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- Release Date: 30/11/12 11:07
- Summary: LISTING: FSF: FONTERRA CONFIRMS ALLOTMENT OF UNITS TO PROCEED TOMORROW
- Price Sensitive: No
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FSF
30/11/2012 09:07
LISTING
REL: 0907 HRS Fonterra Shareholders' Fund (NS)
LISTING: FSF: FONTERRA CONFIRMS ALLOTMENT OF UNITS TO PROCEED TOMORROW
29 November 2012
FONTERRA CONFIRMS ALLOTMENT OF UNITS IN THE FONTERRA SHAREHOLDERS' FUND TO
PROCEED TOMORROW FOLLOWING DIRA CHANGE
Fonterra Co-operative Group Limited ("Fonterra") is pleased to confirm that
an Order in Council was made today under section 109B of the Dairy Industry
Restructuring Act 2001 ("DIRA").
The Order in Council removes the requirement under DIRA for Fonterra to issue
and surrender Co-operative shares ("Shares") to its farmer shareholders, who
will instead buy and sell Shares on the Fonterra Shareholders' Market from
tomorrow.
The Order in Council means the offer of units ("Units") by the Fonterra
Shareholders' Fund ("Fund") is unconditional and allotment of Units in the
Fund and trading of those Units on the NZX Main Board and on ASX will
commence tomorrow.
The Fund is intended to support the Fonterra Shareholders' Market by
providing a platform for Fonterra's farmer shareholders to exchange Shares
for Units, and vice versa. Outside investors will also be able to buy and
sell Units on the NZX Main Board and on ASX.
DIRA was enacted in September 2001 and provided for the formation of Fonterra
and an accompanying regulatory framework for the New Zealand dairy industry.
End CA:00230467 For:FSF Type:LISTING Time:2012-11-30 09:07:40
