PGC
26/09/2014 12:23
GENERAL
REL: 1223 HRS Pyne Gould Corporation Limited
GENERAL: PGC: Update - Notice of Offer of Same Class Financial Products
Friday 26 September 2014
Update regarding Notice of Offer of Same Class Financial Products
On Friday 19 September 2014 Pyne Gould Corporation Limited ("PGC") gave
notice pursuant to clause 17(1)(a) of Schedule 1 of the Financial Markets
Conduct (Phase 1) Regulations 2014 that it intended to offer fully paid new
PGC shares in reliance upon the exclusion in clause 19 of schedule 1 of the
Financial Markets Conduct Act 2013 ("FMCA").
The new PGC shares were to be offered to selected shareholders in Equity
Partners Infrastructure Company No. 1 Limited ("EPIC"), in exchange for
shares in EPIC.
Later that evening, PGC learned that EPIC had made a placement of shares
equating to 19.9% of its capital (post placement) to Cheyne Capital
Management (UK) LLP, at a price of GBP 0.30 (approximately NZD $0.60).
This placement was a material factor which PGC had not been aware of when it
issued the notice referred to above. In the circumstances PGC did not proceed
to make any offer.
PGC is currently considering its options.
For more information, please contact: David Lewis +64-21-976 119
End CA:00255751 For:PGC Type:GENERAL Time:2014-09-26 12:23:14
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