Hon Tony Ryall

Minister for State Owned Enterprises

13 October 2013

Media Statement 

Five days remaining in Meridian Share Offer

New Zealanders have just five days remaining to apply to become shareholders in Meridian Energy, the country’s largest electricity generator, Minister for State Owned Enterprises Tony Ryall says.

“To apply for shares New Zealanders must ensure their application and payment are received either online or by post by 5pm this Friday, 18 October,” Mr Ryall says.

“People need to provide an IRD number, a valid New Zealand bank account and address, and a declaration they are a New Zealander.”

New Zealanders considering an investment in Meridian are urged to read the offer document which is available at www.meridianshares.govt.nz or a hard copy can be ordered by phoning 0800 90 30 90.

“We are pleased with the interest in Meridian shares from New Zealand retail investors to date.

“Advice from our financial advisers, supported by commentary from the New Zealand Shareholders Association, is that the retail price cap, which we set at $1.60 per share for New Zealanders, is providing a greater level of price certainty and retail investment confidence.

“$565 million worth of shares were pre-allocated to New Zealand brokers through the broker firm process. Broker clients who have been unable to secure broker firm shares, or who would like a higher allocation, can apply through the General Offer.

“The share offer is part of a wider Government programme to control debt and invest proceeds in important infrastructure like Christchurch Hospital.

“We remain committed to widespread New Zealand ownership and putting New Zealanders at the front of the queue for shares. But there are now only five days remaining for New Zealanders to join that queue,” says Mr Ryall.

The offer of shares in Meridian Energy Limited (“Meridian”) is made by the Crown on the terms and conditions set out in a combined investment statement and prospectus dated 20 September 2013, as amended on 27 September 2013 (the "Offer Document"). Applications for shares must be made on the application form accompanying the Offer Document. 

An application has been made to NZX Limited ("NZX") for permission to list Meridian, and to quote initially the instalment receipts and then later Meridian's shares on the NZX Main Board and all requirements of NZX relating thereto that can be complied with on or before the date of this document have been duly complied with. However, NZX accepts no responsibility for any statement in this document. The NZX Main Board is a registered market operated by NZX, which is a registered exchange, regulated under the Securities Markets Act 1988.

Meridian's shares and the instalment receipts have not been and will not be registered under the United States Securities Act of 1933 (the "United States Securities Act") or the securities laws of any state of the United States and may not be offered or sold in the United States except in accordance with an exemption from, or in a transaction not subject to, the registration requirements of the United States Securities Act and any applicable state securities laws.

ENDS

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