SKY Network Television Limited (SKY) advises that it will pay a fully imputed
interim dividend of 15.0 cents per share to shareholders on its register on
15 February 2017 (Record Date), with payments to be sent to shareholders on
22 February 2017.
This dividend is being declared before release of SKY''s interim results for
the six months ended 31 December 2016 to enable payment of a dividend prior
to the proposed merger with Vodafone New Zealand Limited (Vodafone NZ),
completion of which remains subject to satisfaction of certain conditions.
The Board notes that under the terms of the sale and purchase agreement
relating to the merger with Vodafone NZ (SPA), SKY would, in the absence of
an amendment, only have been entitled at this time to pay a dividend of up to
10.0 cents per share to shareholders. Accordingly, SKY and Vodafone have
agreed an amendment to the terms of the SPA to allow the 15.0 cent dividend
to be paid. As part of that amendment agreement, if the merger with Vodafone
NZ proceeds, the cash portion of the purchase price payable by SKY for
Vodafone NZ will increase to reflect the 5.0 cents per share increase in the
dividend that will be paid to SKY''s existing shareholders before the merger.
Ends
For further information please contact:
Jason Hollingworth
Chief Financial Officer
SKY Network Television Limited
(09) 579 999 mob: 021 312 928
jhollingworth@skytv.co.nz
End CA:00296151 For:SKT Type:DIVIDEND Time:2017-01-31 08:48:06