25 Jun 2009
At the special meeting of Warrantholders held earlier today, the proposal to Warrantholders to alter the terms of the IFTWB Warrants was passed.
As a result, holders of IFTWBs now have three courses of action open to them (in addition to selling the IFTWB’s on the market):
• Do nothing and have the Warrants lapse.
• Pay $1.62 by Friday 10 July 2009 and receive an Infratil share which will rank equally with all other Infratil shares (including receiving the benefit of the 3.75cps dividend payable on 29 July 2009).
• Pay 55 cents by Friday 10 July 2009 and a further $1.12 before Friday 21 May 2010. Warrantholders who take this action will not receive an Infratil share until the second payment is made and consequently will not receive dividends until that occurs.
The forms for the exercise of the above options will be mailed to Warrantholders over the next few days and are available here as follows:
IFTWB Exercise Form can be downloaded here
IFTWB Warrant Instalment Exercise Form can be downloaded here
Once payment is made for the option and processed Warrantholders will receive an updated statement from Infratil’s share registrar, Link Market Services, showing the conversion from IFTWBs to either an ordinary share (if $1.62 exercise price is paid) or partly paid IFTWBs (if the 55 cent instalment payment is paid).
Warrants will be tradeable on the NZX until Tuesday 7 July 2009 in order to ensure sufficient time for IFTWB’s traded to settle the exercise price or the instalment payment due on 10 July 2009. Provided that the 55 cent instalment payment has been paid, the partly-paid Warrants will be quoted again on the NZX under the existing IFTWB code from Monday 13 July 2009, and can be traded, until Tuesday 18 May 2010.
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