KRK
26/02/2016 09:25
CAPREC
NOT PRICE SENSITIVE
REL: 0925 HRS Kirkcaldie & Stains Limited
CAPREC: KRK: Kirkcaldie & Stains Completes Share Cancellation
Market Announcement
26 February 2016
Kirkcaldie & Stains Completes Share Cancellation
Kirkcaldie & Stains Limited (the 'Company') has cancelled four (4) in every
five (5) shares held by shareholders on 25 February 2016, which was the
record date for the capital return.
Fractions of shares were rounded down to the nearest whole share. This has
resulted in the cancellation of 8,199,888 shares, reducing the total number
of shares on issue from 10,250,000 to 2,050,112.
The $19.354 million capital return is undertaken by a scheme of arrangement
under Part XV of the Companies Act 1993 which was approved by the High Court
of New Zealand on 9 February 2016.
Kirkcaldie & Stains shares have been placed in trading halt from the close of
business on Monday 22 February 2016 until market open this morning.
On Monday 29 February 2016, Kirkcaldie & Stains will pay $2.3602 for each
share cancelled.
The Kirkcaldie & Stains Trustee Company Limited (100% subsidiary of
Kirkcaldie & Stains Limited) which, prior to the share cancellation, held
35,850 shares in the Company, is participating in the cancellation and
distribution.
Following the completion of payment to each shareholder on 29 February 2016,
the residual 7,170 shares held in the Company by The Kirkcaldie & Stains
Trustee Company Limited, will be cancelled, reducing the total number of
shares on issue from 2,050,112 to 2,042,942.
ENDS
For further information:
Orsola Del Sante-Bland
E: [email protected]
End CA:00278380 For:KRK Type:CAPREC Time:2016-02-26 09:25:48
