CHAIRMAN'S OUTLOOK (2 July 2009) |
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The Company has a Replacement OIS before Members and market investors. The situation with respect to the Offer is that -
- Nearly 55% of all shareholders voted on 22 June 2009 to confirm the Company could proceed to issue redeemable preference shares (Resolution 1)
- By Resolution 2, that same day the shareholders voted for the following -
- "in the event that the Issue is not fully subscribed, each member shall be entitled to apply for additional Preference Shares......."
- "any related party (defined) may (also) apply......"
- "unissued Preference shares remaining may be placed with members of the public making application prior to the new closing date of 22 July 2009."
The applications accounted for (excluding related parties) as at 30 June 2009 totalled 194. There is thus a shortfall, and all members will shortly be advised of their rights as described above.
Members of the public have been advised of the opportunity before them by the Announcement to NSX made 2 July 2009. Click here to view that Announcement
Fred Hunt
Chairman
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Previous Chairman's Outlooks
16 June 2009
25 May 2009
15 May 2009
28 April 2009
22 April 2009