Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  NEW ZEALAND STOCK EXCHANGE  >  Spark New Zealand Ltd    SPK   NZTELE0001S4

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Telecom Corp of New Zealand : Demerger tax ruling for United States shareholders

09/27/2011 | 09:35pm US/Eastern
STOCK EXCHANGE ANNOUNCEMENT

September 28, 2011

Demerger tax ruling for United States shareholders

Telecom is pleased to announce that it has received a private letter ruling from the United States Internal Revenue Service to the effect that the Demerger will qualify as a tax-free distribution to US holders of Telecom shares or Telecom American Depositary Shares for US federal income tax purposes subject to the various qualifications set out in the attached statement.

Further details of this ruling are set out in that attached statement which should be read carefully. This statement updates section 12.4 of the Scheme Booklet which was published on 13 September 2011, prior to the receipt of the private letter ruling.

- ends –

Contact:

For media queries, please contact: Ian Bonnar

Corporate Communications Manager

+64 (0) 27 215 7564

For investor enquiries, contact: Mark Laing

GM Capital Markets

+64 (0) 27 227 5890

Private Letter Ruling Received from United States Internal Revenue Service

Telecom has received a private letter ruling from the United States Internal Revenue Service (the “IRS”) to the effect that the Demerger will qualify as a tax-free distribution to US holders (as defined in the Scheme Booklet, dated September 13, 2010, relating to the Demerger) of Telecom shares or Telecom American Depositary Shares (“ADSs”), for US federal income tax purposes, under Section 355 of the Internal Revenue Code of 1986, as amended (the “US Tax Code”). The private letter ruling provides that, for US federal income tax purposes:

React to this article
Latest news on SPARK NEW ZEALAND LTD
02/10 SPARK NEW ZEALAND : chips in for big beach dream
02/03 SPARK NEW ZEALAND : This one's V. good ; Used vans: Vauxhall Vivaro (from 2014) ..
01/28 SPARK NEW ZEALAND : Astra Wins Family Car Honour at What Car? Awards
01/28 SPARK NEW ZEALAND : Vauxhall Named Top UK Van Maker
01/21 SPARK NEW ZEALAND : GENERAL: SPK: Zero Commission NZ Limited - Unsolicited Offer
01/19 SPARK NEW ZEALAND : BUYBACK: SPK: Spark NZ finishes buyback for 2015 calendar ye..
2015DJSpark New Zealand to Raise Prices for Some Broadband, Landline Plans
2015 GENERAL MOTORS : Vauxhall wins police deal
2015 SPARK NEW ZEALAND : to Acquire 100% Stake in Computer Concepts
2015 V is for victory in a Vivaro ; Vauxhall's Vivaro has been a key player in del..
Advertisement
Income Statement Evolution
More Financials