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PROMINA GROUP LIMITED (PMN)

Delisted from ASX 29/06/2007


SHARE PRICES

2007 2006 2005 2004 2003   ALL

Former (or subsequent) names


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Our website ranking of PMN: rating 5
(5 out of 5)  

REGISTRY:
Computershare, Level 3, 60 Carrington Street, Sydney NSW 2000
Tel : +61 2 8234 5000
Fax : +61 2 8235 8150
RegistryWebsite RegistryEmail

Company details


Address: Level 15 , 465 Victoria Avenue , CHATSWOOD , NSW, AUSTRALIA, 2067
Tel:  (02) 9978 9000 Fax: (02) 9978 9807

Date first listed: 12/05/2003       Date delisted: 29/06/2007
Company Secretary: Ms Judith Howard
Sector: Insurance Industry Group: 
Activities: Insurance and financial services organisation in Australia and New Zealand

News & Events

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delisted following the merger of the company with Suncorp-Metway Limited and redemption of the company's reset preference shares29/06/2007
we understand that in connection with the merger of Promina with Suncorp, the final factor was unchanged from the indicative adjustment factor announced on 12 March 2007 - on implementation of the scheme, for each Promina share, Promina ordinary shareholders received $1.80 cash and 0.2703 Suncorp Shares (Suncorp subsequently received advice from the Australian Taxation Office which confirmed that the market value of a Suncorp share for taxation purposes, at the merger date of 20 March 2007, was $21.1043)20/03/2007
the company has paid a $100,000 fine following an investigation by the Australian Securities and Investments Commission (ASIC) into an alleged failure to comply with the continuous disclosure obligations contained in the Corporations Act - the company failed to inform ASX that it had received a proposal from Suncorp-Metway Limited to acquire all the ordinary shares of Promina20/03/2007
Suncorp-Metway Limited (Suncorp) advises that it has today allotted 280,279,063 fully paid ordinary shares to Promina scheme shareholders - holding statements for the shares, together with payment advices for the cash component of the scheme consideration, have been despatched today20/03/2007
for capital gains tax purposes scrip-for-scrip rollover is available to the extent that Promina shareholders exchanged their shares for Suncorp shares but rollover relief is not available for the cash amounts received - the capital gain/loss is calculation depends on if investors choose roll-over (then they work out their capital gain - if they received any cash - by subtracting a portion of the cost base of their Promina shares from the value of cash that they received) and if roll-over does not apply (then investors work out their capital gain or loss by comparing the total cost base of their Promina shares with the total value, as at the disposal date, of the cash and/or shares that they received) - the acquisition cost of new Suncorp shares calculation depends on whether investors choose roll-over (they work out the acquisition cost of their new Suncorp shares by allocating a portion of the cost base of their Promina shares to it) or to the extent that roll-over does not apply (the acquisition cost of investors' new Suncorp shares is $20.4218 per share) - the disposal date of the Promina shares was 20 March 200720/03/2007
shares (not preference shares PMNPA) suspended from quotation in relation to the scheme of arrangement and acquisition by Suncorp Metway13/03/2007
on 16 June 2006, the company made a return of capital to all shareholders registered on 1 June 2006 (the record date) - the capital return was $0.15 per ordinary share - this payment was a capital payment (it was not classed as a dividend for any purpose and had no dividend component) - as a result of the return of capital, shareholders must adjust the cost base and reduced cost base of their Promina shares - the capital return is a capital gains tax (CGT) event that may have resulted in a capital gain - depending on the outcome, shareholders may have to include some details in their 2005-06 tax return16/06/2006
on 20 June 2005 Promina Group Ltd made a return of capital to shareholders of $0.23 per share - according to the Australian Taxation Office, shareholders needed to reduce the cost base and reduced cost base of each share by $0.23 - for each share that had a cost base of less than $0.23, the difference was a capital gain in 2004-0520/06/2005

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Directors' share transactions (last 5)

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Purchases Sales



DATEDIRECTORNATURENUMBERPRICEAMOUNT
08/09/2006Anna HynesOn market5,000$5.680$28,400
09/05/2006Paula DwyerOn market20,000$5.710$114,200
07/03/2006Anna HynesOn market3,000$5.360$16,080
06/03/2006Anna HynesOn market4,000$5.390$21,560
28/02/2005Leo TuttOn market10,000$4.998$49,982

Directors & Executives (current)


NAMETITLEDATE OF APPT
Leo TuttChairman
Michael WilkinsManaging Director, CEO
Harold BentleyCFO
Geoffrey RickettsIndependent Director
Ewoud KulkIndependent Director
Paula DwyerIndependent Director
Allan DiplockIndependent Director
Anna HynesNon Exec Director
Michael BlairGeneral Counsel

Directors & Executives (former)


NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION