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


Nuplex announces Share Purchase Plan

Nuplex announces Share Purchase Plan

Nuplex Industries Limited announced today that its board had approved an offer to all of its New Zealand and Australian resident shareholders to participate in a share purchase plan (SPP).

Each New Zealand and Australian shareholder will be entitled to purchase up to $5,000 worth of ordinary shares in Nuplex in the currency of their jurisdiction. The number of shares each shareholder will be entitled to will be adjusted so that no shareholder will be entitled to more than NZ$5,000 or A$5,000 worth of shares whichever is the lesser.

Under the SPP, Nuplex intends to issue up to NZ$15 million worth of ordinary shares.

The issue price of the ordinary shares under the SPP will be the lesser of: NZ$4.90 (or its equivalent in Australian currency for Australian shareholders); and A discount of 3.5% to the volume weighted average market price (rounded to four decimal places) of Nuplex's ordinary shares sold on the NZX and ASX (whichever is the lesser in the event of any difference), calculated over the 30 days on which sales are recorded before the offer date (19 November 2004). The purpose of the issue is to assist with the finance of the acquisition of the coatings resins group of Akzo Nobel NV.

The Chairman, Fred Holland said that “The share purchase plan provided a unique low cost and efficient way for shareholders to participate in the Company’s capital raising, to fund the coating resins’ acquisition. New Zealand and Australian shareholders have an equal opportunity to invest regardless of how many shares they own”

The offer to participate in the SPP will be made to shareholders on the register at 8:30am (NZ time) on 17 November 2004.

The closing date for the SPP will be 10 December 2004 and the shares will be allotted on 14 December 2004.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news