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- Release Date: 18/06/12 14:38
- Summary: S/HOLDER: TME: Fairfax completes sell down of 15% of Trade Me
- Price Sensitive: No
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TME
18/06/2012 12:38
S/HOLDER
REL: 1238 HRS Trade Me Group Limited
S/HOLDER: TME: Fairfax completes sell down of 15% of Trade Me
Announcement: TME
18 June 2012
Fairfax completes sell-down of 15% of Trade Me
Following this morning's trading halt, Trade Me Group Limited ("Trade Me")
has been advised that Fairfax Digital Holdings NZ Limited ("Fairfax") has
successfully completed the sell-down of 15 per cent of the issued capital of
Trade Me.
Fairfax appointed UBS New Zealand Limited to underwrite and manage the sale
to a broad range of institutional investors at a price of A$2.70 (NZ$3.46)
per share. This represents a discount of approximately 3.2% on the closing
share price of Trade Me on 15 June 2012, prior to the trading halt.
After settlement of the sale of the shares, which is expected to occur on 21
June 2012, Fairfax will hold 51 per cent of Trade Me.
Trade Me chairman David Kirk said the sell-down of shares by Fairfax was a
positive step for Trade Me shareholders. "We understand the shares have been
placed with a wide range of New Zealand and Australian institutions, and this
broader spread of shareholding in Trade Me will assist liquidity. There has
been strong support from existing Trade Me shareholders, which shows their
confidence in the company."
Shares in Trade Me are expected to resume trading today.
Linda Cox
Company Secretary for Trade Me
+61 448 911 029/+64 27 447 5537
-ends-
This announcement does not constitute an offer to sell, or a solicitation of
an offer to buy, securities in the United States. This announcement may not
be distributed or released in the United States. The securities offered and
sold in the sale have not been, and will not be, registered under the U.S.
Securities Act or the securities laws of any state or other jurisdiction of
the United States, and may not be offered or sold in the United States unless
the securities have been registered under the U.S. Securities Act or an
exemption from the registration requirements of the U.S. Securities Act is
available.
End CA:00223977 For:TME Type:S/HOLDER Time:2012-06-18 12:38:55
