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Tatts Bonds

On 29 June 2012, Tatts Group announced that the offer of Tatts Bonds had successfully raised $194.7 million. Through the offer 1,946,642 Tatts Bonds were issued at a price of $100 each. Tatts Bonds are seven year debt securities which commenced trading on the Australian Securities Exchange (ASX) on a normal settlement basis on 4 July 2012, under the listing code TTSHA.

Copies of the Tatts Bonds Prospectus dated 6 June 2012 and the Trust Deed  are available via the links provided below.

On 22 December 2017, Tatts Group announced that implementation of the scheme of arrangement between Tatts Group and its shareholders gave rise to a Change of Control Event under the Terms of the Tatts Bonds. Holders of Tatts Bonds were entitled to redeem their Tatts Bonds as a result of the Change of Control Event having occurred. Tatts Group received redemption requests in respect of 26,752 Tatts Bonds. In accordance with the Terms of the Tatts Bonds, an amount of $100.6450 per Tatts Bond redeemed was paid to the relevant Bondholders who exercised their entitlement to redeem their Tatts Bonds. This payment represented the aggregate amount of the Face Value of a Tatts Bond (being $100 per Tatts Bond) together with the accrued interest up to (but excluding) the Change of Control Redemption Date (being $0.6450 per Tatts Bond). The Tatts Bonds which were redeemed have been cancelled. Following the partial redemption and cancellation of the 26,752 Tatts Bonds, 1,919,890 Tatts Bonds remain on issue and quoted on the ASX.

Holders of Tatts Bonds are entitled to received quarterly interest payments, payable quarterly in arrears. The interest rate is equal to the sum of the 90 day bank bill rate plus a fixed margin of 3.10%, and is calculated on the first business day of each quarter. Details of interest payments will be announced to ASX, and the following below table will be updated following the calculation of the interest rate each quarter.

WHAT HAPPENED TO MY TATTS BONDS AFTER THE TABCORP & TATTS COMBINATION?

1. What happened to Tatts Bonds in the combination?

On Implementation of the Scheme, Tatts Bonds remain quoted on the ASX under the code TTSHA. Tatts Bonds are expected to continue to operate as normal, including with respect to quarterly interest payments.

2. What is the Change of Control Event Notification?

As a consequence of the Tabcorp-Tatts combination, all the shares in Tatts were transferred to Tabcorp, which is a Change of Control Event under the terms of issue of the Tatts Bonds. This Change of Control Event occurred on the Scheme Implementation Date, 22 December 2017. Tatts informed Bondholders of this Change of Control Event in writing.

3. What is the Change of Control Event Redemption Exercise Notice?

Upon the Change of Control Event occurring, Bondholders could choose to redeem their Tatts Bonds at the face value of $100 plus $0.645 being the quarterly interest accrued to 22 February 2018 (The Change of Control Event Redemption Date). Tatts sent to Bondholders a notification informing Bondholders of their entitlement to exercise their rights to redeem their Bonds. Redemption of Tatts Bonds at this time was entirely optional.

4. When do Change of Control Event Redemption Exercise Notices need to be returned?

If a Bondholder wished to redeem their Bonds, then a signed and completed Redemption Exercise Notice must have been received by the Tatts Bonds registry no later than 24 January 2018. Redemption payments were made on 22 February 2018.

5. When do Tatts Bonds mature?

Tatts Bonds mature on 5 July 2019, unless redeemed earlier.

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Tatts Bonds Interest Payment Details

Interest Payment Date Record Date 90 Day Bank Bill Rate Interest Rate Days in Interest Period Interest Amount per Tatts Bond
7 Jan 2019 28 Dec 2018 1.9247% 5.0247% 94 days $1.2940
5 Oct 2018 27 Sep 2018 2.0600% 5.1600% 92 days $1.3006
5 Jul 2018 27 Jun 2018 2.0400% 5.1400% 91 days $1.2815
5 Apr 2018 28 Mar 2018 1.8050% 4.9050% 90 days $1.2095
5 Jan 2018 28 Dec 2017 1.7050% 4.8050% 92 days $1.2111
5 Oct 2017 27 Sep 2017 1.7050% 4.8050% 92 days $1.2111
5 Jul 2017 27 Jun 2017 1.7850% 4.8850% 91 days $1.2179
5 Apr 2017 28 Mar 2017 1.7900% 4.8900% 90 days $1.2058
5 Jan 2017 28 Dec 2016 1.7350% 4.8350% 92 days $1.2187
5 Oct 2016 27 Sep 2016 1.9683% 5.0683% 92 days $1.2775
5 Jul 2016 27 Jun 2016 2.2717% 5.3717% 91 days $1.3392
5 Apr 2016 24 Mar 2016 2.3350% 5.4350% 91 days $1.3550
5 Jan 2016 24 Dec 2015 2.1667% 5.2667% 91 days $1.3131
6 Oct 2015 28 Sep 2015 2.1400% 5.2400% 92 days $1.3208
6 Jul 2015 26 Jun 2015 2.1450% 5.2450% 90 days $1.2933
7 Apr 2015 30 Mar 2015 2.7483% 5.8483% 92 days $1.4741
5 Jan 2015 24 Dec 2014 2.7067% 5.8067% 90 days $1.4318
7 Oct 2014 29 Sep 2014 2.6667% 5.7667% 92 days $1.4535
7 Jul 2014 27 Jun 2014 2.6917% 5.7917% 91 days $1.4440
7 Apr 2014 28 Mar 2014 2.6233% 5.7233% 91 days $1.4269
6 Jan 2014 27 Dec 2013 2.5583% 5.6583% 91 days $1.4107
7 Oct 2013 27 Sep 2013 2.8308% 5.9308% 94 days $1.5274
5 Jul 2013 27 Jun 2013 3.0733% 6.1733% 91 days $1.5391
5 Apr 2013 28 Mar 2013 3.0500% 6.1500% 88 days $1.4827
7 Jan 2013 28 Dec 2012 3.1900% 6.2900% 94 days $1.6199
5 Oct 2012 27 Sep 2012 3.5300% 6.6300% 90 days $1.7983

 

Tatts Bonds Prospectus

  • Tatts Bonds
    Prospectus

    06/06/2012
  • Tatts Bonds Trust Deed

    29/05/2012

Dividend History

DIVIDEND HISTORY

FY18 Special Dividend

Tatts Group announced a special dividend of 16.0 cents per share on 11 December 2017. The special dividend was fully franked and was paid to owners of ordinary shares on the register at the close of business on 15 December 2017 (‘record date’). The ex-dividend date was 14 December 2017. Shares purchased on or after the ex-dividend date, do not qualify for the dividend.

The DRP for this special dividend was suspended.  The suspension was in accordance with clause 6.2(d) of the Merger Implementation Deed entered into between Tabcorp Holdings Limited and Tatts Group Limited on 18 October 2016. Accordingly all dividends due to shareholders were credited to nominated bank accounts or paid by cheque.

Important information regarding the payment of your dividends

Tatts Group paid shareholders with registered addresses in Australia, New Zealand and the United Kingdom cash dividends by direct credit only. If you did not provide your payment instructions by the record date and you are not a full Dividend Reinvestment Plan participant, your dividend was held on your behalf in a non-interest bearing account.

If you have any questions or wish to claim any dividends, please contact Link as follows:

Link Market Services Limited

Level 12, 680 George Street

Sydney NSW 2000

T: 1300 665 661

W: www.linkmarketservices.com.au

 

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Dividend History

Dividend Ex-Div
Date
Record
Date
Payment
Date
Cents/
Share
Total
(A$000)
DRP Share
Price
DRP
Discount
2017
Special 14 Dec 15 Dec 19 Dec 16.0 235,037 Suspended Suspended
Final 1 Sep 4 Sep 3 Oct 8.0 117,482 Suspended Suspended
Interim 6 Mar 7 Mar 3 Apr 9.5 139,509 Suspended Suspended
2016
Final 31 Aug 1 Sep 4 Oct 8.0 117,162  $3.77  –
Interim 26 Feb 1 Mar 31 Mar 9.5 139,130 Suspended Suspended
2015
Final 1 Sep 3 Sep 5 Oct 7.5 109,561 $3.54
Interim 27 Feb 3 Mar 2 Apr 9.0 130,118 $3.88 1.5%
2014
Final 1 Sep 3 Sep 6 Oct 5.5 78,895 $3.17 1.5%
Interim 26 Feb 4 Mar 4 Apr 8.0 113,369 $2.90 1.5%
2013
Final 29 Aug 4 Sept 7 Oct 7.5 105,203 $3.05 1.5%
Interim 27 Feb 5 Mar 5 Apr 8.0 110,908 $3.07 1.5%
2012
Final 30 Aug 5 Sept 3 Oct 12.0 163,550 $2.64 1.5%
Interim 29 Feb 6 Mar 4 Apr 11.0 147,483 $2.33 1.5%
2011
Final 1 Sep 7 Sep 5 Oct 11.00 145,056 2.10 1.5%
Interim 2 Mar 8 Mar 6 Apr 10.50 136,593 2.18 1.5%
2010
Special 4 2 Sep 7 Sep 1 Oct 11.00 141,013 2.29 1.5%
Interim 2 Mar 9 Mar 6 Apr 10.00 127,564 2.44
2009
Final 2 Sep 8 Sep 2 Oct 11.00 139,708 2.52
Interim 5 Mar 12 Mar 3 Apr 10.00 126,542 2.58
2008
Special 3 8 Sep 12 Sep 3 Oct 10.50 132,862
Interim 7 Mar 14 Mar 4 Apr 9.50 120,209
2007
Special 2 10 Sep 14 Sep 5 Oct 4.00 50,614
Final 10 Sep 14 Sep 5 Oct 10.00 126,535
Interim 1 Mar 7 Mar 30 Mar 8.00 101,228
2006
Final 6 Sep 12 Sep 26 Sep 7.50 53,008
Interim 1 6 Mar 10 Mar 5 Apr 8.75 61,842

Notes: All dividends are fully franked.

(4) Special Dividend substituting for the final dividend both in quantum and timing.
(3) Refer to ASX release dated 23 June, 2008.
(2) One-off Special Dividend paid out of the settlement of the Trustee Commission claim.
(1) The 2006 Interim Dividend related to profits for the 7-month period from 1 June 2005 to 31 December 2005.

 

Shareholder Services

SHAREHOLDERS SERVICES – TATTS/TABCORP COMBINATION

As a result of the combination between Tatts Group Limited (Tatts) and Tabcorp Holdings Limited (Tabcorp), all of Tatts ordinary shares were acquired by Tabcorp.  The combination was implemented on 22 December 2017, at which time Tatts shareholders received 0.8 Tabcorp ordinary shares and $0.265 cash for every Tatts ordinary share held at the Scheme Record Date on 19 December 2017 (except Ineligible Foreign Holders who received net proceeds from the sale of an equivalent number of Tabcorp shares plus $0.265 cash).

Tatts also paid a Special Dividend of $0.16 per Tatts share on 19 December 2017, prior to the combination being completed.

The combination was achieved by a Scheme of Arrangement between Tatts and its shareholders.  The Tatts Scheme Booklet dated 8 September 2017 and Supplementary Scheme Booklet dated 28 November 2017 contain details about the Scheme of Arrangement and are available from the ASX Releases & News Updates page  www.tattsgroup.com/investor-relations/asx-releases-news-updates.

For any questions regarding your Tabcorp shareholding, please contact the Tabcorp share registry as follows:

Link Market Services Limited

Level 12, 680 George Street, Sydney NSW 2000

T 1300 665 661

T +61 2 8280 7418

W www.linkmarketservices.com.au

E tabcorp@linkmarketservices.com.au

For any questions regarding your cash payments from Tatts, including the cash payment for the Scheme Consideration, please contact Link as follows:

Link Market Services Limited

Level 12, 680 George Street

Sydney NSW 2000

T: 1300 665 661

W: www.linkmarketservices.com.au

Tabcorp and Tatts Merger – Questions

GENERAL QUESTIONS

1. What is the combination/merger?

Tabcorp and Tatts have combined, bringing the two businesses into one company called Tabcorp.  The combination was effected by a Scheme of Arrangement between Tatts and Tatts shareholders and implemented on 22 December 2017.

2. Why did Tabcorp and Tatts combine?

The combination brings together two highly complementary businesses and creates a leading, diversified portfolio of gambling entertainment businesses. The combination is expected to unlock substantial value for shareholders, with at least $130 million per annum of EBITDA from synergies and business improvements expected to be delivered. In addition, the combination will deliver increased benefits to the racing industry and other stakeholders. You should refer to the Tatts Scheme Booklet for further information in relation to the background to the combination.

3.  When did the combination occur?

The combination was finalised on the Scheme Implementation Date which was 22 December 2017.

4. Where do I get more information about the combination?

You can access a copy of the Tatts Scheme Booklet, and the Tatts Supplementary Scheme Booklet from the Tatts website at the bottom of this page.

5. Can I get a copy of the Tatts Scheme Booklet?

The Tatts Scheme Booklet is available online at www.tattsgroup.com/investor-relations/shareholders or at the bottom of this page. Please note that the Tatts Scheme Booklet was supplemented by the Tatts Supplementary Scheme Booklet which is also available online at www.tattsgroup.com/investor-relations/shareholders.

FORMER TATTS SHAREHOLDERS

1. What did Tatts shareholders receive under the Scheme of Arrangement?

Under the Scheme, Eligible Tatts shareholders received 0.80 Tabcorp Shares and $0.265 cash for every Tatts Share held on 19 December 2017, and a $0.16 Tatts Special Dividend paid on 19 December 2017. Ineligible Foreign Holders received only cash (and no Tabcorp Shares) totalling $4.90092 per Tatts share, which comprised the Tatts Special Dividend of $0.16 per Tatts Share paid on 19 December 2017, the remaining cash component of the Scheme Consideration of $0.265 per Tatts Share paid on 22 December 2017, and the net proceeds from the sale of the Tabcorp Shares remitted to a Nominee to sell on their behalf of $5.5949 per Tabcorp Share.

2. What has happened to my Tatts Shares?

Under the terms of the Scheme, all Tatts Shares were acquired by Tabcorp and 0.80 Tabcorp Shares were issued to Eligible Tatts shareholders for every Tatts Share held. The new Tabcorp Shares received under the Scheme rank equally with all other Tabcorp Shares and are listed on the ASX under the code TAH. The New Tabcorp Shares commenced trading on a deferred settlement basis from 14 December 2017 and on a normal settlement basis from 27 December 2017.

3. Where is my cash payment? 

Tatts paid the cash Scheme Consideration on 22 December 2017 using the banking instructions previously provided by Tatts shareholders and via cheque to other Tatts shareholders.

4. What are the taxation consequences of the combination?

Shareholders should seek their own independent professional advice about the taxation consequences of the Scheme. The Australian Tax Office (ATO) Class Order relating to the Scheme is available online at www.tattsgroup.com/investor-relations/shareholders/combination. Please also refer to section 15 of the Tatts Scheme Booklet which includes a summary example of the tax implications on page 102. A tax calculator guide has been provided at www.tattsgroup.com/investor-relations/shareholders to assist shareholders to calculate the cost base of their New Tabcorp Shares.

