- Release Date: 04/06/14 19:04
- Summary: CAPREC: MCK: MCK: Capital Reduction Scheme & Notice of Special Meeting
- Price Sensitive: No
- Download Document 1.66KB
MCK 04/06/2014 17:04 CAPREC REL: 1704 HRS Millennium & Copthorne Hotels New Zealand Limited CAPREC: MCK: MCK: Capital Reduction Scheme & Notice of Special Meeting MCK advises that shareholders have today been sent a package of information (the "Information Pack)" in relation to its proposed capital reduction scheme (the "Scheme"). MCK has previously indicated that it intends to distribute its shareholding in its associate company First Sponsor Group Limited ("FSGL") by way of a capital reduction and a distribution in specie. Under the Scheme, for every 1000 ordinary or preference shares held by shareholders, 698 shares would be cancelled and shareholders would receive 327 FSGL shares. To arrive at the cancellation ratio, MCK has used a volume-weighted average price of 68 cents per MCK share (ordinary or preference), an exchange rate of NZ$1 / S$1.07 and has assumed a price for each FSGL share of S$1.55 (being the mid point of the price range set out in the FSGL preliminary prospectus). The Information Pack despatched to shareholders today includes: --a notice of meeting and explanatory booklet (the "Scheme Booklet") (attached); --an independent advisor's report prepared by Grant Samuel (attached as Annexure A of the Scheme Booklet); and --a copy of the FSGL preliminary prospectus (attached). The Special Meeting to consider and, if thought fit, approve the Scheme is to be held at Copthorne Hotel Auckland City, 150 Anzac Avenue commencing from 2.30pm on Thursday 19 June 2014. ENDS Enquiries: Millennium & Copthorne Hotels New Zealand Limited (09) 353 5058 Takeshi Ito Group Company Secretary End CA:00251215 For:MCK Type:CAPREC Time:2014-06-04 17:04:01
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