LIC
16/05/2016 12:32
GENERAL
PRICE SENSITIVE
REL: 1232 HRS Livestock Improvement Corporation Limited (NS)
GENERAL: LIC: LIC announces a shareholder roadshow
16 May 2016
Market statement
LIC announces a shareholder roadshow to discuss a capital structure proposal
Livestock Improvement Corporation (NZX:LIC) is to hold a series of
shareholder meetings around the country, commencing 7 June in Gore, to
discuss proposed changes to the co-operative's capital structure.
Murray King, LIC Chairman, says the roadshow will be an opportunity for
shareholders to learn more about the proposal, and what it means for the
co-operative.
Key points to be discussed:
oSeparating LIC's operations into two separate businesses, creating:
o A genetics/herd improvement co-operative, working with New Zealand's dairy
farmers.
o An agri-technology company, bringing the existing agri-technology
activities under a new corporate structure. This new business would also
invest in new and innovative products, servicing customers in New Zealand and
offshore.
o How separation has the potential to create value and provide options for
the future.
o The potential for non-co-operative shareholders to invest in a portion of
the agri-technology company. This would be subject to a shareholder vote in
2017 should the LIC Board decide to proceed with this aspect of the proposal.
"As part of LIC's strategy we have been talking with our shareholders about a
need to review our capital structure for some time.
"Our thinking has progressed to a point where we can now provide an update on
plans to unlock opportunities and value in the business, and seek shareholder
feedback on the proposed changes.
"More information will be available to shareholders (released to the market
and published on LIC's website) by Tuesday 31 May.
"All shareholders are encouraged to attend the meetings. We look forward to
their feedback and questions and to sharing information about the proposal to
enable LIC to realise its potential," says Mr King.
LIC shareholder roadshow date
Tuesday 7 June
10.00am - 12.00pm
Gore
Heartland Hotel Croydon
100 Waimea St, Croydon, Gore
Tuesday 7 June
7.00pm - 9.00pm
Ashburton
Hotel Ashburton
11-35 Racecourse Road
Wednesday 8 June
10.30am - 12.00pm
Nelson
Seifried Estate Winery
184 Redwood Road, Appleby
Wednesday 8 June
7.00pm - 9.00pm
Whangarei
Barge Showgrounds Event Centre
Maunu Road, Maunu
Thursday 9 June
11.00am - 1.00pm
Whakatane
Awakeri Event Centre
State Highway 30
Thursday 9 June
6.00pm - 8.00pm
Morrinsville
Morrinsville Golf Club, Links Road
Friday 10 June
11.00am - 1.00pm
New Plymouth (Stratford)
TET Multi Sports Centre
62 Portia St, Stratford
Friday 10 June
7.00pm - 9.00pm
Palmerston North
Copthorne Hotel
110 Fitzherbert Avenue
Invitations will be sent directly to shareholders and will also be posted on
the LIC website. www.lic.co.nz
ENDS
Contact: Ali Tocker, [email protected] 027 617 1942
End CA:00282448 For:LIC Type:GENERAL Time:2016-05-16 12:32:30
(20min delay)