The changes are:
- DRP election date – in accordance with revised ASX Listing Rules, the last election date for participation in a DRP will be moved to the business day following the Record Date for a dividend. As a result of the new election date, the DRP period will be correspondingly moved back by one day;
- DRP price rounding – setting the calculation of the DRP Price of Shares to be at two decimal places to be consistent with the price at which shares are allocated, therefore avoiding rounding discrepancies. The Directors retain the right to determine a different rounding at a later time as appropriate; and
- Donation of DRP residuals allowing any cash balance of less than A$10 when a shareholder leaves the DRP to be donated to charities nominated by the Company. Origin’s current DRP Rules stipulate that residual amounts held in a shareholder’s DRP account are carried forward without interest. If a shareholder sells their entire shareholding, or ceases to participate in the DRP, that residual balance is then paid out to the relevant shareholder by cheque. This payment process is both costly and time consuming. This amendment will take effect from 1 July 2014, to allow shareholders time to change their DRP preferences if they wish to do so.
If shareholders would like to change their current participation in the DRP, please contact the Company’s share registry:
Boardroom Pty Limited
Tel: 1300 664 446 (within Australia)
Tel: +61 2 8016 2896 (outside Australia)
Fax: +61 2 9279 0664
Senior External Affairs Manager
Ph: +61 2 9375 5834
Mobile: +61 417 851 287
General Manager, Capital Markets
Ph: +Ph: +61 2 8345 5308
Mobile: +61 417 230 306
Origin Energy Limited (Origin) today announced three changes to the Company’s Dividend Reinvestment Plan (DRP). The revised rules are attached to this release.