Following completion of Shanghai Maling Aquarius Co., Ltd’s investment in Silver Fern Farms Limited and the distribution to the Co-operative of $57million from that process, the Board of the Co-operative has resolved to progress the redemption of the 5,371,732 Supplier Investment Shares issued by the Co-operative.
The Board’s intention to effect this redemption was referred to in the materials provided to shareholders calling the Special Meetings held on 16 October 2015 and 12 August 2016.
Following the redemption of the Supplier Investment Shares Silver Fern Farms Co-operative will have two share classes remaining, with holders of ordinary and rebate shares retaining their current shares. Ordinary shares are tradable on the Unlisted exchange.
Notices to shareholders holding Supplier Investment Shares have today been sent advising that their Supplier Investment Shares will be surrendered to the Co-operative and then redeemed and cancelled with effect on Friday 13 January 2017.
Shareholders can check their holding details currently held by the Company’s share registry, Link Market Services Limited at https://investorcentre.linkmarketservices.co.nz, though they do not need to take any action in order to surrender their Supplier Investment Shares to receive the redemption payment. The Co-operative will pay $1 for each Supplier Investment Share cancelled. Payment is expected to be made on Friday 13 January 2017.