- Release Date: 16/05/16 12:32
- Summary: GENERAL: LIC: LIC announces a shareholder roadshow
- Price Sensitive: No
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LIC 16/05/2016 12:32 GENERAL PRICE SENSITIVE REL: 1232 HRS Livestock Improvement Corporation Limited (NS) GENERAL: LIC: LIC announces a shareholder roadshow 16 May 2016 Market statement LIC announces a shareholder roadshow to discuss a capital structure proposal Livestock Improvement Corporation (NZX:LIC) is to hold a series of shareholder meetings around the country, commencing 7 June in Gore, to discuss proposed changes to the co-operative's capital structure. Murray King, LIC Chairman, says the roadshow will be an opportunity for shareholders to learn more about the proposal, and what it means for the co-operative. Key points to be discussed: oSeparating LIC's operations into two separate businesses, creating: o A genetics/herd improvement co-operative, working with New Zealand's dairy farmers. o An agri-technology company, bringing the existing agri-technology activities under a new corporate structure. This new business would also invest in new and innovative products, servicing customers in New Zealand and offshore. o How separation has the potential to create value and provide options for the future. o The potential for non-co-operative shareholders to invest in a portion of the agri-technology company. This would be subject to a shareholder vote in 2017 should the LIC Board decide to proceed with this aspect of the proposal. "As part of LIC's strategy we have been talking with our shareholders about a need to review our capital structure for some time. "Our thinking has progressed to a point where we can now provide an update on plans to unlock opportunities and value in the business, and seek shareholder feedback on the proposed changes. "More information will be available to shareholders (released to the market and published on LIC's website) by Tuesday 31 May. "All shareholders are encouraged to attend the meetings. We look forward to their feedback and questions and to sharing information about the proposal to enable LIC to realise its potential," says Mr King. LIC shareholder roadshow date Tuesday 7 June 10.00am - 12.00pm Gore Heartland Hotel Croydon 100 Waimea St, Croydon, Gore Tuesday 7 June 7.00pm - 9.00pm Ashburton Hotel Ashburton 11-35 Racecourse Road Wednesday 8 June 10.30am - 12.00pm Nelson Seifried Estate Winery 184 Redwood Road, Appleby Wednesday 8 June 7.00pm - 9.00pm Whangarei Barge Showgrounds Event Centre Maunu Road, Maunu Thursday 9 June 11.00am - 1.00pm Whakatane Awakeri Event Centre State Highway 30 Thursday 9 June 6.00pm - 8.00pm Morrinsville Morrinsville Golf Club, Links Road Friday 10 June 11.00am - 1.00pm New Plymouth (Stratford) TET Multi Sports Centre 62 Portia St, Stratford Friday 10 June 7.00pm - 9.00pm Palmerston North Copthorne Hotel 110 Fitzherbert Avenue Invitations will be sent directly to shareholders and will also be posted on the LIC website. www.lic.co.nz ENDS Contact: Ali Tocker, [email protected] 027 617 1942 End CA:00282448 For:LIC Type:GENERAL Time:2016-05-16 12:32:30
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Ann: GENERAL: LIC: LIC announces a shareholder roadshow
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