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Aotearoa Fisheries announces a special bonus share issue

Published: Thu 22 Nov 2012 12:56 PM
Media release from Aotearoa Fisheries Ltd
Aotearoa Fisheries Limited announces a special bonus share issue
The mission of Aotearoa Fisheries Limited is to maximise the value of Māori fisheries assets and to deliver growth in shareholder wealth to Iwi. Aotearoa Fisheries Limited is one of New Zealand’s largest fishing companies and is owned by all Māori.
Today Directors of Aotearoa Fisheries Limited, have announced that they will be making a special taxable bonus share issue to shareholders.
Aotearoa Fisheries will issue a total of $141 million of new shares to shareholders in proportion to their existing shareholding.
Aotearoa Fisheries is making the bonus share issue to unlock tax credits of $30 million available within the Group, which also encompasses Sealord Group Limited. By making the bonus share issue, Aotearoa Fisheries is able to turn those tax credits into real cash benefits for shareholders.
The special taxable bonus share issue does not alter Aotearoa Fisheries obligation to pay a regular dividend and the Directors expect to make the annual dividend announcement early December.
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