HomeInfratil News2007Share & Warrant Split and Issue of New Warrants

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Share & Warrant Split and Issue of New Warrants

23 May 2007

As advised in Infratil's recent results announcement, Infratil is making some changes to its capital structure. These are:

1. A 1 for 1 share split with a Record Date of 7 June 2007.

2. A 1 for 1 existing warrant split with each existing warrant becoming two warrants and the Exercise Price per warrant reducing from $3.50 to $1.75. This also has a Record Date of 7 June 2007.

3. A 1 for 10 issue of new warrants to holders of shares and existing warrants. The Record Date is 8 June 2007. The exercise price for the new warrants is $4.25 (a post share split value). The new warrants can be exercised from (and including) 18 June 2007 to (and including) 29 June 2012.

By way of example a holder of 1,000 shares and 200 existing
warrants will, after the splits effective 7 June 2007, have
2,000 shares and 400 existing warrants. That holder will, after the issue effective 8 June 2007, receive 240 new warrants.

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