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- Release Date: 19/03/12 15:13
- Summary: DRP: AIR: Setting of issue price under Dividend Reinvestment Plan
- Price Sensitive: No
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AIR
19/03/2012 13:13
DRP
REL: 1313 HRS Air New Zealand Limited (NS)
DRP: AIR: Setting of issue price under Dividend Reinvestment Plan
On 24 February 2012 Air New Zealand Limited ("Air New Zealand") declared an
interim dividend of 2 cents per ordinary share. Air New Zealand now advises
that it has set an issue price of NZ$0.8483 per share for the purposes of
calculating additional share entitlements under Air New Zealand's Dividend
Reinvestment Plan.
In accordance with the terms of the Dividend Reinvestment Plan, the issue
price is 98.5% of the volume weighted average sale price of Air New Zealand's
ordinary shares (expressed in cents and fractions of cents and converted into
New Zealand dollars at the rate displayed at 11.10am on the date of
calculation on the Reuters Monitor Screen Page RBNZ01) calculated on all
sales of shares (excluding large or unusual trades) which took place through
the NZSX and ASX on the first five trading days on which the shares trade
ex-entitlement on the NZSX for the dividend.
Shareholders who have elected to participate in the Dividend Reinvestment
Plan will apply all or part of their dividend to subscribe for new Air New
Zealand ordinary shares. The number of additional ordinary shares that a
participant in the Dividend Reinvestment Plan will receive will be calculated
by multiplying the net dividend per share by the number of that participant's
participating shares and then dividing that number by the issue price of
NZ$0.8483.
Any fractional entitlements to a share will be rounded down to the nearest
whole number of shares. The ordinary shares issued pursuant to the Dividend
Reinvestment Plan will be allotted on the date the dividend is paid,
currently scheduled to be 21 March 2012.
The dividend is not imputed therefore, for New Zealand tax resident
shareholders, resident withholding tax must be deducted from the dividend of
2 cents per ordinary share with the net amount then able to be fully
reinvested. For Australian tax residents, non resident withholding tax must
be deducted with the net amount then able to be fully reinvested. No
Australian franking credits will be allocated to the dividend payments.
The exchange rate applicable to Australian Shareholders for the purposes of
the final dividend announced on 24 February 2012 is NZ$1 = A$0.7807.
End CA:00220863 For:AIR Type:DRP Time:2012-03-19 13:13:56
