Whitefield Limited (Whitefield or the Company) is pleased to announce the terms of an offer to eligible

shareholders of the Company to subscribe for fully paid new ordinary shares in the capital of Whitefield (SPP Shares) at the lower of:

• A$4.51; or
• an amount equal to a 2.5% discount to the volume weighted average market price of 
  Whitefield's Shares traded on ASX over the five trading days up to, and including the Plan closing date (ie, 3 July 2020), rounded down to the nearest cent.

The offer price of A$4.51 equates to:

• a 2.5% discount to the volume weighted average market price over the last five trading days prior to the record date being the 9th June 2020.
 

Each Whitefield shareholder with a registered address in Australia and New Zealand who holds shares at the record date of 9 June 2020 will be eligible to acquire up to A$30,000 worth of SPP Shares in the Company.

The Plan will provide eligible shareholders with an opportunity to purchase shares in the Company without incurring brokerage or other transaction costs.

Whitefield intends to cap the Plan at A$45,100,000 (being 10,000,000 SPP Shares at an issue price of A$4.51 per SPP Share).

If subscriptions under the Plan exceed A$45,100,000, the Company may scale back applications received under the Plan. If applications are scaled back, any excess application monies will be refunded without interest.

If applications under the Plan are received in excess of A$45,100,000, the Board retains the discretion to issue more SPP Shares to satisfy all or part of such applications, subject to the maximum number of SPP Shares to be issued not exceeding 30% of the issued share capital of the Company immediately preceding the date of issue.

Proceeds raised from the Plan will be held in cash or cash equivalents and subsequently invested in ASX listed securities in accordance with Whitefield’s investment strategy as and when suitable opportunities arise.

SPP Shares issued under the Plan are fully paid ordinary shares in the Company and will rank equally with the existing fully paid ordinary shares of the Company at the time of issue, carrying the same voting rights and other entitlements, including entitlement to the dividend, due to be paid in December 2020.

Shareholder approval is not required for the issue of SPP Shares to shareholders under the Plan.

The Plan documentation will be posted to eligible shareholders on or around 16 June 2020 together with an> Application Form. Shareholders will need to complete and return the Application Form by 3 July 2020 in order to take up shares under the Plan. Shareholders should consider all of the Plan documentation, including the Plan Terms and Conditions, before deciding whether to participate in the offer.

Important Dates

Record date for determining entitlements under the Plan  7.00pm (Sydney time) on 9 June 2020
Plan documents despatched to eligible shareholders 16 June 2020
Plan offer Opens 19 June 2020
Plan offer closes 5.00pm (Sydney time) on 3 July 2020
Final issue price announced 8 July 2020
SPP Shares allotted 10 July 2020
Despatch of holding statements to shareholders 14 July 2020

The dates in the table above are indicative only and Whitefield may amend this timetable. Whitefield may also withdraw the offer of SPP Shares under the Plan at any time before the allotment date in its absolute discretion.

Comments from Whitefield

The Plan provides Whitefield’s shareholders with a convenient method to increase their exposure to Australian shares at a small discount to the market price of Whitefield’s ordinary shares.

For further information please contact:

Whitefield's share registry, Computershare Investor Services Pty Limited on 1300 850 505 (within Australia) or +61 3 9415 4000 (outside Australia).

Click here for the 2020 Share Purchase Plan Terms & Conditions

Detailed instructions on how to access the 2020 AGM can be found here (click here to view).

The prospectus for Whitefield's Convertible Resettable Preference Shares and the First Reset Notice are available to download by clicking on the relevant images below:

Whitefield's registered office is:

Suite 16.01
Level 16, 68 Pitt Street
SYDNEY NSW 2000

Tel: 02 8215 7900

Please note the Company is unable to assist with enquiries relating to your shareholding and all share registry enquiries should be referred to Whitefield's Share Registry:

Computershare Investor services Pty Limited.
Level 3, 60 Carrington Street
SYDNEY NSW 2000

Tel: 1300 850 505 or (outside Australia): +61 3 9415 4000

www.investorcentre.com

 

Upcoming Event Approximate Date1
Net Asset Backing Released monthly on or before 14th of month
Next Dividend

The next scheduled dividend is due to be paid on the 12th June 2020

The Company has recently declared the following dividends:

Ordinary Shares (WHF) - declared final dividend 10.25 cents per share, fully franked)
8% Preference Shares (WHFPA) - 4.0 cents per share, fully franked
Convertible Resettable Preference Shares (WHFPB) - $2.0125 per share, fully franked

Each dividend will have 10% of its value attributed to LIC Discount Capital Gains.

2nd Quarter Report 3rd week of August 2020
Annual Report Last week of July 2020
1 All dates are approximate only and may be subject to change

 

Whitefield aims to pay dividends on Ordinary shares twice yearly, and has adopted this policy since 1988 following the introduction of the dividend imputation system.

Ordinary Class Shareholders may receive their dividends in cash (paid directly by EFT) or may elect to participate in the company’s Dividend Reinvestment Plan (DRP) and/or the company's Bonus Share Plan (BSP).

