ENP Newswire -
Release date- 13082014 -
The buy-back will be funded from excess cash generated through
The buy-back will be managed through a tender process with the tender period closing on Friday,
Details of the Buy-Back
The Buy-Back will involve a tender process, under which Eligible Shareholders will be invited to tender their Shares to
Eligible Shareholders may also select a Minimum Price below which Shares tendered by them will not be bought back.
if the Buy-Back Discount is less than the discount they selected, shareholders will receive the lower Buy-Back Discount; and
if the Buy-Back Discount is greater than the discount they selected, then those Shares will not be bought back.
Shareholders who successfully tender may be subject to scale back if the total value of Shares, tendered at or greater than the Buy-Back Discount and/or as Final Price Tenders, exceeds
Additionally, shareholders who tender all of their Shares at one or more tender discounts equal to or greater than the Buy-Back Discount and/or as a Final Price Tender, and who would be left with a holding of 375 Shares or less as a result of the scale back, will have their Tender(s) accepted in full without applying a scale back.
Shareholders will receive the fully franked dividend of
The Buy-Back Price will have two components: a capital component of
The terms and conditions of the Buy-Back will be set out in a booklet to be distributed to shareholders by Thursday,
Certain shareholders are not eligible to participate, directly or indirectly, in the Buy-Back, including any (i) person who is located or resident in
Announcement of the Buy-Back
Thursday, 14 August
Last day that Shares can be acquired to be eligible to participate in the Buy-Back and as a consequence may be eligible for Buy-Back franking entitlements
Tuesday, 19 August
Buy-Back Ex-entitlement Date: the date that Shares commence trading on ASX on an ex-Buy-Back basis
Wednesday, 20 August
Buy-Back Record Date: determination of Eligible Shareholders entitled to participate in the Buy-Back
Friday, 22 August
Dividend Ex-entitlement Date: the date that Shares commence trading on an ex-entitlement basis for the 2014 final dividend
Wednesday, 27 August
Dividend record date: determination of Eligible Shareholders entitled to receive the 2014 final dividend
Friday, 29 August
Distribution of Buy-Back Documents to shareholders is expected to be completed
Thursday, 4 September
Tender Period opens
Monday, 8 September
Payment date for 2014 final dividend
Friday, 26 September
Tender Period closes: Tenders must be received by the Registry no later than
Friday, 3 October
Buy-Back Date: Buy-Back Price and scale back (if any) determined and Buy-Back Contracts entered into.
Monday, 6 October
Buy-Back proceeds paid to successful shareholders and updated holding statements dispatched
Tuesday, 14 October
Capitalised terms in this announcement have the same meaning as will be contained within the Buy-Back Booklet.
Not for distribution or release in or into or to any person located or resident in
This media release does not constitute, or form part of, any offer or invitation to sell, or any solicitation of any offer to purchase securities in any jurisdiction, nor shall it or the fact of its distribution be relied on in connection with any contract thereof. No indications of interest in the Buy-Back are sought by this media release.
The Buy-Back is not being made, and will not be made, directly or indirectly in or into, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of or by use of any facilities of a national securities exchange of,
Buy-Back documents, including the booklet describing the terms and conditions of the Buy-Back and tender forms, when issued, and any other documents or materials relating to the Buy-Back are not being, and must not be, directly or indirectly mailed or otherwise transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into
For the purposes of this announcement, '
Forward looking statements
This media release contains forward looking statements, including statements regarding the implementation of the Buy-Back and its effects on our business and securities. The results and effects of the Buy-Back may differ materially from those expressed in, or implied by, these forward looking statements. Factors that could cause or contribute to such differences include the number of Shares bought back, the final Buy-Back Price and the general trading and economic conditions affecting our business. We do not undertake any obligation to revise these forward looking statements to reflect any future events or circumstances.
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