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ASB Capital Limited Perpetual Preference Shares

The ASB Capital Limited Perpetual Preference Shares (ASB Capital PPS) were issued by ASB Capital Limited (the Company) on 10 December 2002, and are listed on the NZX Main Board.

The Company is a subsidiary of the Commonwealth Bank of Australia (CBA). On 8 February 2019, pursuant to the Company's constitution, holders of the ASB Capital PPS were provided with compulsory Buyout Notices by another CBA subsidiary, CBA Funding (NZ) Limited (CBA Funding).

The effect of these Buyout Notices is that on 15 May 2019, following the payment of the final dividend on that date:

  • CBA Funding will pay each holder $1 per share for each ASB Capital PPS held (being the issue price of the ASB Capital PPS); and
  • Title to all the ASB Capital PPS will be transferred from the current holders to CBA Funding.

Application has been made to delist the Company from the NZX with effect from 16 May 2019.

Constitution

Reports

Disclaimer: The information contained in this ASB website is designed for use by New Zealand residents only. Neither ASB Bank Limited, the Commonwealth Bank of Australia Group, nor any of their directors, nor any other person guarantees the securities or returns made in respect of the securities. The securities are subject to investment risk including loss of income and principal invested.

Listed securities ASB Capital Limited Perpetual Preference Shares