PCT
19/03/2015 12:59
RIGHT
PRICE SENSITIVE
REL: 1259 HRS Precinct Properties New Zealand Limited
RIGHT: PCT: Successful Completion of Retail Component-Entitlement Offer
Completion of Retail Component of Entitlement Offer
Precinct Properties New Zealand Limited ("Precinct") advises that it has
successfully completed the retail component 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 retail component of the Offer ("Retail Entitlement Offer") has raised
gross proceeds of approximately NZ$38.1 million.
The shares taken up under the Retail Entitlement Offer are expected to be
allotted and commence trading on 25 March 2015.
Retail Bookbuild
Approximately 51.8 million shares out of a total Retail Entitlement Offer
size of 84.9 million shares are available for the retail bookbuild component
of the Offer, to be conducted by Credit Suisse and First NZ Capital. The
bookbuild is opening at 2.00pm on Thursday 19 March, and is expected to close
at 1.00pm on Friday 20 March. A trading halt has been sought for the period
during which the retail bookbuild will be conducted.
Retail shareholders who did not take up their full entitlements or who were
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 which is available on Precinct's website
(www.precinctrightsoffer.co.nz) and seek financial, investment, or other
professional advice from a qualified professional adviser.
For further information, 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
The Offer is fully underwritten by Credit Suisse (Australia) Limited and
First NZ Capital Securities Limited, except for Haumi's participation. Haumi
is Precinct's largest shareholder and has committed to take up its
entitlement to maintain (but not increase) its percentage shareholding in
Precinct.
End CA:00262060 For:PCT Type:RIGHT Time:2015-03-19 12:59:47
