SKC...The DRP (again)

[taka]

"Reintroduction of the Dividend Reinvestment Plan is primarily designed to provide shareholders with an additional option with respect to the returns from their investment in SKYCITY."

Can anyone translate this jargon and tell me the real reason they're re-introducing it?

And why they're not giving the usual 2-3% discount?

Sorry if this has already been covered folks

[Placebo]

Presumably because people wanted it and were asking for it -- I certainly did. They used to have one until I think 2001.

Is there something you know Taka, or do you just have a suspicious mind?:)

[Dazza]

where did u read that taka?
so they have a DRP now?
wheres my letter in the mail -_-

[taka]

Got that info from the Direct Broking site when I was looking for when SKC were paying their divvy...


Yeah, Im a naturally suspicious guy Placebo...;)
but also a bit of a newbie, so was wondering if it meant anything like they wanted to keep the spare cash for something else etc...

good to see it coming back though...

[taka]

Here it is in full if anyone out there is interested...

SKC21/02/2005DRP REL: 0946 HRS Sky City Entertainment Group Limited (NS) DRP: SKC: SKYCITY - Dividend Reinvestment Plan and Capital Notes Issue Dividend Reinvestment Plan (DRP) SKYCITY Entertainment Group Limited advises that it will reintroduce aDividend Reinvestment Plan (DRP) for shareholders, to apply to the interimdividend for the 2005 financial year which is payable on 1 April 2005. The Dividend Reinvestment Plan will allow shareholders to elect to receivetheir dividends from SKYCITY in the form of shares rather than cash payment.The election of shares in lieu of cash as dividend payment is optional at theelection of the shareholder. SKYCITY previously operated a Dividend Reinvestment Plan between October 2000and October 2002. Reintroduction of the Dividend Reinvestment Plan is primarily designed toprovide shareholders with an additional option with respect to the returnsfrom their investment in SKYCITY. The DRP being reintroduced now does not provide for a discount on currentprice for the conversion of the cash dividend into share equivalent. Theprevious DRP provided a discount of 3% for the conversion calculation but thecompany has determined that a discount should not apply at this time. The SKYCITY interim dividend will be paid on 1 April 2005 to thoseshareholders on the SKYCITY register as at 5.00pm (New Zealand time) on 18March 2005. A Dividend Reinvestment Plan Offer Document, explaining the terms andconditions of the DRP, will be mailed to shareholders in approximately twoweeks time. Capital Notes SKYCITY Entertainment Group advises that it will offer a renewal of itsexisting capital notes to existing capital noteholders. $150 million of five year SKYCITY capital notes were issued in 2000 with amaturity at 15 May 2005. Notices explaining the new conditions (interest rate, interest dates, term)of the renewal of the capital notes will be advised to noteholders prior to 1April 2005. Noteholders may elect whether to retain their capital notes onthese terms, or to convert their notes into SKYCITY ordinary shares. Thecompany may determine to purchase or redeem capital notes that the holder haselected to convert into ordinary shares.End CA:00111704 For:SKC Type:DRP Time:2005-02-21:09:46:21

[Placebo]

Thanks Taka. fwiw I'm still awaiting my info package from SKC.

[Dazza]

same here.... can anyone who recieves one, post in here to let us know thanks

otherwise ill go n give computershare a kick up the bhumb!!! they have really bad telefone services, with their 40+ yr old 'mums' working there who have no manners or ideas about what they are doing

[craic]

Dazza - you may have problems with 40-year-old mums and the like butyou seem to have difficulty reading as well. The announcement below is available at the click of a button on this site and it tells you that a full explanation will be posted out in "about two weeks" That is on 7th March or tomorrow if i'm not mistaken - being a sixty-eight year-old grandfather and all that.


City Entertainment Group Limited (NS) Announcement (issued @
9:46am)
S

KC21/02/2005DRP REL: 0946 HRS Sky City Entertainment Group Limited (NS) DRP: SKC: SKYCITY - Dividend Reinvestment Plan and Capital Notes Issue Dividend Reinvestment Plan (DRP) SKYCITY Entertainment Group Limited advises that it will reintroduce aDividend Reinvestment Plan (DRP) for shareholders, to apply to the interimdividend for the 2005 financial year which is payable on 1 April 2005. The Dividend Reinvestment Plan will allow shareholders to elect to receivetheir dividends from SKYCITY in the form of shares rather than cash payment.The election of shares in lieu of cash as dividend payment is optional at theelection of the shareholder. SKYCITY previously operated a Dividend Reinvestment Plan between October 2000and October 2002. Reintroduction of the Dividend Reinvestment Plan is primarily designed toprovide shareholders with an additional option with respect to the returnsfrom their investment in SKYCITY. The DRP being reintroduced now does not provide for a discount on currentprice for the conversion of the cash dividend into share equivalent. Theprevious DRP provided a discount of 3% for the conversion calculation but thecompany has determined that a discount should not apply at this time. The SKYCITY interim dividend will be paid on 1 April 2005 to thoseshareholders on the SKYCITY register as at 5.00pm (New Zealand time) on 18March 2005. A Dividend Reinvestment Plan Offer Document, explaining the terms andconditions of the DRP, will be mailed to shareholders in approximately twoweeks time. Capital Notes SKYCITY Entertainment Group advises that it will offer a renewal of itsexisting capital notes to existing capital noteholders. $150 million of five year SKYCITY capital notes were issued in 2000 with amaturity at 15 May 2005. Notices explaining the new conditions (interest rate, interest dates, term)of the renewal of the capital notes will be advised to noteholders prior to 1April 2005. Noteholders may elect whether to retain their capital notes onthese terms, or to convert their notes into SKYCITY ordinary shares. Thecompany may determine to purchase or redeem capital notes that the holder haselected to convert into ordinary shares.End CA:00111704 For:SKC Type:DRP Time:2005-02-21:09:46:21

[Dazza]

craic, sorry but i dun trust nz post no more, afta they didnt even send me the application form for PMN!! a few years ago.

and whats wrong with knowing that someone else has it and that i dun? so what would u do... sit there and wait ?! no u would ring some peeps up mkay.

and yes i do know its gonna take two weeks.

and no soryr i dun have probs with 40s old moms.

but i do have ones that work with computer share as their telephone customer services is really shocky.

dun tell me that no one else has experienced em be4.

vodafone has the best customer service.

[johna]

vodafone customer service is rubbish in my experience.

They don't do what they say they will, and they don't understand their own systems. I never got my free airtime credit despite sending in the form, and trying to get my online login resolved was an absolute nightmare.

I vote Westpac as the best call centre.