23 February 2021
Suspension of Dividend Reinvestment Plan
Perenti (ASX: PRN) (Perenti or the Company) advises the suspension of the Dividend Reinvestment Plan (DRP) with effect from 16 March 2021 until further notice.
As announced on 25 March 2020, in response to the uncertainty associated with the COVID-19 pandemic, Perenti implemented decisive and prudent capital management initiatives, including the reactivation of the DRP. Since then, the Company has successfully employed a range of strategies to protect employees and the business from the most severe impacts of COVID-19, allowing the delivery of continuous service to clients. With a continuous focus on capital and liquidity management the Company generated impressive returns, ending the first half of financial year 2021 with a strong cash balance and available liquidity. As a consequence, the Company believes it is no longer necessary to maintain the DRP and advises it will suspend the DRP.
The rules of Perenti's DRP state that the DRP may be suspended or terminated by the Directors at any time after giving 14 days' notice in writing to all participants in the DRP. A copy of the letter giving notice to DRP participants is attached and will be sent to participants shortly.
While the DRP is suspended, participants in the DRP will receive cash dividends, including for the dividend to be paid on 7 April 2021. Should the Directors reinstate the DRP in the future, at that time the Directors may determine that each participant's existing DRP status is also reinstated.
A copy of the DRP rules was attached to Perenti's ASX announcement released on 6 April 2020.
Authorised by:
Mark Norwell
Managing Director and CEO
-ENDS- | |
Investor enquiries: | Media enquiries: |
Jeffrey Sansom | John Gardner |
Group Manager - Investor Relations | Managing Director |
Perenti | Citadel-MAGNUS |
+61 473 089 856 | +61 413 355 997 |
Level 2, 202 Pier Street | PO Box 8286 | T +61 8 9421 6500 |
Perth WA 6000 | Perth WA 6849 | Einfo@perentigroup.com |
Australia | Australia |
Perenti Global Limited ABN 95 009 211 474 (ASX: PRN) (Perenti)
perentigroup.com
Perenti is a diversified global mining services group with businesses in surface mining, underground mining and mining support services. The Group was founded in Kalgoorlie in 1987 and is today one of the world's largest companies providing surface and underground mining at scale. Headquartered in
Australia, Perenti has operations and offices in 13 countries across four continents, employs around 8,000 mining professionals and is creating enduring value and certainty for clients on some of the world's largest mining projects.
Dear Participant in the Perenti Global Limited Dividend Reinvestment Plan
Dividend Reinvestment Plan - suspension
The Perenti Board has determined that Perenti's Dividend Reinvestment Plan (DRP) will be suspended with effect from 16 March 2021 until further notice.
The rules of Perenti's DRP state that the DRP may be suspended by the Directors at any time after giving 14 days'
notice in writing to all participants in the DRP.
While the DRP is suspended, you will receive any Perenti dividends (including the Perenti dividend to be paid on 7 April 2021 if you are entitled to that dividend) in cash by way of electronic transfer to your nominated bank account.
Please note that shareholders are required to provide valid banking details by the record date for dividend payments to be credited on the dividend payment date. A direct credit form to nominate an Australian bank account and reply paid envelope are enclosed with this letter for this purpose. For individual shareholders wanting to nominate an international bank account, please update via your portfolio athttps://investorcentre.linkmarketservices.com.au.If you have not set up a portfolio, you can register via this link. For overseas shareholders that do not provide a bank account, you will receive future dividend payments by cheque.
Should the Directors reinstate the DRP in the future, at that time the Directors may determine that your existing DRP status will also be reinstated. If you wish to vary your DRP election, you may do so by sending a Notice of Election/Variation to Link Market Services at Locked Bag A14, Sydney South, New South Wales, Australia 1235. Alternatively, you may apply to vary instructions online athttps://investorcentre.linkmarketservices.com.au. Please contact Link Market Services on +61 1300 554 474 for further information.
If you wish to obtain a copy of the DRP rules, you may obtain a copy from Perenti's ASX announcement released on 6 April 2020, from Perenti's website athttps://perentigroup.com/investors/shareholder-services/dividend-information/ or by contacting Link Market Services.
Please contact me if you would like to discuss any of the above matters.
Yours sincerely
Justine Passaportis
Senior Legal Counsel and Company Secretary
CORPORATE OFFICE
Level 2, 202 Pier Street Perth WA 6000 Australia
PO Box 8286 Perth WA 6849 Australia
T +61 8 9421 6500
Einfo@perentigroup.com
perentigroup.com
Perenti Global Limited ABN 95 009 211 474
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Perenti Global Limited published this content on 23 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2021 10:11:06 UTC.