Participant
Technical Services
Credential Services
Listed Company
Professional Adviser
Information Provider
Information Services
AMO
Notice
On 26 June 2017, Link Administration Holdings Limited (Company) (ASX Code: LNK) announced a 4 for 11 fully underwritten accelerated renounceable pro-rata entitlement offer of new ordinary shares fully paid in the Company at an issue price of $6.75 per new share to raise approximately $883 million (Entitlement Offer).
The Entitlement Offer has the following two components:
an accelerated institutional offer, where offers have been made to eligible institutional holders of the Company’s ordinary shares for them to apply for their pro-rata entitlement (Institutional Entitlement Offer); and
a retail entitlement offer, where offers will be made to eligible retail holders of the Company’s ordinary shares for them to apply for their pro‑rata entitlement (Retail Entitlement Offer).
Rights trading of retail entitlements only is expected to commence on Thursday, 29 June 2017 and end on Monday, 10 July 2017.
Each new share issued under the Entitlement Offer will rank equally in all respects with existing ordinary shares.
The anticipated timetable in relation to the Entitlement Offer is set out below.
Date |
Event |
Monday, 26 June 2017 |
Trading Halt commences Announcement of Entitlement Offer Institutional Entitlement Offer opens |
Tuesday, 27 June 2017 |
Institutional Entitlement Offer closes |
Wednesday, 28 June 2017 |
Institutional shortfall bookbuild
|
Thursday, 29 June 2017 |
Announcement of results of Institutional Entitlement Offer Trading halt lifted Trading in existing ordinary shares resumes on an ex-entitlement basis (ASX Code: LNK) Record Date for Entitlement Offer Rights trading of retail entitlements commences on a deferred settlement basis (ASX Code: LNKR) |
Wednesday, 5 July 2017 |
Retail Entitlement Offer opens Retail Offer Booklet dispatched and retail entitlements issued |
Thursday, 6 July 2017 |
Rights trading of retail entitlements commences on a normal settlement basis (ASX Code: LNKR) Settlement of Institutional Entitlement Offer |
Friday, 7 July 2017 |
Issue and normal trading of new shares under the Institutional Entitlement Offer |
Monday, 10 July 2017 |
Last day of rights trading in retail entitlements (ASX Code: LNKR) |
Tuesday, 11 July 2017 |
New shares under the Retail Entitlement Offer commence trading on a deferred settlement basis (ASX Code: LNKN) |
Monday, 17 July 2017 |
Retail Entitlement Offer closes |
Thursday, 20 July 2017 |
Announcement of results of Retail Entitlement Offer Retail shortfall bookbuild |
Tuesday 25 July 2017 |
Settlement of Retail Entitlement Offer |
Wednesday, 26 July 2017 |
Issue of new shares under the Retail Entitlement Offer Last day of deferred settlement trading in Retail Entitlement Offer shares (ASX Code: LNKN) |
Thursday, 27 July 2017 |
Normal trading of new shares issued under the Retail Entitlement Offer (ASX Code: LNK) |
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 Monday, 26 June 2017 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.
Need more information?
For further information, please call the Link Group Offer Information Line on 1300 934 599 (within Australia) or +61 1300 934 599 (outside Australia) between 8.30am to 5.30pm AEST Monday to Friday.
Issued by
George Tharian
Adviser, ASX Listings Compliance (Sydney)
Contact information
George Tharian
+61 (02) 9227 0000
info@asx.com.au