CVT
21/06/2012 15:43
ALLOT
REL: 1543 HRS Comvita Limited
ALLOT: CVT: Comvita Announces Beekeeper Share Issue Complete
Global natural health and beauty products company Comvita has acquired
177,354 ordinary shares on market at an average price of $3.24 and has now
completed the issue of these shares to its most loyal beekeeper suppliers.
The cost of the buyback was provided for in Comvita's 2012 financial result.
Comvita Chairman Neil Craig said, "these shares will be used as part of a
value-add bonus scheme to reward our most loyal beekeeper suppliers who have
contributed to the continued growth of Comvita."
"Shares provide a way for suppliers to participate in the value-add that
Comvita has been able to achieve by selling premium branded products in local
and overseas markets"
We hope beekeepers will retain their shares for the longer term, said Mr
Craig, and participate in the ongoing dividend streams.
The first of these dividends, at 10 cents per share fully imputed, will be
paid on the 29th of June 2012.
Mr Craig said, "suppliers who contract their future crops to Comvita allow us
to make commitments to our customers with confidence that our supply is
secure. This in turn provides certainty for our planning and forecasting
processes."
Comvita Directors and Management would like to reiterate their gratitude to
loyal beekeepers for supporting Comvita in maintaining their position as the
global category leader in Manuka honey based products, said Mr Craig.
# Ends #
For further information, please contact:
Comvita Chairman Neil Craig, 021 731 509 Comvita CEO Brett Hewlett, 021 740
160
About Comvita www.comvita.co.nz
Comvita is an international natural health and beauty products company with a
strong New Zealand heritage. We are committed to the development of
innovative natural health and wellbeing products, backed by credible
scientific research.
We develop and manufacture products in the categories of Health Care,
Personal Care (Skincare and Wound Care) and Functional Foods (Health Foods).
Manuka (leptospermum) honey is at the core of the Comvita product range and
we are the largest manufacturer and marketer of this uniquely New Zealand
resource.
We sell into more than 18 countries through a network of wholesale and
third-party outlets, more than 470 branded retail outlets throughout Asia -
including 400 stores in 40 cities in mainland China and online. We have
offices in New Zealand, Australia, Hong Kong, Japan, Taiwan, South Korea and
the United Kingdom.
Notice to NZX Limited
For immediate release
177,354 ordinary shares issued to Beekeepers and 2,646 sold back into the
market under approved buyback programme as announced to the market on the
25th May 2012
We hereby advise the NZX in accordance with NZSX Listing Rule 7.12.1 that
Comvita Limited ("CVT") has issued securities, the details of which are as
follows:
(a) Class of Security and ISIN: Ordinary Shares NZCVTE000157
(b) the number issued: 180,000;
(c) the nominal value (if any) and issue or acquisition price: $3.24 per
share for 177,354 shares and an average price of $3.30 for 2,646 shares sold
on-market;
(d) whether payment was in cash: Non cash for 177,354 shares and cash for
2,646 shares;
(e) any amount paid up (if not in full): Not applicable;
(f) the percentage of the total Class of Securities issued or acquired:
0.6363% of issued Ordinary Shares;
(g) the reason for the issue or acquisition: value-add bonus scheme to reward
our most loyal beekeeper suppliers and disposal of surplus shares;
(h) the specific authority for the issue or acquisition (if any): Directors
Resolution;
(i) any terms or details of the issue or acquisition (such as an escrow
provision): Not applicable;
(j) the total number of Securities of the Class in existence after the issue
or acquisition: This now increases the Quoted Ordinary Shares by 180,000
which now brings this up to 28,466,871;
(k) in the case of an acquisition of shares by an Issuer which is a company
registered under the Companies Act 1993, whether those shares are to be held
as Treasury Stock: Not Applicable;
(l) the dates of issue: 21st June 2012.
End CA:00224137 For:CVT Type:ALLOT Time:2012-06-21 15:43:11
