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- Release Date: 23/04/12 18:46
- Summary: CONV: BLT: Conversion of BLIS Technologies Limited Preference Shares
- Price Sensitive: No
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BLT
23/04/2012 16:46
CONV
REL: 1646 HRS BLIS Technologies Limited
CONV: BLT: Conversion of BLIS Technologies Limited Preference Shares
NZX Release to the Market
Conversion of BLIS Technologies Limited Preference Shares
Further to the previous market releases and notes to the annual report, BLIS
Technologies confirms that the cumulative convertible preference shares will
be converted to ordinary shares in accordance with the prospectus of 30 March
2009 on 8 May 2012. The exact number of shares to be issued pursuant to the
conversion will be determined on 8 May 2012 in accordance with the conversion
formula described below. The conversion will occur at 5.00 pm on that day.
The conversion formula contained in the prospectus is $1.00 of ordinary
shares issued at 95% of the Ordinary Share price prevailing in the 20
business days prior to conversion subject to a minimum conversion ratio of 25
Ordinary Shares per cumulative convertible preference shares and a maximum
conversion ratio of 100 Ordinary Shares per cumulative convertible preference
shares.
In addition to the conversion of the cumulative convertible preference
shares, the company intends to satisfy the final interest payment on the
cumulative convertible preference shares by way of issue of further ordinary
shares in lieu of cash. The dividend will be equivalent to a gross dividend
of $200,000. The exact number of shares will be determined on 8 May 2012 in
accordance with the conversion formula described above by applying the net
dividend (being $200,000 less tax).
End CA:00222114 For:BLT Type:CONV Time:2012-04-23 16:46:43
