Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Rubicon announces details of share buy-back


MEDIA RELEASE


Rubicon announces details of share buy-back and small shareholdings programme


Auckland, 13 July 2001 - Rubicon today released details of the $60 million share buy-back announced last month, and also outlined terms of a small shareholdings programme.

The Chief Executive Officer of Rubicon Limited, Mr Luke Moriarty, said, “The Company will effect the buyback by purchasing up to 95 million Rubicon shares “on-market” on the New Zealand Stock Exchange (NZSE). A Disclosure Document outlining the details of the buyback has been sent to all shareholders today. Under the Companies Act, the buyback cannot commence until 10 working days following the despatch of the Disclosure Document to shareholders – which means that Monday 30 July 2001 is the earliest date we could start buying back Rubicon shares. We have today given the NZSE notice that the offer will open on that day, which means that Rubicon can acquire shares at any time after Monday 30 July 2001. The Company can hold the offer open for up to 12 months from the date of this notice to the NZSE.”

Rubicon also announced a small shareholdings programme, open until 30 November 2001, whereby shareholders holding less than 500 shares (the minimum holding under the NZSE listing rules) who wish to dispose of their Rubicon shares, will be able to do so without incurring brokerage fees. A letter outlining the terms of the programme has, today, been sent to all shareholders holding less than 500 shares.

ENDS

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.