Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/28/2011 | 03:35am CET
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:

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SPARK NEW ZEALAND LTD
02/20 Spark NZ Seeks Short-Term Pause
02/20 SPARK NEW ZEALAND : seeks court order to freeze merger
02/20 TAKEOVER : SPK: Spark files notice of intention to acquire TeamTalk
02/20 TAKEOVER : SPK: Spark welcomes TeamTalk Board’s engagement
02/20 HALFYR : Spk: spark new zealand limited h1 fy17 results
02/20 GENERAL : SPK: Spark historical financial information
02/20 DIVIDEND : SPK: Spark corrected H1 FY17 dividend payment dates
02/20 DIVIDEND : SPK: SPARK NEW ZEALAND H1 FY17 RESULTS - ASX Appendix 3A.1
02/20 DIVIDEND : SPK: Updated ASX Appendix 3A.1 form
02/20 GENERAL : SPK: Spark seeks stay of Sky TV/Vodafone NZ merger decision
More news
Sector news : Integrated Telecommunications Services - NEC
10:37aDJKKR L P : Telefónica Sells Telxius Stake in Debt Reduction Drive -- Update
10:04aDJTELEFONICA : Agrees on Sale of Up to 40% of Telxius to KKR for $1.35 Billion
08:49aDJVERIZON COMMUNICATIONS : A New Strategy for an Old Company -- WSJ
02/20 SoftBank shares up; sources say company willing to cede control of Sprint
02/17 Spotify-backed Soundtrack Your Brand raises $22 million for expansion
More sector news : Integrated Telecommunications Services - NEC
News from SeekingAlpha
02/16 Spark New Zealand's (NZTCF) CEO Simon Moutter on Q2 2017 Results - Earnings C..
02/15 Spark New Zealand reports 1H results
02/15 Spark New Zealand Limited 2017 Q2 - Results - Earnings Call Slides
2016 Invesco Global Low Volatility Equity Yield Fund A (GTNDX) July Summary
2016 Invesco Global Low Volatility Equity Yield Fund A (GTNDX) June Summary
Advertisement
Financials ( NZD)
Sales 2017 3 557 M
EBIT 2017 574 M
Net income 2017 389 M
Debt 2017 930 M
Yield 2017 7,16%
P/E ratio 2017 16,21
P/E ratio 2018 15,65
EV / Sales 2017 2,06x
EV / Sales 2018 2,04x
Capitalization 6 388 M
More Financials
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 3,51  NZD
Spread / Average Target 0,47%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Simon Paul Moutter Managing Director & Executive Director
Mark John Verbiest Non-Executive Chairman
Mark Beder Chief Operating Officer
David Chalmers Chief Financial Officer
Charles Sitch Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
SPARK NEW ZEALAND LTD4 574
VERIZON COMMUNICATIONS..-7.85%200 530
NIPPON TELEGRAPH AND T..-2.87%88 127
DEUTSCHE TELEKOM AG-3.03%80 466
TELEFONICA SA5.71%50 144
SINGAPORE TELECOMMUNIC..9.07%45 652
More Results