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

 

Rubicon announces details of share buy-back


MEDIA RELEASE


Rubicon announces details of share buy-back and small shareholdings programme


Auckland, 13 July 2001 - Rubicon today released details of the $60 million share buy-back announced last month, and also outlined terms of a small shareholdings programme.

The Chief Executive Officer of Rubicon Limited, Mr Luke Moriarty, said, “The Company will effect the buyback by purchasing up to 95 million Rubicon shares “on-market” on the New Zealand Stock Exchange (NZSE). A Disclosure Document outlining the details of the buyback has been sent to all shareholders today. Under the Companies Act, the buyback cannot commence until 10 working days following the despatch of the Disclosure Document to shareholders – which means that Monday 30 July 2001 is the earliest date we could start buying back Rubicon shares. We have today given the NZSE notice that the offer will open on that day, which means that Rubicon can acquire shares at any time after Monday 30 July 2001. The Company can hold the offer open for up to 12 months from the date of this notice to the NZSE.”

Rubicon also announced a small shareholdings programme, open until 30 November 2001, whereby shareholders holding less than 500 shares (the minimum holding under the NZSE listing rules) who wish to dispose of their Rubicon shares, will be able to do so without incurring brokerage fees. A letter outlining the terms of the programme has, today, been sent to all shareholders holding less than 500 shares.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


International Business Forum: NZ EU FTA Coming Down To The Wire – Hold The Line

As negotiations accelerate to conclude an ambitious free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), representing a cross section of major exporters... More>>


MBIE: NZ space sector set to star in Moon mission
The New Zealand space sector is set to star in NASA’s CAPSTONE moon mission – with Rocket Lab launching a satellite to the Moon from New Zealand in June, and the lift-off of a separate NASA-NZ lunar research project... More>>



Air New Zealand: Relaunching 14 International Routes In 16 Days

Air New Zealand is gearing up for the busiest July in two years with the relaunch of 14 international routes in 16 days... More>>


Carbonz: Cashing In On Carbon: The New Marketplace Helping Native Forest To Thrive

The country’s first voluntary carbon credit marketplace, Carbonz, is here to restore native biodiversity and help Aotearoa reach its carbon zero goals by selling the first carbon credits exclusively from native forest... More>>
Entrust District: Dividend Will Be Welcomed After Another Tough Year
We’ve all heard of the saying; “if it sounds too good to be true, it probably is” but for Aucklanders within the Entrust District, getting their share of Entrust’s 2022 annual dividend payment really is as good as it sounds... More>>

BusinessNZ: NZ Economy - Prevailing Headwinds
The latest BusinessNZ Planning Forecast reveals business and consumer confidence is low, with factors at home and abroad hampering our recovery... More>>