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

 

PARLIAMENT TODAY:

Flyover Over: NZTA Not Appealing Flyover Decision

The NZ Transport Agency has decided not to appeal the High Court’s Basin Bridge decision, and says the High Court’s findings provide valuable clarity to help guide the development of future infrastructure projects throughout the country. More>>

ALSO:

Developing Crown Land: Government, Auckland Iwi Reach Agreement

The government has reached agreement with Ngati Whatua and other Auckland iwi over developing 500 hectares of excess land in Auckland for private housing which had been under High Court challenge. More>>

ALSO:

Gordon Campbell: On Maurice Williamson

Maurice Williamson seems to have been granted an annual licence to embarrass the National Party, and its that time of year again. Also as per usual, Williamson’s recent exercise in sexism and homophobia has passed by with barely a murmur from his leader. More>>

ALSO:

Green Climate Plan: Shaw Launches 40% Emission Cut Target

Green Party co-leader James Shaw has announced an emissions target initiative for 40% reduction by 2030. He said agriculture has to long been used as a reason for inaction, a roadblock to action... He proposed a tax of 8 cents per kilo of milk. More>>

ALSO:


Images & Video: Four Alternative Flags For Referendum

Flag Consideration Panel chair, Professor John Burrows, said the Panel’s decision had been guided first and foremost by the results of its engagement programme across a range of communities where thousands of Kiwis shared what was special about New Zealand, as well as the Panel’s own selection criteria. More>>

ALSO:

Transport Report: LGNZ Calls For Proactive Approach To Mobilise Regions

LGNZ has today released Mobilising the Regions, its major transport study, which highlights the economic and social impact of strategic transport decisions nationally and in the regions, and the direct link between regional development, national prosperity, social well-being and cohesiveness. More>>

ALSO:

Transport: New Rules Bring Double-Deckers To Our Cities

New rules that allow buses, including double-deckers, to carry more people will ramp up the public transport offering in our cities, Transport Minister Simon Bridges and Associate Transport Minister Craig Foss say. More>>

ALSO:

Cycling:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news