Forum Archive Index - October 2002

["G Stolwyk" <stolwyk@wave.co.nz>]

Questions re RECONSTRUCTION.

Q1: When is the RECORD DAY? Answ. quote:

"The Record Date will be 5.00pm on Friday, 18 October 2002, and payments will be made on 25 October 2002 to shareholders registered at 5.00pm on 18 October 2002".

Q2: Say, the share price is $4.60 immediately prior to the Record date. What should be the price after the Record Date? Answ.: About $5.68-See my table in previous post.

Q3: I have 1000 shares before the Record date. How many do I hold after? Answ.: 1000-28%= 720 shares.

Q4: And I hold 1111 shares-How many after? Answ:1111-28%= 799.92 but rounded downwards, you should have 799 shares after. See "Notice of Special meeting" of Sept.4-Last page, item 2: Arrangement.

Q5: I also get $1.80 for each share cancelled; refer to Q3: How much cash do I receive? Answ: 1000-720 or 280 shares were cancelled. You receive 280*$1.80= $504.

Q6: How about applying this to Q4? Answ.: (1111-799)*$1.80= $561.60

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Notes: AIA has about 422 mill shares and this will be reduced by 28% to about 303 mill. shares. (7 shares will be deleted for every 25).

About 119 mill. shares will be cancelled @ $1.80 per share or about $213 mill. will be paid out. The ACC will get about 26% or $55 mill.

Gerry
(Calculations to be confirmed)