Brierley Investments - Re Share Buyback etc..
November 01 1999 - 8:44AM
UK Regulatory
RNS Number:0385A
Brierley Investments Limited
1 November 1999
In accordance with I.R 7.12.1 of the Listing Rules, details of the buyback and
the issue and allotment of the capital notes are:
Buyback of ordinary shares in BIL:
(a) Class of Security and ISIN: ordinary shares in BIL, ISIN no.
NZBRYEOOO1F7
(b) Number acquired: 149,167,393
(c) Acquisition price: NZ$0.55 per share
(d) Consideration: transfer of capital notes issued by BILF
(e) Amount paid up: in full
(f) Percentage of ordinary shares
acquired: 5.1%
(g) Reason for the acquisition: Acceptances received under share buyback
offer and offer of capital notes dated
5 October 1999
(h) Specific authority for
acquisition: Resolution of the board of BIL on
7 September 1999
(i) Terms or details of
acquisition: As per prospectus and investment statement
of BIL and BILF dated 5 October 1999
j) Total number of ordinary
shares on issue after
acquisition: 2,760,476,563
(k) The ordinary shares acquired will be cancelled and not held as treasury
stock.
(1) Date of acquisition: 29 October 1999
Transfer and allotment of Capital Notes by BIL Finance Limited:
(a) Class of Securities and ISIN. Capital notes issued by BILF on the terms
and conditions set out in the prospectus and
investment statement of BIL and BILF dated
5 October 1999
(b) Issue Price: $82,042,066 (subject to minor rounding in
accordance with the offer of capital notes)
(c) Consideration: Cash
(d) Amount paid up: in full
(e) Percentage issued: 17.64%
(as against all other capital notes on issue)
(f) Reason for the issue: Acceptances received under share buyback
offer and offer of capital notes dated 5
October 1999
(g) Specific authority for issue: Board resolution of BILF on 7 September
1999
(h) Terms or details of issue: As per prospectus and investment statement
of BIL and BILF dated 5 October 1999
(i) Total number of capital $547,207,066 (subject to minor rounding in
notes on issue: accordance with the offer of capital notes)
(j) Date of issue: 1 November 1999
BIL Capital Notes Programme Completed
Brierley Investments Limited today announced the completion (as at 5.00pm NZT 29
October 1999) of its share buyback/capital notes programme.
149,167,393 ordinary shares from 9,420 shareholders were bought back under the
programme. Including the 75.6 million shares bought back (as at 29 October
1999), through the on market buyback, BIL has now acquired 224.8 million of its
shares, representing 7.5 percent of the ordinary shares on issue.
BIL Chairman, Sir Selwyn Cushing said, "We are pleased with the response to the
capital notes programme. The programme was undertaken because the Board
recognised that many shareholders had invested in BIL for the yield that had
historically been available on the Company's ordinary shares. Eligible
shareholders have had the opportunity to choose whether they retained their
exposure to BIL as a capital noteholder or a shareholder.
"More than 9,000 shareholders chose to invest in the capital notes in order to
take advantage of the attractive yield on offer, while the balance have chosen
to remain investors in the ordinary shares.
"The capital notes programme, together with the on market buyback programme, has
also theoretically improved BIL's net asset backing as we have bought back
shares at a substantial discount to the net worth of the Company."
For further information please contact:
Mr Mike Drogemuller
Group Communications Manager
Brierley Investments Limited
Tel: 04 470 8828
END
POSCCDCQKDDDBDK
Blackthorn (LSE:BRL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Blackthorn (LSE:BRL)
Historical Stock Chart
From Jul 2023 to Jul 2024