Reinvestment Plan

Dividend Reinvestment Plan 

DRP CURRENTLY ACTIVATED – YES

 

Questions and Answers

 

What is the Tassal Group Limited Dividend Reinvestment Plan?
The DRP is a convenient way for you to increase your shareholding in the Company by reinvesting your dividends in additional shares free of brokerage, commission, stamp duty and other costs. Participation in the DRP is entirely voluntary and you may join and leave the DRP whenever you wish.

 

Who can participate?

All shareholders who are Australian residents can participate. Non-residents may be subject to laws which prevent participation. Holders of shares issued under any Employee Share Ownership Scheme operated by the Company can only participate in respect of those shares after they have repaid their share loan (if any).

 

Is participation optional?

Yes. The decision is entirely yours.

 

Can I participate partially in the DRP?

Yes, by nominating a specific number of your shares or a percentage of your shares, part of your dividend may be reinvested in new shares. Your dividend entitlement on any shares not participating in the DRP will be paid in cash. Participation on the nominated number or percentage of your shares will continue until you vary your participation by lodging a Dividend Reinvestment Plan Application Form or terminate your participation by lodging a Dividend Reinvestment Plan Termination Form.

Full participation, on the other hand, maximises the benefits of DRP, as all dividends on shares held now or in the future will be reinvested in new shares.

 

How do I participate in the DRP?

Complete the Dividend Reinvestment Plan Application Form specifying whether you would like full or limited participation.

Should you select limited participation, please nominate either how many of your shares are to participate or the percentage of your shares which are to participate. The Dividend Reinvestment Plan Application Form should then be returned to the Company’s Share Registry in the envelope provided.

 

When will my participation begin?

Participation begins with the first dividend payment after receipt of your Dividend Reinvestment Plan Application Form.

The form must be received by 5.00 p.m. E.S.T. on the Record Date for the relevant dividend.

 

What happens if I have more than one shareholding?

If you wish to participate in the Dividend Reinvestment Plan then you will need to lodge a separate Dividend Reinvestment Plan Application Form for each shareholding registered under different names and/or a different Security Holder Reference Number or Holder Identification Number.

 

Can I change my participation at any time?

Yes. Simply complete a fresh Dividend Reinvestment Plan Application Form (to vary your participation) or complete a Dividend Reinvestment Plan Termination Form (to terminate your participation) as enclosed with these Terms and Conditions or request a form from Computershare Investor Services Pty Limited [Ph. 1300 850 505].

The notice will be effective from the next dividend payment but the form must be received by 5.00 p.m. E.S.T. on the Record Date for the relevant dividend.

 

At what price will the shares be allotted?

Shares will be allotted at the weighted average market price (rounded to the nearest cent) of all Tassal Group Limited shares sold on the Australian Stock Exchange during the five trading days immediately following the Record Date for determination of the relevant dividend less such discount (if any) as the directors determine from time to time. The applicable discount (if any) will be advised to shareholders at the time each dividend is announced. In the event of there being no trade in ordinary Tassal Group Limited shares during that period, or if the Directors consider any relevant market selling price does not represent a fair market value of such Shares, the Directors will at their discretion fix a price which in their opinion is reasonable in the circumstances.

 

What will it cost me to participate?

You will not be charged brokerage fees, commission or stamp duty for any allotment of shares under the DRP. All administration costs of the DRP will be met by Tassal Group Limited.

 

Can I sell my shares when I choose?

You can sell any or all of your shares at any time, including your DRP shares. If you are participating partially in the DRP by reference to a specific number of your Shares then you are deemed to dispose of your non-DRP shares first, unless you notify us to the contrary and, if you are participating partially in the DRP by reference to a percentage of your Shares then your participation will continue on the basis of that percentage applied to your reduced shareholding, unless you notify us to the contrary. To notify a variation of your participation, simply lodge a Dividend Reinvestment Plan Application Form by 5.00 p.m. E.S.T. on the Record Date for the relevant dividend.

 

Should you want to sell all of your shares shortly before the closing date for the determination of your dividend entitlements, you should inform your stockbroker that your shares are participating in the DRP. You should also immediately send a Dividend Reinvestment Plan Termination Form to Computershare Investor Services Pty Limited advising of your withdrawal from the DRP. This will avoid a further small parcel of shares being issued to you under your DRP allotment.

 

 

What about taxation?

For Australian residents, dividends reinvested under the Plan will be assessable for income tax and, under the present dividend imputation legislation, credits will be available in respect of franked amounts.

 

Shares allotted under the Plan could be subject to the capital gains tax legislation.
The Company takes no responsibility for the taxation liabilities of participants and if you are uncertain as to your taxation position, you should consult your own adviser.

 

After each DRP issue you will be sent a Participant’s Statement. The Participant’s Statement will show:

the number of DRP participating shares held prior to the issue;

the amount of the latest dividend;

the issue price of the DRP shares allotted under the dividend; and

the new total holding including the latest DRP issue.

 

What rights attach to the shares?

Shares issued under the DRP will rank equally in every respect with existing issued fully paid ordinary shares of the Company and will participate as DRP Shares in all dividends subsequently declared or paid unless varied by the provision of a Notice of Variation by the participating shareholder.

 

Can the DRP be modified or cancelled?

The DRP may be varied, suspended or terminated by the Directors of the Company at any time by giving participants written notice as provided by the Dividend Reinvestment Plan Terms and Conditions.