Published 12 November 2005
Trans Tasman Properties Ltd has set the terms for its shareholders to take up the offer of shares in a new company, Asian Growth Properties Ltd.
Record date for the proposal is Friday 25 November. Shareholders on record at that date will get:
an offer document comprising a combined prospectus & investment statement, and
a notice of special meeting, including an explanatory memorandum.
They will be able to convert either 48.75% or 75% of their existing Trans Tasman shares into Asian Growth shares at a ratio of 1 AGP:2 TTP, with 2 Trans Tasman shares cancelled. The higher conversion offer will depend on the outcome of resolutions to approve the offer for 75% of a shareholder’s shares as a major transaction.Settlement date will be Friday 13 January. Asian Growth will be listed on the London Stock Exchange’s AIM (alternative investment market).
5 November 2005: SEA will keep majority in both Trans Tasman companies
23 October 2005: Trans Tasman sets course for Asian split
29 September 2005: Trans Tasman proposes splitting Asian assets into new company