What do I need to do by when?

Bid Details:

Offer Terms:

This off-market buy-back (Buy-Back) was announced on Monday, 1 November 2021. Amendments to the Buy-Back terms and a revised Buy-Back timetable were announced on Friday, 10 December 2021. Refer to the Original Booklet and Supplementary Booklet on www.westpac.com.au/buyback for further information about the Buy-Back.

CHESS will process offer acceptance messages until 7:00pm (Sydney time) on 11 February 2022, or in the event that the offer is extended, such other times as may be notified by WBC to the market.

Eligible Shareholders who have already validly tendered into the buy-back will have their existing applications honoured, but also have an opportunity to amend or withdraw any application prior to the new closing date.

For more information, please see the Original Booklet and Supplementary Booklet. Alternatively, if you have any questions in relation to the Offer, please contact the Westpac Buy-Back Information Line on 1800 804 255 (free call in Australia) or +61 1800 804 255 (outside Australia) (Monday to Friday, 8:30am to 7:30pm, Sydney time, except for public holidays) or 0800 002 727 (free call in New Zealand) (Monday to Friday, 9:00am to 5:30pm, New Zealand time, except for public holidays).

Application Forms submitted directly by the shareholder

Controlling participants should be aware that Eligible Shareholders are able to submit an Application Form online or submit a paper Application Form directly. The Westpac Share Registry will need to confirm with the controlling CHESS participant any online or paper submission of shareholders Application Forms before it can be taken as validly submitted.

·         The Westpac Share Registry will relay the shareholder’s offer to the controlling participant by the end of the business day that the Application Form is submitted. 

·         The controlling participant is required to acknowledge the offer by the end of the following business day.

Any Buy-Back offer CHESS messages initiated by the Westpac Share Registry which have not been acknowledged by a shareholder’s controlling participant by 7.00pm (Sydney time) on Friday, 11 February 2022 (Closing Date) will be rejected, and those offers will not be included in the Buy-Back. Neither Westpac nor the Westpac Share Registry will be responsible should the controlling participant not acknowledge and confirm an offer in sufficient time.

Bank account details:

The payment method will be in direct credit only to the AUD or NZD bank account on the Westpac shareholding. Controlling participants who submit an offer directly on CHESS to the Westpac Share Registry on behalf of a shareholder must ensure that the bank account details are also recorded or updated against the shareholding.

Need more information?

Issued by

Anjita Sharma, Equity Operations

Contact information

Anjita Sharma
1800 814 051
chesshelp@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 & Takeover Acceptance Removal Request Messages for a CHESS holding of securities. Some of these issues are summarised below.

A Participant must submit acceptance of an offer by transmission of an EIS type ‘031’ message (Takeover Acceptance Message) where the securities in question are held in a CHESS Holding. The Participant will receive a ‘032’ message (Effected Takeover Acceptance Message) 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 the subposition will generate further electronic notification to the Participant and paper notification to the Holder.  

Where a Participant receives instructions from a Sponsored Holder, the Participant is required under the ASX Settlement Operating Rules to submit an acceptance as follows:

If the Holder specifies the time when or by which the offer must be submitted, 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 is received from a Sponsored Holder.

If Securities in a CHESS holding have been reserved by ASX in an offer accepted subposition, a release of the Securities from that subposition may be initiated by a Valid Originating Message if the Holder of the Securities to which the tender relates is legally entitled.

A Participant must initiate removal of a Takeover Acceptance Message by transmission of an EIS type ‘085’ message (Takeover Removal Request Message) where the securities in question are held in a CHESS Holding. The Participant will receive a ‘086’ message (Acceptance Removal Request Message) from CHESS in response.       

In addition to the electronic notification to the Participant, paper notification will be sent directly to the Holder as securities have been removed from an offer-accepted subposition. Any change to the balance of securities in the subposition will generate further electronic advice to the Participant and paper advice to the Holder.

Participants should therefore retain, as a minimum, a record of the date on which instructions to withdraw Securities are received from a Sponsored Holder.

Disclaimer