PCT
27/02/2015 13:04
RIGHT
PRICE SENSITIVE
REL: 1304 HRS Precinct Properties New Zealand Limited
RIGHT: PCT: Successful Completion of Institutional Bookbuild
Completion of Institutional Bookbuild
Precinct Properties New Zealand Limited ("Precinct") advises that it has
successfully completed the institutional bookbuild component ("Institutional
Bookbuild") of its 1 for 7 underwritten (footnote 1) entitlement offer
("Offer"). The Offer was announced on 25 February 2015, and will raise a
total of approximately NZ$174.1 million.
The clearing price under the Institutional Bookbuild was NZ$1.205 per share,
a premium of NZ$0.055 per share over the application price of $NZ1.15 under
the Offer. Therefore, eligible institutional shareholders who elected not to
take up their entitlements and ineligible institutional shareholders will
receive NZ$0.055 for each new share not taken up by them.
The shares taken up under the Institutional Bookbuild are expected to be
allotted and commence trading on 4 March 2015.
Retail Entitlement Offer
The retail component of the Offer ("Retail Entitlement Offer") will open at
10am (NZT) on Monday 2 March 2015 and will close on Wednesday, 18 March 2015.
Eligible retail shareholders will be able to subscribe for 1 new share for
every 7 Precinct shares held on the record date of 5pm (NZT) on 27 February
2015, at the same application price as the Institutional Entitlement Offer
(NZ$1.15).
An offer document will be sent to eligible retail shareholders on 2 March
2015 and is available on Precinct's website (www.precinctrightsoffer.co.nz).
Eligible retail shareholders wishing to acquire new shares under the Retail
Entitlement Offer will need to complete the personalised Entitlement and
Acceptance Form that will accompany the offer document.
Eligible retail shareholders may choose to take up their entitlements in
whole, in part or not at all. Shares not taken up by eligible retail
shareholders and those which would otherwise have been offered to ineligible
retail shareholders, will be offered for subscription to selected
institutional investors through a Retail Bookbuild scheduled for 20 March
2015.
Retail shareholders who do not take up their entitlements or who are
ineligible to participate in the Retail Entitlement Offer will receive a pro
rata share of any positive difference between the Retail Bookbuild price and
the application price for new shares of NZ$1.15 per new share. There is no
guarantee that any value will be received from the Retail Bookbuild by
eligible retail shareholders who did not take up their full entitlement or
ineligible retail shareholders.
Shareholders who have any queries about the Offer are encouraged to read the
offer document and seek financial, investment, or other professional advice
from a qualified professional adviser.
Precinct shares are expected to resume trading shortly after the release of
this announced on Friday 27 February 2015
For further information, please contact:
Scott Pritchard
Chief Executive Officer
Office: +64 9 927 1640
Mobile: +64 21 431 581
Email: [email protected]
George Crawford
Chief Financial Officer
Office: +64 9 927 1641
Mobile: +64 21 384 014
Email: [email protected]
IMPORTANT INFORMATION
This announcement has been prepared for publication in New Zealand and may
not be released or distributed in the United States. This announcement does
not constitute an offer to sell, or a solicitation of an offer to buy,
securities in the United States or any other jurisdiction. Any securities
described in this announcement have not been, and will not be, registered
under the US Securities Act of 1933 and may not be offered or sold in the
United States except in transactions exempt from, or not subject to, the
registration of the US Securities Act and applicable US state securities
laws.
Footnote 1
Except for Haumi's participation. Haumi is Precinct's largest shareholder
and had committed to take up its entitlement to maintain (but not increase)
its percentage shareholding in Precinct.
End CA:00261274 For:PCT Type:RIGHT Time:2015-02-27 13:04:44