The company’s latest declared dividends are as follows:

Ordinary Shares

Ex Date Record Date Payment Date Amount (cents)
25-November-2020 26-November-2020 11-December-2020 10.25

 

8% Cumulative Preference Shares

Ex Date Record Date Payment Date Amount (cents)
25-November-2020 26-November-2020 11-December-2020 4.0

 

5.75% Convertible Resettable Preference Shares (CRPS)

Ex Date Record Date Payment Date Amount (cents)
25-November-2020 26-November-2020 11-December-2020 201.25


Click here for the dividend history.

Ex-Date Payment Date Oridnary Franking DRP/BSP
Price
8%
Preference
Franking CRPS Franking
25-11-20 11-12-20 10.25 100% 519 4.0 100% 201.25 100%
27-05-20 12-06-20 10.25 100% 451 4.0 100% 201.25 100%
25-11-19 12-12-19 10.25 100% 513 4.0 100% 201.25 100%
27-05-19 12-06-19 10.00 100% 464 4.0 100% 201.25 100%
23-11-18 12-12-18 9.75 100% 423 4.0 100% 350.00 100%
23-05-18 12-06-18 9.0 100% 436 4.0 100% 350.00 100%
24-11-17 12-12-17 8.75 100% 460 4.0 100% 350.00 100%
26-05-17 13-06-17 8.5 100% 434 4.0 100% 350.00 100%
24-11-16 12-12-16 8.5 100% 415 4.0 100% 350.00 100%
27-05-16 14-06-16 8.5 100% 413 4.0 100% 350.00 100%
20-11-15 11-12-15 8.5 100% 406 4.0 100% 350.00 100%
22-05-15 12-06-15 8.5 100% 445 4.0 100% 350.00 100%
20-11-14 12-12-14 8.5 100% 405 4.0 100% 350.00 100%
26-05-14 13-06-14 8.5 100% 403 4.0 100% 350.00 100%
21-11-13 12-12-13 8.5 100% 389 4.0 100% 350.00 100%
17-05-13 11-06-13 8.5 100% 361 4.0 100% 350.00 100%
20-11-12 12-12-12 8.5 100% 287 4.0 100% 218.63 100%
15-05-12 06-06-12 8.5 100% 263 4.0 100%    
21-11-11 12-12-11 8.5 100% 242 4.0 100%    
05-04-11 29-04-11 8.5 100% - 4.0 100%    
16-11-10 07-12-11 8.5 100% 293 4.0 100%    
11-05-10 31-05-10 8.5 100% 302 4.0 100%    
17-11-09 07-12-09 8.5 100% 325 4.0 100%    
19-05-09 10-06-09 8.5 100% 271 4.0 100%    
10-11-08 28-11-08 8.5 100% 281 4.0 100%    
29-04-08 19-05-08 8.1 100% 353 4.0 100%    
02-11-07 19-11-07 8.0 100% 454 4.0 100%    
04-05-07 16-05-07 7.9 100% 451 4.0 100%    
01-11-06 13-11-06 7.8 100% 409 4.0 100%    
09-06-06 22-06-06 7.7 100% 397 4.0 100%    
07-11-05 17-11-05 7.2 100% 352 4.0 100%    
07-06-05 21-06-05 7.0 100% 354 4.0 100%    
01-11-04 10-11-04 6.8 100% 304 4.0 100%    
11-06-04 25-06-04 6.3 100% 300 4.0 100%    
17-11-03 27-11-03 6.3 100% 304 4.0 100%    
28-05-03 10-06-03 6.3 100%   4.0 100%    
13-11-02 26-11-02 6.3 100%   4.0 100%    
31-05-02 13-06-02 6.3 100%   4.0 100%    
20-11-01 05-12-01 6.3 100%   4.0 100%    
01-06-01 15-06-01 6.3 100%   4.0 100%    
21-11-00 05-012-00 6.3 100%   4.0 100%    
01-06-00 16-06-00 6.3 100%   4.0 100%    
17-11-99 01-12-99 6.0 100%   4.0 100%    
07-05-99 02-06-99 6.0 100%   4.0 100%    
13-11-98 04-12-98 5.5 100%   4.0 100%    
14-05-98 02-06-98 4.0 100%   4.0 100%    
13-11-97 27-11-97 3.7 100%   4.0 100%    
19-05-97 30-05-97 3.5 100%   4.0 100%    
14-11-96 28-11-96 3.3 100%   4.0 100%    
16-05-96 31-05-96 3.2 100%   4.0 100%    
14-11-95 29-11-95 3.0 100%   4.0 100%    
15-05-95 31-05-95 2.9 100%   4.0 100%    

 

Note:
Dividend amounts and prices are in Australian cents.

Dividend Reinvestment Plan was introduced in August 2003.
The dividend Reinvestment Plan was not offered for the dividend payable 29th April 2011
CRPS were first issued on 14th August 2012

Bonus Share Plan was introduced in March 2015.

