New date for CommSoft Entitlement
Strathmore announces new date for CommSoft entitlement
Auckland – August 10, 2000, Strathmore Group Limited (NZSE: SMR) has advised that the Record Date for its shareholders to become eligible for a preferential entitlement to ASX listing company CommSoft shares has been changed.
The close off date for eligibility had been extended from August 11 to, 5 p.m. on Friday August 25.
Strathmore shareholders have a preferential entitlement to subscribe for CommSoft shares at a rate of one CommSoft share for every 75 Strathmore shares they hold with a guaranteed minimum of 500 CommSoft shares. The subscription will be in accordance with a registered prospectus and investment statement to be provided by CommSoft
Alternatively, New Zealand Funds Management has offered to pay $A0.11 cents a share to buy the entitlement of any Strathmore public shareholders not wanting to buy CommSoft shares.
Mailing of the formal offer to Strathmore shareholders will commence on 15 August.
Strathmore has also offered to buy back 15% of the company’s share capital and to fund this buy back with the provision of CommSoft shares. The Record Date for this offer is 18 August for shareholders who continue to hold until the listing of CommSoft which is targeted for 13 September.
The Buy Back offer will be mailed to Strathmore shareholders on 21 August.
The attached table outlines examples the buyback,
preferential entitlement, and New Zealand Funds Management
About Strathmore Group Limited
Strathmore Group Limited is a technology investment company with approximately $NZ19 million of shareholders’ funds. It targets Internet, e-Commerce and information technology companies with potential to deliver accelerated growth in shareholder value by competing in global markets. It provides strategic advice, capital support, operational assistance, industry expertise and a network of relationships to assist technology companies to migrate internally.
For further information, please call:
Norman, Executive Chairman, Strathmore Group Limited
Tel +64 21 667 210, E-mail: email@example.com
Michael Bartrom, Botica
Conroy & Associates
Tel +64 9 303 3862, E-mail: firstname.lastname@example.org
021 403 503