P2001/148
Chess Bulletin
Date : 2 July, 2001
Key topics
1. Takeover bid by Wesfarmers
Retail Pty Ltd, a wholly owned subsidiary of Wesfarmers
Limited, in respect of the ordinary shares in Howard
Smith Limited
Reading List
Client Advisers (Brokers)
Non Broker Participants
Institutions
Operations Managers (back office)
Listing Officers
ASX contact
Tim Hogben
Telephone
(02) 9227 0793
ASX Settlement and Transfer
Corporation Pty Ltd
ABN 49 008 504 532
Exchange Centre
20 Bridge Street
Sydney NSW 2000
PO Box H224
Australia Square NSW 2000
Telephone 1800 814 051
Facsimile 61 2 9227 0265
Internet: http://www.asx.com.au
DX 10234 Stock Exchange Sydney
TAKEOVER BID BY WESFARMERS RETAIL PTY LTD (“WESFARMERS”), A
WHOLLY OWNED SUBSIDIARY OF WESFARMERS LIMITED, IN RESPECT OF THE
ORDINARY SHARES IN HOWARD SMITH LIMITED (“HOWARD SMITH”)
This bid has been announced to the market. This Bulletin provides specific information to Participants in relation to the bid and details the acceptance process through CHESS.
Bidder Details
Bidder Wesfarmers Retail Pty Ltd
Agent Computershare Investor Services Pty Limited,
Perth
Target Howard Smith Limited
Target ASX Code SMI
Code/ SMI001 – $12.00 cash and 2 Wesfarmers
Consideration shares for every 5 Howard Smith shares
Bid Terms
Bid Start Date
Bid Close Date
28 June 2001
31 July 2001
CHESS will process acceptance messages until 7:00pm AEST on 31 July 2001 or in the event that the bid is extended, such other time as may be notified by
Wesfarmers to the market.
Wesfarmers’ bid is conditional and a shareholder may accept the bid for all of their
Howard Smith shares held at the time of acceptance.
No responsibility is accepted for any inaccuracies contained in the matter published.
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P2001/148
General Information
Participants should refer to Section 13 of the CHESS Procedure Guidelines for Participants and Section 16 of the SCH
Business Rules for further information concerning the processing of Takeover Acceptance Messages for a CHESS Holding of securities. Some of these issues are summarised below.
• = A Participant must initiate acceptance of a bid by transmission of an EIS type ‘031’ message (Takeover
Acceptance) where the securities in question are held in a CHESS Holding. The Participant will receive a ‘032’ message (Effected Takeover Acceptance) from CHESS in response.
• = In addition to the electronic notification to the Participant, paper notification will be sent directly to the Holder as securities are reserved in a bid-accepted subposition. Any change to the balance of securities in subposition will generate further electronic advice to the Participant and paper advice to the Holder.
• = Where a Participant receives instructions from a Sponsored Holder, the Participant is required under the SCH
Business Rules to initiate acceptance of a bid:
= if the Holder specifies the time when or by which the bid must be accepted, in accordance with those instructions; otherwise
= by End of Day on the date of receipt of instructions from the Holder. Where the bid closes on the date of receipt of instructions then prior to the close of the bid.
• = Participants should therefore retain, as a minimum, a record of the date on which instructions to accept a bid are received from a Sponsored Holder.
Hard copy bulletins will be discontinued from 1 September 2001. Bulletins can be delivered electronically in real time to Participating
Organisations and Non-Broker Participants by registering with ASX Online – https://www.asxonline.com
. For details, contact the ASX Online
Administrator for your firm. Other subscribers should contact participants@asx.com.au
to ensure email delivery.
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