The information below is a summary only. Before investing in any
security you should consult the full prospectus or a financial
advisor.
| ASX CODE: |
AMZG |
| Issuer: |
Amcor Investments (New Zealand) Limited - a wholly owned
subsidiary of Amcor Limited. |
| Issue type: |
Perpetual , non-cumulative, subordinated, convertible, reset,
unsecured notes ( PACRS) |
| Guarantor: |
Amcor Limited |
| Issue currency: |
AUD |
| Number on issue: |
3,000,000 |
| Issue price: |
$100.00 |
| Interest rate/terms: |
A non-cumulative interest payent at a rate per annum of the
Swap Rate plus 2.5 % applied to the face value of the PACRS and
fixed until the first Reset Date.
The interest rate may be increased or decreased on each Reset Date.
Interest will not be payable in certain circumstances which are
discussed in the Prospectus. |
| Interest payment dates: |
Interest will be payable semi-annually in arrears on 30 April
and 31 October and on the Conversion date. The first interest
payment date will be on 31 October 2001. |
| First reset date: |
30 April 2006 |
| Conversion terms: |
On Reset Dates some or all of the outstanding PACRS may be
converted into Ordinary Shares at the option of Holders. The
Issuer may convert some or all of the outstanding PACRS at
any time in the six months before a Reset Date. Conversion
may also occur at the option of Holders or the Issuer at
other times upon the occurrence of certain events.
Each of the PACRS is convertible into a number of Ordinary Shares
claculated with reference to the Conversion Discount and the volume
weighted average sale price of Ordinary Shares sold on the ASX
during the 20 Business Days immediately preceding the Conversion Date.
The number of Ordinary Shares issued on conversion will be subject to
a minimum of approximately 10.26 per PACRS and a maximum of 100 per
PACRS, subject to certain adjustments detailed in the Prospectus.
The minimum conversion limit is based on a maximum conversion price
of $9.75 per Ordinary Share (after adjustment for the Conversion
Discount), while the maximum conversion limit is based on a minimum
conversion price of $1.00 per Ordinary Share (after adjustment for
the Conversion Discount of 5.00%). |
| Reset dates: |
Certain terms, including the Coupon Rate, conversion terms and the
Conversion Discount, may be reset by the Issuer on eash Reset Date.
The first Reset Date will be 30 April 2006 and thereafter as
determined by the Issuer. |
| Ranking: |
Interest payments will be paid in priority to any dividends
declared on shares of the Issuer or Amcor. in a winding up, the
PACRS will rank for repayment of capital and interest behind all
unsubordinated creditors of the Issuer and Amcor and rank equally
with other unsecured, subordinated creditors of the Issuer and Amcor. |
