing to have their Bonus Shares bought back.
Under the Plan, shareholders have four options:
1. Full participation in the Plan, by doing nothing and retaining all Bonus Shares
issued to them;
2. Partial participation in the Plan, by electing to have 25% of their Bonus Shares
bought back by NZX;
3. Partial participation in the Plan, by electing to have 50% of their Bonus Shares
bought back by NZX;
4. No Participation in the Plan, by electing for NZX to buy back all of their Bonus
Shares.
The Board of NZX has decided to implement the Plan for capital management
purposes. NZX is experiencing strong growth and will continue to pursue domestic
and international business opportunities. Also, the plan enables NZX to
accommodate the different payment preferences of the NZX Shareholder base to
retain profits as an investment or to receive their share of profits in cash.
The NZX Distribution Plan Document, including full terms and conditions, is available
at the following link: http://www.nzx.com/about_nzx/investor_relations
