Participant
Technical Services
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AMO
Notice
On 1 November 2016 SpeedCast International Limited (ASX Code: SDA) (Company) announced a fully underwritten 2 for 3 accelerated renounceable entitlement offer of new shares (Entitlement Offer) to raise approximately $295 million at a price of $3.10 per new share for the acquisition of Harris CapRock.
The Entitlement Offer has the following two components:
An institutional entitlement offer, where offers have been made to qualifying institutional securityholders for them to apply for their entitlement (Institutional Entitlement Offer).
A retail entitlement offer, where offers will be made to qualifying retail securityholders for them to apply for their entitlement (Retail Entitlement Offer).
The anticipated timetable in relation to the Entitlement Offer is set out below:
Event |
Date |
Trading Halt commences |
Wednesday, 2 November 2016 |
Institutional Entitlement Offer Opens Institutional Entitlement Offer Closes Institutional Shortfall Bookbuild SpeedCast International Limited Recommence Trading |
Wednesday, 2 November 2016 Thursday, 3 November 2016 Thursday, 3 November 2016 Friday, 4 November 2016 |
Record date for Entitlement Offer (7.00pm, AEDT) |
Friday, 4 November 2016 |
Retail Entitlement Offer Opens Retail Offer Booklet, Entitlement and Acceptance Forms Despatched |
Wednesday, 9 November 2016
Wednesday, 9 November 2016 |
Settlement of New Shares Issued Under the Institutional Entitlement Offer Allotment and Commencement of Trading of New Shares under the Institutional Entitlement Offer |
Thursday, 10 November 2016
Friday, 11 November 2016 |
Retail Entitlement Offer closes (5:00pm, AEDT) |
Friday, 18 November 2016 |
Retail Shortfall Bookbuild Settlement of New Shares Issued Under the Retail Entitlement Offer |
Wednesday, 23 November 2016
Monday, 28 November 2016 |
Allotment of New Shares Issued Under the Retail Entitlement Offer Normal Trading of New Shares Issued Under the Retail Entitlement Offer Despatch of Holding Statements With Respect to Retail Entitlement Offer |
Tuesday, 29 November 2016
Wednesday, 30 November 2016
Wednesday, 30 November 2016 |
Settlement issues
Despite the fact that securities are trading ‘ex entitlement’ on ASX Trade, CHESS will not recognise for settlement purposes the ‘ex entitlement’ or the ‘cum entitlement’ tag on CHESS messages and CHESS will not maintain cum balances during the deemed ‘CHESS ex-period’, i.e. the period commencing on the deemed CHESS ex-date up to and including the record date. However, a record date cum balance will be available the business day following the record date, which will be equal to the registered holding balance at CHESS end of day on the record date. As a result any transfer that occurs prior to record date will be effectively transferred on a ‘cum entitlement’ basis.
Therefore, Participants must ensure that any transfer, including the priming of Broker Entrepot Accounts, is conducted in accordance with the basis of quote. For example, a transfer in relation to a transaction conducted on an ‘ex-entitlement’ basis should ordinarily only occur post record date.
CHESS will perform automatic diary adjustments to ‘cum entitlement’ settlement obligations outstanding as at the record date.
Trading issues
ASX will not price a ‘cum entitlement’ market with respect to trading in the Company’s securities. Persons who acquire the Company’s securities after the commencement of the trading halt on Wednesday 2 November 2016 are not entitled to participate in the Entitlement Offer.
What do I need to do by when?
For further details, please refer to the Company’s announcements on Tuesday, 1 November 2016 and Wednesday, 2 November 2016.
Need more information?
For further details, please refer to the Company’s announcements on Tuesday, 1 November 2016 and Wednesday, 2 November 2016
Issued by
John Johansson, Adviser, Listings Complaince
Contact information
John Johansson
+61 (3) 9617 8770
info@asx.com.au