Endowment Warrant Report -Outstanding amt 31/10/00
Document date:
Thu 09 Nov 2000
Published:
Thu 09 Nov 2000 00:00:00
Document No:
222639
Document part:
A
Market Flag:
N
Classification:
MACQUARIE BANK LIMITED 2000-11-09 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++
Pursuant to an Offering Circular dated 10 October 1997, Macquarie
Bank Limited has issued Endowment Warrants over the following
portfolio of ordinary shares:
STOCK NUMBER IN PORTFOLIO
Amcor Limited ("AMC") 12
Australia & New Zealand Banking Group Ltd ("ANZ") 10
The Broken Hill Proprietary Company Limited ("BHP") 5
Brambles Industries Limited ("BIL") 3
Boral Limited ("BLD") 12.5
Commonwealth Bank of Australia ("CBA") 6
Coca-Cola Amatil Limited ("CCL") 6
Coles Myer Limited ("CML") 15
CSR Limited ("CSR") 20
Fosters Brewing Group Limited ("FBG") 38
Lend Lease Limited ("LLC") 6
National Australia Bank Limited ("NAB") 5
The News Corporation Limited ("NCP") 16
Origin Energy Limited ("ORG") 12.5
Paperlinx Limited ("PPX") 4
Publishing and Broadcasting Limited ("PBL") 12
Rio Tinto Limited ("RIO") 4
Westpac Banking Group Limited ("WBC") 12
WMC Limited ("WMC") 13
Woolworths Limited ("WOW") 24
Woodside Petroleum Limited ("WPL") 9
As Warrant-Issuer, Macquarie Bank Limited provides the following
information in relation to the period ending 31 October 2000.
These warrants have been adjusted due to a Scheme of Arrangement by
BHP under which they floated the long steel products division, after
receiving shareholder and court approval.
On 31 August 2000 BHP announced its intention to float its steel long
products business via a Capital Reduction and Scheme of Arrangement.
Under the terms of the Capital Reduction the share capital of each
fully paid BHP share was reduced by $0.66. Under the Scheme of
Arrangement, the proceeds of the Capital Reduction were compulsorily
applied to the transfer of OneSteel Limited ("OneSteel") shares to
holders of fully paid BHP shares in the ratio of one OneSteel share
for every four fully paid BHP shares held.
The scheme received shareholder approval on 17 October 2000 and court
approval on 18 October 2000.
Clause 4.1 of the Terms of Issue of the Endowment Warrants state that
the cash return of capital proposed by BHP under the scheme is to be
treated as a Reduction Amount.
The value of the Reduction Amount that has been applied to the
Outstanding Amount of the Portfolio Endowment Warrants is one quarter
of the value of the OneSteel shares multiplied by the number of BHP
shares in the Portfolio. The value of the OneSteel shares is defined
as their weighted average price, in accordance with clause 4.2(a)
terms of the Offering Circular.
The Reduction Amount applied to the Outstanding Amount is shown in
the table below.
The number of BHP shares in the underlying parcel for this Endowment
Warrant is unaffected by this scheme.
For the period from 1 October 2000 to 31 October 2000, the following
Reduction Amounts were paid in respect of the shares in the
Portfolio.
ASX SHARE REDUCTION PAYMENT DATE NUMBER IN REDUCTION
CODE AMOUNT PER PORTFOLIO AMOUNT
SHARE
AMC $0.190 4 Oct 2000 12 $2.28
BHP $0.253 31 Oct 2000 5 $1.27
BIL $0.410 12 Oct 2000 3 $1.23
BLD $0.090 13 Oct 2000 12.5 $1.13
ORG $0.060 23 Oct 2000 12.5 $0.75
CBA $0.720 9 Oct 2000 6 $4.32
NCP $0.015 18 Oct 2000 16 $0.24
WOW $0.130 5 Oct 2000 24 $3.12
TOTAL $14.3324
As at 31 October 2000, the Outstanding Amount of each Portfolio
Endowment Warrant (and for the Specified Number of 1,000) was as
follows:
NUMBER OF WARRANT REDUCTION REDUCTION OUTSTANDING
WARRANTS CODE DATE AMOUNT AMOUNT
1,000 PEWEMF 31 Oct 2000 $14.3324 $1,276.757
1 PEWEMF 31 Oct 2000 $0.01433 $1.27676
In accordance with Page 54 of the Offering Circular dated 10 October
1997, the Base Rate that will apply to all series of Endowment
Warrants issued by Macquarie Bank Limited, pursuant to that Offering
Circular, from 3 October 2000 until and including 2 January 2001 is
6.5367% per annum.
If you require further information on this matter, please call me on
8232 4042.
R Dixon
MANAGER EQUITY MARKETS