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

 


Meridian share offer closes 5pm tomorrow

Hon Tony Ryall

Minister for State Owned Enterprises

17 October 2013       Media Statement       

Meridian share offer closes 5pm tomorrow

State-owned Enterprises Minister Tony Ryall has confirmed the retail offer component of the Meridian share offer will close tomorrow, Friday 18 October.

“New Zealanders who would like to apply to become Meridian shareholders must apply and pay their first instalment by 5pm tomorrow”, Mr Ryall says.

“As is the case during most share offers we are expecting many of the general offer applications will be submitted over the final 24 to 48 hours.

“It is important for applicants who are applying near the close of the offer to take care and follow the application instructions to ensure their application is eligible.

“Applicants who are applying online and paying via direct debit should confirm with their bank that online direct debit payments are possible from their chosen account.

“Applicants applying by post and paying by cheque are advised that cheques must be received by 5pm Friday.”

New Zealanders can apply online at www.meridianshares.govt.nz, and those who need assistance with their applications can call 0800 90 03 90.

“We are pleased with the interest from retail New Zealand investors to date,” Mr Ryall says.

“The institutional component of the Share Offer, where large institutions and fund managers bid for quantities of shares at various prices, known as a bookbuild, will occur from next Monday 21 October to Wednesday 23 October.

“As outlined in the Offer Document, following completion of the retail offer and the bookbuild, we expect to announce the final share price on the evening of Wednesday 23 October.

“New Zealanders are expected to be able to have their share allocations confirmed by Friday 25 October.

“Meridian is then expected to list on the NZX Main Board on Tuesday 29 October, with a secondary listing on the ASX to occur on the same day,” Mr Ryall said.

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

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

'Tea Break Bill' Passes: Gordon Campbell On Bad Labour Laws And Poor Safety

By co-incidence, one of the prime dangers of the government’s new employment relations law has been underlined by the release of the death and injury statistics among workers at New Zealand ports. These are highly profitable enterprises for the port owners.

The Port of Tauranga for instance, is expecting its current full-year profit to be between $78 million and $83 million and other ports are enjoying similar boom times – but they are also highly dangerous places for the people who work on or around the port premises. At the Port of Tauranga, there have been 26 serious accidents since 2011, and two deaths. More>>

 

Parliament Today:

No Charges: Outcome Of Operation Clover Investigation

Police have completed a multi-agency investigation, Operation Clover, into the activities of a group calling themselves “The Roast Busters”. The 12 month enquiry focused on incidents involving allegations of sexual offending against a number of girls in the Waitemata Police district and wider Auckland area... More>>

ALSO:

UNICEF Report: NZ Cautioned On "Stagnating" Child Poverty

An international report by UNICEF has found that child poverty rates in New Zealand have barely changed since 2008, despite similar sized countries significantly reducing child poverty during the recent recession. More>>

ALSO:

Funding Report: Two Pathways For Transport In Auckland

Commissioned by Auckland Council, the group was asked to investigate two possible pathways for raising $300 million per year ($12 billion over 30 years) to pay for the improvements needed to help fix Auckland’s transport system. More>>

ALSO:

Pay Equity: Equal Pay Win In Court Of Appeal

CTU: The Court of Appeal has made a historic decision paving the way for a substantial equal pay claim for aged care workers. More>>

ALSO:

Gordon Campbell: On The TPP Finishing Line, And Amazon’s Woes

If the Trans Pacific Partnership trade deal wasn’t such a serious matter, this would be pretty funny… More>>

ALSO:

TV3 Video: Three Die On Roads Over Labour Weekend

The official holiday period ended at 6am Tuesday, with three deaths on the roads during the Labour Day weekend. More>>

Employment Relations Bill: Govt Strains To Get Tea Break Law Through

The Government has been left with egg on its face - failing to get its much-vaunted, but hugely unpopular, meal break law passed in the first week of its new term, Labour spokesperson on Labour Issues Andrew Little says. More>>

ALSO:

Guns: Police Association Call To Arm Police Full Time

"The new minister gave his view, that Police do not need to be armed, while standing on the forecourt of parliament. The dark irony was that the interview followed immediately after breaking news of a gunman running amok in the Canadian parliament in Ottawa..." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news