MCK
30/06/2014 17:13
CAPREC
REL: 1713 HRS Millennium & Copthorne Hotels New Zealand Limited
CAPREC: MCK: MEMO: MCK and MCKPA Capital Reconstruction and ISIN changes
MEMORANDUM
To: Market Participants
From: NZX Client and Market Services
Date: 30 June 2014
Subject: Millennium and Copthorne Hotels New Zealand Limited ("MCK") Capital
Reconstruction and ISIN changes
Message:
On Wednesday, 4 June 2014, Millennium and Copthorne Hotels New Zealand
Limited (MCK) announced a proposed capital reduction of approximately 70% of
Ordinary Shares and approximately 70% of Preference Shares through the
distribution in specie of First Sponsor Group Limited ("FSGL") Shares to
shareholders, subject to (among other things*) Court approval and special
resolutions being passed at a special meeting of shareholders held on
Thursday, 19 June 2014.
Shareholder approval was obtained on Thursday, 19 June 2014. MCK is still
seeking High Court approval, which is expected to be obtained on Thursday, 10
July 2014.
The reduction of capital will be on a pro-rata basis, with 698 for every
1,000 Ordinary or Preference Shares held cancelled at the Record Date. For
every 698 cancelled Ordinary or Preference Shares, holders will receive 327
shares in FSGL. Adjusted MCK shares and MCKPA preference shares will be
available at the registry on the morning of the first business day after the
Record Date and Scheme Effective Date.
In order for the reduction in capital to be processed and for trading on the
NZX Main Board to continue, temporary ticker codes ("MCKZ", "MCKPAZ") with
the ISINs NZMCKE0004S9 and NZMCKE0005S6 respectively will be created. MCKZ
and MCKPAZ will be used from the Ex Date until market close on the Record
Date.
On Friday, 18 July 2014, trading will resume using the original Millennium
and Copthorne Hotels New Zealand Limited ticker codes (MCK, MCKPA) with the
new ISINs NZMCKE0004S9 and NZMCKE0005S6 respectively. At this time, trading
in MCKZ and MCKPAZ will cease.
A timetable of expected events is detailed in the attached.
Please contact Client and Market Services on +64 4 496 2853 or [email protected]
with any queries.
ENDS
End CA:00252242 For:MCK Type:CAPREC Time:2014-06-30 17:13:55
