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Notice
This Notice is being issued to provide Participants with further information in relation to the bid and details the acceptance process through CHESS.
Commonwealth Bank of Australia is offering eligible holders of CommBank PERLS VI Capital Notes (“CBAPC”) the opportunity to reinvest their CBAPC in the CommBank PERLS XI Capital Notes Offer (“PERLS XI”, “CBAPH”).
As part of the PERLS XI Offer, Eligible CBAPC Holders (as defined below) have the opportunity to automatically invest their CBAPC in the PERLS XI Offer (“Reinvestment Offer”). Eligible CBAPC Holders who elect to participate in the Reinvestment Offer will have their CBAPC purchased on-market by Commonwealth Bank of Australia, with the proceeds automatically invested in PERLS XI such that they will receive one PERLS XI per CBAPC on 17 December 2018.
Further information on CommBank’s invitation to Eligible CBAPC Holders is contained in the CommBank PERLS XI Capital Notes Prospectus.
What do I need to do by when?
Bid Details:
Bidder: |
Commonwealth Bank of Australia |
|---|---|
UIC: |
11538 |
Registry/Agent: |
Link Market Services Limited |
ASX Code: |
CBAPC |
Syndicate Broker Offer Acceptance Codes: |
Reinvestment Offer of CBAPC – via a Syndicate Broker The following offer acceptance codes should only be used by Syndicate Brokers under the Broker Firm Offer. Other brokers or participants who have accepted an allocation from a Syndicate Broker under Broker Firm should contact that Syndicate Broker for instructions on which code should be used. Any securities entered using these acceptance codes will need to be validated and verified by the relevant Syndicate Broker or Sponsoring Broker against whose broker firm allocation the CBAPC Reinvestment Offer is being claimed/nominated. Syndicate Brokers should refer to the Broker Settlement instruction manual which can be obtained from the Joint Lead Managers or Link Market Services Limited for further information. CBA001 – Commonwealth Bank of Australia CBA002 – ANZ Securities Limited CBA003 – Morgan Stanley Australia Securities Limited CBA004 – Morgans Financial Limited CBA005 – Westpac Institutional Bank CBA006 – BT Financial Group CBA007 – Bell Potter Securities Limited CBA008 – Crestone Wealth Management Limited CBA009 – Evans and Partners Pty Limited CBA010 – Macquarie Equities Limited CBA011 – Ord Minnett CBA012 – Reinvestment Applications CBA013 – Institutional CBA014 – National Australia Bank Limited CBA015 – JBWere CBA016 – Shaw and Partners Limited |
Offer Terms:
Offer Open Date: |
09 November 2018 |
|---|---|
Offer Close Date: |
5:00pm (Sydney time) on Wednesday, 5 December 2018 (unless extended or withdrawn) |
CHESS will process offer acceptance messages until 5:00pm (Sydney time) on Wednesday, 5 December 2018, or in the event that the offer is extended, such other times as may be notified by Commonwealth Bank of Australia to the market.
For further information regarding the offer please contact the PERLS XI Information Line (Monday to Friday, 8:00am to 7:30pm, Sydney time) on 1800 132 009.
Need more information?
Issued by
Chris Mitchell, Officer, Post Trade Operations
Contact information
Chris Mitchell
1800 623 571
cad@asx.com.au
General Information
Participants should refer to Section 13 of the CHESS Procedure Guidelines for Participants and Section 14 of the ASX Settlement Operating Rules for further information concerning the processing of Takeover Acceptance Messages for a CHESS Holding of securities. Some of these issues are summarised below.
- A Participant must initiate acceptance of an offer by transmission of an EIS type ‘031’ message (Takeover Acceptance) where the securities in question are held in a CHESS Holding. The Participant will receive a ‘032’ message (Effected Takeover Acceptance) from CHESS in response.
- In addition to the electronic notification to the Participant, paper notification will be sent directly to the Holder as securities are reserved in an offer-accepted subposition. Any change to the balance of securities in subposition will generate further electronic advice to the Participant and paper advice to the Holder.
- Where a Participant receives instructions from a Sponsored Holder, the Participant is required under the ASX Settlement Operating Rules to initiate acceptance of an offer:
- if the Holder specifies the time when or by which the offer must be accepted, in accordance with those instructions; otherwise
- by End of Day on the date of receipt of instructions from the Holder. Where the offer closes on the date of receipt of instructions then prior to the close of the offer.
Participants should therefore retain, as a minimum, a record of the date on which instructions to accept an offer are received from a Sponsored Holder.