ANZ StEPS
First Reset Date 15 September 2008
Frequently Asked Questions
Q. How do I find out about my ANZ StEPS holding?
A. By calling ANZ's Share Registry on
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Q. When was the first Reset Date?
A. The first Reset Date under the ANZ StEPS issue terms was 15 September 2008.
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Q. Why is a Reset Date important?
A. Reset Dates are dates on which:
- ANZ may require you to Exchange your ANZ StEPS or may change some of the terms of ANZ StEPS subject to certain restrictions; and
- You may choose to Exchange your ANZ StEPS.
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Q. What happened on the 15 September 2008 Reset Date?
A. As announced to the ASX on 29 July 2008, ANZ decided to Exchange all ANZ StEPS on the 15 September 2008 Reset Date. ANZ has now exchanged all ANZ StEPS by way of Conversion into ANZ ordinary shares.
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Q. Which Exchange option has ANZ elected?
A. As announced on ASX on 29 July 2008, ANZ decided to Exchange all ANZ StEPS on issue by way of Conversion into ANZ ordinary shares on 15 September 2008. ANZ has now completed this process.
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Q. If I have given ANZ a Holder Exchange Notice will this change what will happen to my ANZ StEPS?
A. No. As announced to the ASX on 29 July 2008, ANZ has elected to Convert all ANZ StEPS on issue by way of Conversion into ANZ ordinary shares on 15 September 2008, including those ANZ StEPS that holders have requested ANZ to Exchange pursuant to a Holder Exchange Notice. ANZ has now completed this process.
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Q. Can I continue to trade my ANZ StEPS on ASX?
A. No. ANZ StEPS are no longer quoted on ASX and ANZ has now Exchanged all ANZ StEPS by way of Conversion into ANZ ordinary shares.
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Q. How many ANZ ordinary shares will I get now that ANZ has Exchanged my ANZ StEPS by way of Conversion into ANZ ordinary shares?
A. All ANZ StEPS on issue were Exchanged into ANZ ordinary shares by way of Conversion in accordance with the formula in the ANZ StEPS Prospectus. The formula was based on the average of the daily volume weighted average sale prices of ANZ ordinary shares sold on the Australian Securities Exchange (ASX) in the 20 business day period commencing 18 August 2008 to 12 September 2008 (VWAP). The VWAP was $16.55.
After applying a 2.5% discount to the VWAP, each ANZ StEPS with the face value of $100 was Exchanged by way of Conversion into 6.1972 ANZ ordinary shares.
Where the total number of ANZ ordinary shares to be allotted on Conversion in respect of a holder's ANZ StEPS holding included a fraction, the number of ANZ ordinary shares allotted was rounded down to the nearest whole number.
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Q. What is the VWAP?
A. The VWAP was $16.55. After applying a 2.5% discount to the VWAP, each ANZ StEP with a face value of $100 was Exchanged by way of Conversion into 6.1972 ANZ ordinary shares.
Where the total number of ANZ ordinary shares to be allotted on Conversion in respect of a holder's ANZ StEPS holding included a fraction, the number of ANZ ordinary shares allotted was rounded down to the nearest whole number.
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Q. What are the taxation implications of the Exchange of my ANZ StEPS by way of Conversion into ANZ ordinary shares?
A. You should seek your own tax advice about the taxation implications.
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Q. I am not an Australian or New Zealand ANZ StEPS holder. Will I receive ANZ ordinary shares following conversion of ANZ StEPS?
A. Yes, ANZ StEPS holders outside Australia and New Zealand were issued ANZ ordinary shares following Conversion in accordance with the terms of ANZ StEPS.
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Q. Will I receive the quarterly distribution that was paid on 15 September 2008?
A. Registered ANZ StEPS holders as at the 29 August 2008 record date were entitled to receive the quarterly distribution that was paid on 15 September 2008 even though their ANZ StEPS have now been Exchanged by way of Conversion into ANZ ordinary shares.
The distribution paid was $2.1902 per ANZ StEPS and was paid on 15 September 2008 in accordance with the terms of the ANZ StEPS and the payment instructions that have previously been given to ANZ's Share Registry.
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