The information below is a summary only. Before investing in any
security you should consult the full prospectus or a financial
advisor.
| ASX CODE: |
SGBPB |
| Issue type: |
Non-cumulative, resetting, non-redeemable, fully paid, convertible
Preference shares (or Preferred Resetting Yield Marketable Equity
Securities or PRYMES) |
| Country: |
Australia |
| Issue currency: |
AUD |
| Number on issue: |
3,000,000 |
| Issue Price: |
$100 per PRYMES |
| First Reset Date: |
21 February 2006 |
| Dividend Rate/Terms: |
A rate fixed for the first five years of the higher of 6.25% or
the rate which is 0.75% over five year Swap Rate on the allotment date.
The rate applicable for the first 5 years is 6.36%p.a.
The Dividend Rate will be reset at each Dividend Reset Date.
|
| Dividend Payment Dates: |
Payable half yearly in arrears on 20 February and 20 August. The
first dividend is payable on Monday, 20 August 2001.
Payment of Dividends is at the discretion of Directors. Directors may
only declare a Dividend if St. George complies at the time of
declaration with APRA's then prevailing prudential standards
and there are funds legally available for the payment of dividends. |
| Franking: |
Dividend rate assumes full ranking. If a dividend is unfranked
or partially franked, the dividend will be increased to compensate
for the unfranked amount. |
| Resale Facility and Conversion: |
Before each Dividend Reset Date, Holders may offer for sale some
or all of their PRYMES to the Resale Agent through the Resale Facility
for the Issue Price (less Disbursements). Holders may also have
elected at that time to convert to Ordinary Shares any PRYMES not
sold through the Resale Facility.
St George may also elect to convert the PRYMES into Ordinary Shares
at each Dividend Reset Date. In certain specified circumstances,
St George or Holders may convert at other times. |
| Conversion Ratio: |
Each PRYMES will convert into one Ordinary Share, and at which time
the Holder will also be allotted the number of additional Ordinary
Shares determined in accordance with a formula set out in the Issue
terms. |
| Ranking: |
Dividends on PRYMES will be paid in priority to any dividends
declared on Ordinary Shares.
On a winding-up of St. George, PRYMES will rank for return of capital
(not exceeding the Issue Price) and payment of any Dividend declared
but unpaid behind all creditors and depositors of St. George but
ahead of Ordinary Shares. |
