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INGHAMS GROUP LIMITED — Capital/Financing Update 2018
Dec 5, 2018
65128_rns_2018-12-05_14df68d7-a4f3-47b2-acc4-56b537ee5d09.pdf
Capital/Financing Update
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6 December 2018 Inghams Group Limited (ASX: ING, Ingham’s)
ASX Release
1. Approval of Capital Return
Shareholders of Inghams Group Limited [ASX:ING, Ingham’s] today approved a return of capital to shareholders of approximately $125 Million ($0.33 per ordinary share) ( Capital Return ).
The tax treatment of the return of capital will be the subject of a Class Ruling to be issued by the Australian Taxation Office. The final version of the Class Ruling will be published on the ATO website and a notice included in the Gazette. The Company will make an announcement to the ASX when the final Class Ruling is published and display the final Class Ruling on its website as soon as it becomes available.
The key dates for the Capital Return are summarised in the table below:
| Event | Date |
|---|---|
| Last date ordinary shares trade on the ASX with entitlement | 7 December 2018 |
| to the Capital Return | |
| Ingham’s shares trade ‘ex’ the Capital Return | 10 December 2018 |
| Record Date for determining entitlement to participate in | 7.00pm (Sydney time) on |
| Capital Return | 11 December 2018 |
| Implementation/Payment of the Capital Return of $0.33 per | 18 December 2018 |
| ordinaryshare |
2. Announcement of On-market Share Buyback
The Company is pleased to announce that the Board has approved the implementation of an on-market share buyback of up to $50 Million of Ingham’s ordinary shares ( Buyback ) intended to commence after the announcement of the Company’s FY2019 first half results on 27 February 2019.
The Buyback will be conducted within the “10/12 limit” as defined in the Corporations Act 2001 and therefore does not require shareholder approval.
Any decision to buy back shares under the Buyback will be informed by relevant market conditions and the Company’s prevailing share price at the time. The Board believes that the Buyback is in the interests of shareholders as a whole and is considered sound capital management.
Macquarie Securities (Australia) Limited has been appointed to manage the Buyback.
Further details about the Buyback are set out in the Appendix 3C lodged with the ASX today.
Media contact
Julia Seddon Ph: +61 2 9826 4410 M: +61 416 059 424 E: [email protected]
Inghams Group Limited • ACN 162 709 506 • Level 4, 1 Julius Ave North Ryde NSW 2113 Australia • Locked Bag 2039, North Ryde, NSW 1670 Australia