SUMMARY OF KINA ASSET MANAGEMENT DIVIDEND
REINVESTMENT PLAN
What is the dividend reinvestment plan?
The Plan is a convenient way for you to increase your shareholding in Kina Asset Management Limited (KAML) by reinvesting some or all of your dividends in additional shares.
The following is an extract of the terms and conditions (Rules) which relate to the Plan.
1. ELIGIBILITY
Only Shareholders who have a Papua New Guinea registered address are eligible.
2. PARTICIPATION
Participation in the Plan is voluntary, however there are some limits. A shareholder must have a minimum of 500 shares to participate in the plan.
You can participate in respect of all the shares (full participation) registered in your name or some of the shares (partial participation) registered in your name, as at each record date for a dividend.
If you are a partial participant, dividends on that part of your shareholding that does not participate in the Plan will be paid to you in cash.
3. PRICE
Shares will be issued or transferred at a price the net tangible asset backing per share.
4. NUMBER OF SHARES
The number of Shares that may be allotted to a Shareholder in respect of any dividend paid or payable will be calculated as follows:
N = (D-T)/P
Where:
N: is the number of Shares which may be allotted to a Shareholder
D: is the amount of the dividend in kina paid or payable to a Shareholder’s Plan Shares (if any) at the Record Date,
T: is the total amount of withholding tax together with any other amount KAML is required or is entitled to withhold or retain (including without limitation those moneys that KAML is entitled to retain pursuant to its Constitution); and
P: is the Price
5. ADMINISTRATION COSTS
All administration costs of the Plan are met by KAML
6. TAX
All shareholders should seek independent advice on the financial and taxation implications of the Plan.
7. STATEMENTS
Following each dividend payment, you will be sent a statement that sets out the number of shares (if any) allotted to you under the Plan.
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