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


Successful Outcome For Powerco Shareholders

5 November 2004

Prime Infrastructure Announces Successful Outcome For Powerco Shareholders

Prime Infrastructure today announced that there will be no scaling to either the cash or combination option offered to shareholders under its successful Takeover Offer for Powerco.

Prime Infrastructure offered three options to shareholders: 100% cash, a combination of 37.5% Prime Infrastructure NZ SPARCS and 62.5% cash, or 100% Prime Infrastructure NZ SPARCS.

Chris Chapman, Managing Director of Prime Infrastructure Management Limited said “We are pleased with this outcome for Powerco’s New Zealand shareholders. It is pretty consistent with where we thought it would be.”

The final number of acceptances received under the Offer for ordinary shares by Computershare Investor Services Limited totalled 301,287,438 shares (or 95.29% of the issued share capital).

Total acceptances received by Computershare in respect of the capital bonds was 26,155,000 (or 26.15% of the total number on issue).

The Offer closed on 2 November. Prime Infrastructure will settle with those who have accepted the Offer by 9 November.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news