MCK
18/07/2014 13:02
CAPREC
REL: 1302 HRS Millennium & Copthorne Hotels New Zealand Limited
CAPREC: MCK: MCK Completes Capital Reduction Scheme (corrected)
(Corrected to show correct number of redeemable preference shares cancelled)
MCK advises that its capital reduction scheme of arrangement (the Scheme)
became effective at 6.00pm on 17 July 2014.
Under the Scheme, for every 1,000 ordinary shares or preference shares held
by MCK shareholders at the Scheme record date of 6.00pm on 17 July 2014, 698
shares were cancelled and those MCK shareholders were distributed 327 shares
in First Sponsor Group Limited (FSGL). Where MCK ordinary shares or MCK
preference shares were not held in a multiple of one thousand, the
cancellation and distribution ratios were applied on a pro-rata basis. Any
fractional entitlements to MCK shares or FSGL shares after applying the
cancellation and distribution ratios were rounded down to the nearest whole
share.
The Scheme resulted in the cancellation of 244,019,776 MCK ordinary shares
and 121,894,823 MCK preference shares, reducing the total number of MCK
ordinary shares and MCK preference shares on issue to 105,578,290 and
52,739,543 respectively. MCK's core assets have not changed under the Scheme.
MCK's ordinary shares and preference shares have been trading without an
entitlement to participate in the Scheme (and have been trading under
temporary ticker codes) since 15 July 2014. From today, MCK's ordinary shares
and preference shares resumed trading under their original ticker codes of
"MCK" and "MCKPA" respectively.
FSGL's initial public offering closed at 5.00pm New Zealand time on 17 July
2014. FSGL is expected to list on the Singapore Exchange on 22 July 2014.
ENDS
Enquiries:
Millennium & Copthorne Hotels New Zealand Limited
(09) 353 5058
Takeshi Ito
Group Company Secretary
End CA:00252861 For:MCK Type:CAPREC Time:2014-07-18 13:02:11
