Trade Me delisted from NZX
Titan has taken control of Trade Me after paying out $6.45 per share following high-court approval of the takeover.
The Trade Me Group has confirmed 100 per cent of its shares were acquired by Titan AcquisitionCo New Zealand Ltd on May 8.
Link Market Services, Trade Me’s share registry, has confirmed that payment of $6.45 per share has been despatched to shareholders. The exchange rate applying to payments in Australian currency is NZ$1.00 to AU$0.9396.
Titan’s acquisition of Trade Me was made under the scheme of arrangement approved by Trade Me’s shareholders on April 3 and by the high court on April 16. The takeover means the Trade Me Group ceased to be listed on NZX and ASX on May 8.
Trade Me also issued two ongoing disclosure notices on May 8 in regards to directors’ and senior managers’ relevant interests in accordance with the Financial Markets Conduct Act.
These board members held these amounts of shares on the date before the acquisition: David Kirk, chairman, 157,625; Joanna Perry, director, 26,000; Paul McCarney, director, 30,000.
The totals for senior managers were: Alan Clark, head of motors, 26,013; Regan Savage, acting chief customer officer, 2,939; Caroline Rawlinson, chief financial officer, 28,804; Jeremy Wade, head of jobs, 19,034; Nigel Jeffries, head of property, 39,500; Sarah Hard, company secretary, 28,317; Stuart McLean, head of marketplace, audience and payments, 46,339; Simon Young, chief product and technology officer, 22,069; Annie Brown, chief people officer, 16,931; Jon Macdonald, chief executive officer, 330,915.
