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- Release Date: 30/04/13 17:10
- Summary: S/HOLDER: FSF: FONTERRA CONFIRMS SUPPLY OFFER DATES
- Price Sensitive: No
- Download Document 1.89KB
FSF
30/04/2013 15:10
S/HOLDER
REL: 1510 HRS Fonterra Shareholders' Fund (NS)
S/HOLDER: FSF: FONTERRA CONFIRMS SUPPLY OFFER DATES
Fonterra Co-operative Group Limited today confirmed that a Supply Offer
enabling farmer shareholders to sell the economic rights of some of their
shares will open on 2 May and close at 5pm on 23 May.
Farmer shareholders will have the opportunity to offer to sell the economic
rights of up to 25 per cent of their minimum required shares ('Wet Shares')
to the Fonterra Shareholders' Fund.
The price farmers will receive for their economic rights (the "final price")
will be announced on 16 May. It will be calculated by reference to the
average daily sales prices on the NZX for Fonterra Units for each trading day
between 2 - 15 May inclusive.
Farmer shareholders will then have a further week after the final price has
been announced to confirm if they wish to participate in the Supply Offer
before it closes.
"We encourage those considering their options to seek independent financial
advice," said General Manager - Trading Among Farmers, Aaron Jenkins.
A Supply Offer booklet and Supply Offer form are being mailed to all farmer
shareholders this week. They are also available online at
www.fonterrasupplyoffer.com from 2 May.
The outcome of the Supply Offer will be announced on 27 May, and farmer
shareholders who participate in the offer will receive payment for any
economic rights to Wet Shares that they sell by 6 June.
In net terms the Offer will not affect the total number of Units on issue and
the Fund size will not increase. Fonterra will purchase the units that arise
as a result of the Supply Offer, using the $475 million raised at the launch
of Trading Among Farmers, and subsequently redeem them for Fonterra shares.
- ENDS -
For further information contact:
Fonterra Communications
Phone: +64 21 507 072
End CA:00235669 For:FSF Type:S/HOLDER Time:2013-04-30 15:10:20
