Monday 2nd May 2011 |
Text too small? |
Pyne Gould Corporation has confirmed the date for a shareholders' meeting to vote on a special resolution allowing the distribution of the company's 72.2% stake in Building Society Holdings (BSH).
The meeting is to be held on May 18, with shareholder materials expected to be mailed out today.
Pyne Gould also said today it and BSH had submitted for registration the prospectus for distribution of the shares.
Under the proposal, 216.6 million BSH shares will be distributed pro rata amongst PGC shareholders, with each Pyne Gould shareholder to receive about 268 BSH shares for every 1000 Pyne Gould shares.
At the same time, about 73.2% of the Pyne Gould shares held by each Pyne Gould shareholder will be cancelled.
Following the distribution and cancellation, a Pyne Gould shareholder will hold about 268 BSH shares and 268 Pyne Gould shares for every 1000 Pyne Gould shares held beforehand.
NZPA
No comments yet
EBOS announces appointment of new Chief Financial Officer
AM Best affirms Tower Limited's A- (Excellent) FSR
MCK enters into conditional agreement for Whangarei land
April 26th Morning Report
SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness
General Capital Subsidiary General Finance Market Update
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills