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22 Jun 2011 07:00
GUINNESS PEAT GROUP PLC
ANNOUNCEMENT IN RELATION TO SCHEME OF ARRANGEMENT
As set out in the circular sent to shareholders dated 12 May 2011 (the "Scheme Circular"), in order to implement its scheme of arrangement under part 26 of the Companies Act 2006 and a Reduction of Capital (as defined in the Scheme Circular) as approved by shareholders on 8 June 2011, Guinness Peat Group plc ("GPG") announces that there will be a temporary suspension of listing and trading in its ordinary shares and CHESS Depository Interests ("CDIs") as detailed below.
In order to accommodate the different market practices of the London Stock Exchange ("LSE"), Australian Securities Exchange ("ASX") and the main board equity market of NZX Limited ("NZSX"), being those markets on which GPG's shares or CDIs are quoted, the timetable for the temporary suspension of listing and trading in all three jurisdictions will be as follows*:
Trading in securities suspended on LSE | Tuesday | 28 June 2011 (from 6 p.m. London time) |
Trading in securities halted on NZSX | Wednesday | 29 June 2011 (from market open for securities quoted on the NZSX) |
CDIs suspended on ASX | Thursday | 30 June 2011 (8 a.m. Sydney time) |
Court hearing to sanction the Scheme** | Friday | 1 July 2011 |
Scheme Record Time** | Friday | 1 July 2011 (6 p.m. London time) |
Lodgement of Court Order sanctioning the Scheme and Effective Time of the Scheme** | Monday | 4 July 2011 |
Court hearing to confirm the Reduction of Capital** | Monday | 4 July 2011 |
Lodgement of Court Order confirming the Reduction of Capital and Operative Date for the Reduction of Capital** | Tuesday | 5 July 2011 |
Securities resume trading on LSE and NZSX (CDIs remain suspended on ASX) | Wednesday | 6 July 2011 (from market open for securities quoted on the NZSX and from 8 a.m. London time for securities listed on the LSE) |
Deferred settlement trading in CDIs begins on ASX | Thursday | 7 July 2011 (10 a.m. Sydney time) |
Record date for CDIs on ASX | Wednesday | 13 July 2011 |
Latest date for despatch of consideration ** | Tuesday | 19 July 2011 |
Despatch holding statements and deferred settlement trading ends on ASX | Wednesday | 20 July 2011 |
Normal trading in CDIs resumes on ASX | Thursday | 21 July 2011 |
Notes
* Actions are relevant to all three exchanges on the date and in each local time zone unless otherwise indicated. References to defined terms in this announcement shall have the same meaning as those given to them in the Scheme Circular unless otherwise indicated.
** Dates and times are indicative only and will depend, amongst other things, on the date and time on which the Court sanctions the Scheme and confirms the Reduction of Capital and the date on which the Court Orders are delivered to the Registrar of Companies. If there are any revisions to the timetable, GPG will make an appropriate announcement as soon as practicable.
Enquiry details are: | ||
New Zealand media: |
Geoff Senescall on: |
+64 9 309 5659 |
Australian media: |
Andrew Stokes on: |
+61 2 8298 6100 |
UK media: |
Kevin Smith on: |
+44 20 7282 1054 |
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Chris Healy
Company Secretary
Guinness Peat Group plc
Tel: +44 20 7484 3370
22 June 2011
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