Whitefield’s Dividend Reinvestment Plan [DRP] allows Ordinary Class shareholders to have some or all of their dividend reinvested in Whitefield shares. Under the Dividend Reinvestment Plan, a shareholder receives Whitefield Ordinary Shares equivalent in value to their participating dividend in lieu of receiving cash.

The price at which shares are issued under the Dividend Reinvestment Plan is the weighted average market price of Whitefield’s Ordinary shares over the 5 trading days subsequent to the ex-dividend date of the Ordinary Shares (as detailed in the DRP Terms) less any discount applicable to the DRP as advised by the company from time to time.

Shareholders may elect to participate in Whitefield’s DRP by updating their DRP Participation status via submission of a hard copy form avauiable from the Share Registry or via the internet by visiting www.investorcentre.com.

Click here for the Terms and Conditions of the Dividend Reinvestment Plan.

Click here for the contact details of the Share Registry (Computershare Investor Services)

Whitefield’s Bonus Share Plan [BSP] allows Ordinary Class shareholders to forgo some or all of their dividend entitlement and instead be issued with additional Ordinary Shares equivalent in value to the foregone dividend.

The price at which shares are issued under the Bonus Share Plan is the weighted average market price of Whitefield’s Ordinary shares over the 5 trading days subsequent to the ex-dividend date of the Ordinary Shares (as detailed in the BSP Terms) less any discount applicable to the BSP as advised by the company from time to time.

Under Australian Tax Legislation, shares allotted under the BSP should not be deemed to be a dividend and in most circumstances should not be subject to Australian income tax at the time of allotment. By forgoing their dividend a participating shareholder will also not be entitled to franking credits or LIC Discount Capital Gain deductions to which they would otherwise have been entitled had the dividend been taken in cash. For Australian income tax purposes, shares issued under the BSP will affect the tax cost and taxable gain or loss on the subsequent disposal of any shares allotted under the BSP and the participating shares in relation to which the Bonus Shares were allotted.

While Whitefield is not able to provide income tax advice to specific shareholders, the Bonus Share Plan may be of interest to shareholders wishing to accumulate more Whitefield Ordinary Shares and who are subject to high marginal tax rates. Similarly in some circumstances the BSP may not suit the requirements of superannuation shareholdeers or those subject to lower marginal tax rates. However, each shareholder's tax circumstances are different.  Accordingly, it is extremely important for shareholders to consider their individual tax circumstances when assessing whether to particiapte in the BSP.  Whitefield does not warrant that participants in the BSP will gain any taxation advantage by participating in the BSP and recommends shareholders obtain professional taxation advice.

Shareholders may elect to participate in Whitefield’s BSP by updating their BSP Participation either via submission of a hard copy form available from the Share Regisry or via the internet by visiting www.investorcentre.com.

Click here for the Bonus Share Plan Terms and Conditions

Click here for the Class Ruling in relation to the Bonus Share Plan

Click here for the contact details of the Share Registry (Computershare Investor Services)

Changes to your shareholding details should be notified to Whitefield’s Share Registry. Changes may be performed over the internet via the Share Registry's online service www.investorcentre.com or via submission of hard copy form available from the Share Registry.

This includes changes in details relating to:

  • Change to Name
  • Chnage of Address (Issuer sponsored holders only).
  • Notification of TFN
  • Notification of Banking Details
  • Communication Preferences
  • Participation in Dividend Reinvestment Plan
  • Participation in the Bonus Share Plan

Note: if your holding is Broker Sponsored, indicated by an X at the start of your holder number you can only change your address via your sponsoring broker.
 

Off-market transfers can only be made on Issuer Sponsored Holdings, reference numbers starting with an 'I'.  If you wish to transfer a Broker Sponsored Holding, reference number starting with an 'X' you must contact your sponsoring broker.

Off-market share transfers must be submitted to the Company's Share Registry managed by Computershare Investor Services Pty Limited for processing.

Please note that in order to prevent the unauthorised transfer of shares, supporting documentation is required from the seller and these requirements are listed in the instructions accompanying the form.

An off-market transfer may also incur a fee.

A copy of the off-market transfer form and instructions is available by clicking here.

 

 

 

Whitefield’s share registry may be contacted as follows:

Internet

Please follow the prompts at: www.computershare.com

Mail

Computershare Investor Services Pty Limited 

Level 3, 60 Carrington Street

Sydney NSW 2000 Australia

Phone/Fax

Enquiries (within Australia) 1300 850 505 or (outside Australia) +61 3 9415 4000

Facsimile +61 3 9473 2500

 

Most of the changes to your Whitefield holding details can be made securely online via the Share Registry's online service www.investorcentre.com

The following forms are made available for shareholders wishing to use them:

Please note that the Change of Address form can only be used for Issuer Sponosred Holdings (rerference numbers beginning with an 'I'), for Broker Sponsored Holdings (reference numbers beginning with an 'X') you must conatct your sponsoring broker.

Please ensure all forms are returned to the Share Registry at the address on the form to prevent any delay in processing.