IN BRIEF: Zespri’s Targeted Share Offer and Buy-Back
Share Offer – Up to 1 share per tray of production, for producing growers who supply Zespri
Share Buy-Back – Growers that hold 1.5 shares per tray of production and above, or ex-growers that hold shares but no longer supply Zespri. (Ex-growers, also known as dry shareholders, includes misaligned shareholders – see definition below*.)
Shareholders eligible to participate will receive a letter of entitlement in early September from Zespri.
The share price for both share issue and share buy-back is $8.00 per share.
*A misaligned shareholder is a shareholder that does not supply fruit to Zespri, but may have another associated entity that supplies fruit to Zespri. If the misaligned shareholder is not the owner of a producing orchard and has no lease in place with the supplying entity (a copy of which lease must be supplied to Zespri), they are treated as ex-growers/dry shareholders.