BRM - BROKER HANDLING FEE ON BARRAMUNDI WARRANTS

Friday 13th September 2024

Barramundi Limited (“Barramundi” or “the company”) would like to advise brokers that it offers a broker handling fee in respect of the exercise of Barramundi warrants (“BRMWH”).

The exercise date is 25 October 2024, and the exercise price is $0.63.

Barramundi recognises there is an administration cost and time involved in the warrant exercise process for brokers and, as such, pays brokers 0.4% of the total consideration payable for warrants exercised per beneficial holder.

The company would also like to remind brokers that it has a long-term quarterly dividend policy whereby it pays 2% of average net asset value each quarter. All shares allotted upon the exercise of warrants on 25 October 2024 will be eligible for all future dividend payments, from December 2024 onwards.

Yours sincerely

On behalf of the Board,

Wayne Burns

Corporate Manager

Barramundi Limited

Process:

If an NZX adviser firm recommends the exercise of Barramundi warrants and the holder agrees to exercise their warrants, the adviser will:

1. For individual clients (who are registered holders of warrants), request that they complete an online exercise form and direct credit funds into adviser firm bank account. (The NZX adviser firm will instruct the client input the adviser firms name when completing the online exercise form).

2. For clients in a custodial/nominee account, collate and summarise the information on clients electing to exercise their warrants through the adviser firm’s internal processes and complete the required online exercise forms, including the input of the NZX adviser firm’s name.

3. Advisers can arrange with Computershare to direct credit funds to the Computershare bank account using a unique deposit reference.

4. Computershare will process the warrant exercise forms and payments and allot shares following close-off within three business days after the exercise date.

5. Computershare will record the brokerage entitlement from the online exercise forms.

6. Following approval by Barramundi, total broker fees payable will be credited to Computershare’s bank account. Computershare will pay the fee to the adviser firm’s head office. A brokerage calculation report will be provided with remittance of payment advice (usually paid by direct credit) which shows adviser code and address, underlying registered holder application acceptance detail and brokerage calculated. Fee payments are expected to take place around 10 working days following receipt of the signed broker report.

7. Any queries relating to the remittance of broker handling fees are to be directed to Computershare. If the coding as processed by Computershare is correct (i.e., matches the exercise forms), they will not enter into any disputes that may arise with adviser firms.

Broker Handling Fee on BRMWH Warrants

Comments from our readers

No comments yet