It is anticipated that GTN Limited (Company) will be admitted to the official list of ASX Limited (ASX) on the morning of Wednesday, 1 June 2016.

Official quotation of the Company’s shares is expected to commence at 12:00pm AEST on Wednesday, 1 June 2016 on a conditional and deferred settlement basis. The Company is expected to raise approximately $187.9 million pursuant to the offer under a prospectus dated 12 May 2016 issued by the Company and William Yde III (Prospectus) by issue of approximately 97.4 million new ordinary shares and the transfer of approximately 1.5 million existing ordinary shares at an issue and sale price of $1.90 per share

CONDITIONAL AND DEFERRED SETTLEMENT TRADING

The Company has requested that a conditional trading market be provided pursuant to ASX Operating Rule 3330.  The conditions for the conditional market specified by the Company are (i) the Restructure has been completed (as defined in the Prospectus); and (ii) the Company has issued new shares and the Management Shareholder has transferred existing shares to successful applicants under the offer.

In accordance with ASX Operating Rule 3330, ASX has agreed to provide a conditional market in the Company’s shares. The Company's shares will be placed in pre-open at 8:30am AEST on Wednesday, 1 June 2016 and trading will commence on a conditional and deferred settlement basis at 12:00pm AEST on Wednesday, 1 June 2016.

The letters "CT" will be displayed in the Basis of Quotation field of ASX Trade to facilitate identification of the Company’s shares trading on a conditional basis. Market Participants should note that because no Special Market has been created within ASX Trade, Signal B trade messages will not contain explicit Conditional Trading Basis of Quotation. This information will be identified in the Daily Diary and ReferencePoint Master List.

The Company is required to advise ASX immediately of the fulfilment or non-fulfilment of the conditions for the conditional market. Notification as to when trading will become unconditional will be made in accordance with the ASX Operating Rules. The market will be advised by ASX market release when the conditions of the conditional market have been met and when the stock will commence trading on an unconditional basis. The market will not be purged.

In the case of fulfilment of the conditions, ASX will issue a further Notice to participants confirming trading arrangements and the date holding statements will be sent to successful applicants. At this stage, the conditions for the conditional market are expected to be met by on Monday, 6 June 2016. The Company has agreed to send holding statements on Tuesday, 7 June 2016, which will mean that the first settlement date will be Friday, 10 June 2016.

CONTRACT NOTES FOR CONDITIONAL SALES AND PURCHASES

While it is the Participant’s responsibility to obtain their own advice concerning the appropriate words that should appear on a contract note for a conditional sale or purchase, the endorsement suggested below may be considered for contract notes for conditional transactions in the Company's shares.

"This contract is conditional upon notification being received by ASX by close of business on Wednesday, 15 June 2016 that the conditions for the conditional market have been fulfilled.  If the conditions are not fulfilled, this contract shall be cancelled without any liability whatsoever other than for the return of any money paid in connection with the settlement of the contract."

Advice should also be provided to clients to ensure that they understand the full ramifications of Conditional Trading.

INDICATIVE KEY DATES

This timetable has been prepared on the basis that the conditions for the conditional market are expected to be satisfied on Monday, 6 June 2016. If the conditions are not fulfilled by the close of business on Wednesday, 15 June 2016, shares will not be issued and all conditional trades that have occurred since Wednesday, 1 June 2016 will be cancelled.

If the conditions are not satisfied on Monday, 6 June 2016, but are satisfied prior to the close of business on Wednesday, 15 June 2016, the dates in the timetable will be revised and a new timetable will be released to the market.

What do I need to do by when?

For further details, please refer to the Company’s prospectus please call the offer information line on 1800 095 654 (within Australia) or on +61 1800 095 654 (from outside Australia) between 8.30am and 5.30pm AEST Monday to Friday (Sydney time). 

Need more information?

Issued by

Andrew Black, Manager Listings Compliance (Sydney)

Contact information

Andrew Black
+61 (02)  9227 0000
info@asx.com.au

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