Wellington-headquartered NGC today said the cancellation, of over 332 million shares, had reduced its total issued shares from 774,895,590 to 442,788,722.
Shareholders will receive a total of $NZ524.7 million, based on shareholdings as at the November 28 record date and the payment of $NZ1.58 per cancelled share. This will be paid this Thursday, December 4.
NGC also announced that its separate issue of fixed interest bonds closed fully subscribed at $NZ200 million on Friday. It is intended the bonds, which carry an interest rate of 6.81% and mature in March 2009, will be issued and listed on the New Zealand Exchange also on Thursday.
