Participants are advised that on 7 August 2019, SUN announced a proposed capital management initiative to distribute surplus funds from the sale of the Australian Life business. The initiative consists of: a return of approximately $506 million of ordinary share capital, to be effected by the Company paying each ordinary shareholder 39 cents per share held, to be paid on 24 October 2019 (Capital Return); and an equal and proportionate share consolidation relating to the Capital Return, through the conversion of each ordinary share into 0.971 shares.

Following approval of the return of capital and share consolidation;

• post-consolidation shares will trade on a deferred settlement basis (ASX Code: SUNDC), from 30 September 2019 to 08 October 2019 (inclusive), and shares will resume trading on a T+2 basis (ASX Code: SUN) from 09 October 2019;

 • the capital return will be effected by way of a return of capital to each registered shareholder of the Company as at 01 October 2019 of A$0.39 per share (the “Capital Return”);

•  the share consolidation will involve the conversion of every one share on issue into 0.971 shares in the Company (“Share Consolidation”).

For more information about the corporate action and the timetable, please refer to the market announcements of SUN.

What do I need to do by When?

Participants are advised that ASX is not able to disseminate corporate action messages in relation to the Capital Return, therefore trading on ASX Trade will not be tagged XC (ex-return of capital).  The corporate action message is disseminated via a Reconstruction and the trading on ASX Trade will be tagged as Reconstructed (RE) from 30 September 2019.

Participants are reminded that CHESS basis of movement overrides with respect the Capital Return will not be possible and as a result all pre-reconstruction transfers that occur up until the record date will effectively be transferred on a Cum-Capital Return basis.

Need more information?

Issued by

Cheng Zhang, Equity Operations

Contact information

Cheng Zhang
1800 814 051
chesshelp@asx.com.au

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