CVT
25/02/2015 10:06
BUYBACK
NOT PRICE SENSITIVE
REL: 1006 HRS Comvita Limited
BUYBACK: CVT: Supplier Group Share Scheme - Listing Rule 7.6.2
Comvita Limited (NZX:CVT) will enhance its security of supply of Manuka honey
through the introduction of a share scheme that will reward its largest and
most loyal beekeeper honey suppliers who commit to long term supply
agreements with Comvita.
Comvita CEO Brett Hewlett said, "The scheme will provide a way for suppliers
of Manuka honey to participate in the value add that Comvita is able to
achieve as a business. To enact the scheme, Comvita will purchase on the NZX
up to 600,000 of its ordinary shares between now and 29 January 2016. The
buying back of already issued shares through the market will not dilute
earnings per share for existing Comvita shareholders.
Honey suppliers entering into long term contracts with Comvita will be able
to participate in the dividend flow and capital appreciation in the Comvita
shares through this new innovative scheme which will be introduced to
beekeepers progressively over the next few months."
Comvita therefore proposes to acquire its own equity securities by offers
made through NZX's order matching market as follows:
Offer date: The maximum period during which offers will be made is from and
including 3 March 2015 (being three clear business days after the date of
this Notice) to 29 January 2016.
Equity securities to be acquired: The equity securities to be acquired are
up to 600,000 ordinary shares, being approximately 1.50% of Comvita's total
ordinary shares.
#End#
For further information or queries:
Comvita CEO, Brett Hewlett, 021 740 160
Comvita Chairman, Neil Craig, 021 731 509
Comvita Communications Manager, Julie Chadwick, 021 510 693
Background information
About Comvita (www.comvita.com)
Comvita (NZX:CVT) is a global natural health company committed to the
development of innovative products, backed by ongoing investment in
scientific research. We are the world leaders in Manuka (leptospermum) honey
and fresh-picked Olive Leaf Extract, which are at the core of the Comvita
product range.
We have approximately 50% of honey supply under direct ownership or control,
with the balance of supply from long term contractual and partnership
arrangements. Comvita pioneered the development and use of medical grade
Manuka honey and was the first to receive FDA approval (2007). We partner
with US wound care company Derma Sciences, Inc. (NASDAQ:DSCI), the global
licensee for Medihoney specialist wound care products, which are used in
hospitals and medical centres around the world. Comvita's freshly picked
Olive Leaf Extract is grown, harvested, extracted and bottled at the world's
largest specialised olive leaf grove, with over one million olive trees.
Comvita sells into more than 18 countries through a network of our own
branded retail locations, online (nine country specific e-commerce websites)
and third-party outlets. We have over 450 staff located in New Zealand,
Australia, Hong Kong, Japan, Taiwan, South Korea, the United Kingdom and the
USA.
End CA:00261118 For:CVT Type:BUYBACK Time:2015-02-25 10:06:48
