Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


400,000 New Zealanders Pre-Register For Mighty River Power

Hon Tony Ryall

Minister for State Owned Enterprises


20 March 2013 Media Statement

400,000 New Zealanders Pre-Register For Mighty River Power

As at 10 am today over 400,000 New Zealanders have pre-registered their interest in buying shares in Mighty River Power.

Minister for State Owned Enterprises Hon Tony Ryall says that if New Zealanders have questions about share ownership, there is information available.

“I urge them to go to the pre-registration website – www.mightyrivershares.govt.nz. It has a Frequently Asked Questions section which will be very helpful for new investors and for people who haven’t participated in a Share Offer before,” Mr Ryall says.

“There is also the www.governmentshareoffers.govt.nz website that has information on the Mixed Ownership Model programme, as well as information about share ownership.”

Mr Ryall says the pre-registration website and the 0800 call centre have been extremely busy since the launch of the pre-registration programme.

“We encourage New Zealanders who are interested in finding out more about the Mighty River Power Share Offer to pre-register their interest. Pre-registering does not oblige you to apply for shares and will allow us to keep you informed.”

“But they’ll have to do that within the next two and a half days.”

The pre-registration deadline is 5pm on Friday 22 March.

“Pre-registration is only for New Zealanders and it does not commit anyone to having to buy the shares,” Mr Ryall says.

“A New Zealander who pre-registers may get a share allocation benefit of up to 25 per cent more shares that those who do not pre-register. In the event that the Share Offer is oversubscribed, the 25 per cent allocation benefit will apply as follows:

• A pre-registrant who goes on to apply for shares in the general public offer will receive up to 25 per cent more shares than someone who does not pre-register and applies for the same amount of shares
• Applies to all applications above $2,000. All New Zealanders who apply are guaranteed the first $2,000 worth of shares applied for, irrespective of whether they pre-registered
• No one will receive more shares than they applied for

“New Zealanders can pre-register online or via the Share Offer call centre at:

• Website - www.mightyrivershares.govt.nz
• Free call – 0800 90 30 90 (8am to 8pm Monday to Friday and 8am to 8pm Weekends)

“The Government will remain as the 51 per cent majority shareholder of Mighty River Power and no other shareholder will be able to own more than 10 per cent of the company,” Mr Ryall says.


Important notice

The Crown is considering offering shares to the public in Mighty River Power Limited (“Mighty River Power”). No money is currently being sought and no applications for shares will be accepted or money received until after an investment statement containing information about the offer of shares is available (the "Share Offer Document"). The Crown is seeking preliminary indications of interest. Registering an indication of interest will not involve an obligation of any kind. If you pre-register, you will be able to choose to either receive the Share Offer Document in hard copy or be sent an email notifying you that it is available online (or both). A full description of the potential allocation preference for New Zealanders who pre-register is available at www.mightyrivershares.govt.nz.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Digital Evolution: Scoop Independent News Launches "Operation Chrysalis"

From today Scoop is beginning a process of public consultation with the political, business and civil society groups it has served for the past 15 and a half years.

"It is hoped that in time - with new leadership and increased community engagement - the chrysalis will incubate a new kind of Scoop, one which can sustainably continue Scoop's Mission 'to be an agent of positive change'", says Scoop Founder, Editor and Publisher Alastair Thompson.

"As big publishing shrivels, public participation in contributing and spreading news has grown. Scoop has evolved with this wave by providing an independent platform, committed to upholding democracy, providing a voice to all, and providing the public easy access to information about decisions which affect them." More>>

 

Parliament Adjourns:

Greens: CAA Airport Door Report Conflicts With Brownlee’s Claims

The heavily redacted report into the incident shows conflicting versions of events as told by Gerry Brownlee and the Christchurch airport security staff. The report disputes Brownlee’s claim that he was allowed through, and states that he instead pushed his way through. More>>

ALSO:

TAIC: Final Report On Grounding Of MV Rena

Factors that directly contributed to the grounding included the crew:
- not following standard good practice for planning and executing the voyage
- not following standard good practice for navigation watchkeeping
- not following standard good practice when taking over control of the ship. More>>

ALSO:

Gordon Campbell:
On The Pakistan Schoolchildren Killings

The slaughter of the children in Pakistan is incomprehensibly awful. On the side, it has thrown a spotlight onto something that’s become a pop cultural meme. Fans of the Homeland TV series will be well aware of the collusion between sections of the Pakistan military/security establishment on one hand and sections of the Taliban of the other… More>>

ALSO:

Werewolf Satire:
The Politician’s Song

am a perfect picture of the modern politic-i-an:
I don’t precisely have a plan so much as an ambition;
‘Say what will sound most pleasant to the public’ is my main dictum:
And when in doubt attack someone who already is a victim More>>

ALSO:

Flight: Review Into Phillip Smith’s Escape Submitted To Government

The review follows an earlier operational review by the Department of Corrections and interim measures put in place by the Department shortly after prisoner Smith’s escape, and will inform the Government Inquiry currently underway. More>>

ALSO:

Intelligence: Inspector-General Accepts Apology For Leak Of Report

The Inspector-General of Intelligence and Security, Cheryl Gwyn, has accepted an unreserved apology from Hon Phil Goff MP for disclosing some of the contents of her recent Report into the Release of Information by the NZSIS in July and August 2011 to media prior to its publication. The Inspector-General will not take the matter any further. More>>

ALSO:

Drink: Alcohol Advertising Report Released

The report of the Ministerial Forum on Alcohol Advertising and Sponsorship has been released today, with Ministers noting that further work will be required on the feasibility and impact of the proposals. More>>

ALSO:

Other Report:

Leaked Cabinet Papers: Treasury Calls For Health Cuts

Leaked Cabinet papers that show that Government has been advised to cut the health budget by around $200 million is ringing alarm bells throughout the nursing and midwifery community. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news