5. What has happened to my Tatts shareholder elections?

All Tatts shareholder elections, excluding Tax File Numbers and Dividend Reinvestment Plan instructions, have been transferred from the Tatts share register to Tabcorp and will apply to the new shareholding in Tabcorp.  Shareholders wishing to lodge their TFN or exemption, or participate in Tabcorp’s Dividend Reinvestment Plan, can use the online share registry facility at http://www.linkmarketservices.com.au contact the share registry.

6. Will I need to update my bank account details?

No. Tabcorp will pay dividends into the same shareholder bank accounts used by Tatts to pay Tatts dividends.  Banking instructions provided by Tatts shareholders have been transferred to Tabcorp and recorded on the Tabcorp share register.

7. How do I update my shareholding details?

Tabcorp shareholders can update their registered details by using the Link Market Services website at www.linkmarketservices.com.au. Shareholders can use this online facility to conduct standard shareholding enquiries and transactions, including:

  • Update registered address
  • Notify Tax File Number/Australian Business Number or exemption
  • Participate in the Tabcorp Dividend Reinvestment Plan
  • Lodge or update banking details

To log into your Tabcorp shareholding, you will need your postcode and your Securityholder Reference Number or Holder Identification Number shown on your Tabcorp holding statement mailed on 28 December 2017.

8. How do I contact the Tabcorp share registry?

Shareholders can call the Tabcorp share registry on 1300 665 661 (within Australia) or +61 2 8280 7418 (outside Australia), or contact Link using the following details:

Link Market Services Limited

Locked Bag A14

Sydney South NSW 1235

Australia

Facsimile 02 9287 0303

Email tabcorp@linkmarketservices.com.au

Website www.linkmarketservices.com.au 

TATTS BONDS

1. What happened to Tatts Bonds in the combination?

On Implementation of the Scheme, Tatts Bonds remain quoted on the ASX under the code TTSHA. Tatts Bonds are expected to continue to operate as normal, including with respect to quarterly interest payments.

2. What is the Change of Control Event Notification?

As a consequence of the Tabcorp-Tatts combination, all the shares in Tatts were transferred to Tabcorp, which is a Change of Control Event under the terms of issue of the Tatts Bonds. This Change of Control Event occurred on the Scheme Implementation Date, 22 December 2017. Tatts informed Bondholders of this Change of Control Event in writing.

3. What is the Change of Control Event Redemption Exercise Notice?

Upon the Change of Control Event occurring, Bondholders could choose to redeem their Tatts Bonds at the face value of $100 plus $0.645 being the quarterly interest accrued to 22 February 2018 (the Change of Control Event Redemption Date). Tatts sent to Bondholders a notification informing Bondholders of their entitlement to exercise their rights to redeem their Bonds. Redemption of Tatts Bonds at this time was entirely optional.

4. When do Change of Control Event Redemption Exercise Notices need to be returned?

If a Bondholder wished to redeem their Bonds, then a signed and completed Redemption Exercise Notice must have been received by the Tatts Bonds registry no later than 24 January 2018. Redemption payments were made on 22 February 2018.

5. When do Tatts Bonds mature?

Tatts Bonds mature on 5 July 2019, unless redeemed earlier.

Tatts Group Limited Scheme of Arrangement Booklet

  • Supplementary Scheme Booklet

    28/11/2017
  • Scheme Booklet

    18/09/2017

ATO Class Ruling: Tatts Group Limited Scheme of Arrangement and payment of Special Dividend

Shareholders should seek their own independent professional advice about the taxation consequences of the Scheme. The Australian Tax Office (ATO) Class Order relating to the Scheme was released on 24 January 2018 and can be found following the link provided below. Please also refer to section 15 of the Tatts Scheme Booklet which includes a summary example of the tax implications on page 102.

ATO Class Ruling: Tatts Group Limited Scheme of Arrangement and payment of Special Dividend

  • ATO Class Ruling

    30/01/2018
A CGT Tax Calculator is provided below to assist shareholders to calculate the capital gain implications of the scheme of arrangement

CGT Tax calculator guide

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