本帖最后由 IRG 于 2013-4-16 09:48 编辑
MightyRiver Power – An overview
• One of New Zealand’s largestelectricity companies and produces about 17% of New Zealand’s electricity • More than 90% of itselectricity production is from renewable sources and its Core business based onhydro and geothermal generation • Sells electricity to morethan 390,000 customers and supplies nearly 1-in-5 New Zealand homes andbusinesses, through multiple channels and retail brands, IncludingMercury Energy • First internationalinvestment project operational in March 2012 • Overall Energy Company of theYear 2012 and 2010, and Energy Retailer of the Year 2011, at the DeloitteEnergy Excellence Awards
Bonus offer New Zealand retail investors will receive one loyalty bonus share for every 25 shares they hold for two years from the offer, up to a maximum of 200 bonus shares. For an investor who buys $2000 worth of shares, that equates to $80 or around 4 per cent. As pointed out in the prospectus the investors will not be taxable on the receipt of the bonus shares. Although the financial arrangements rules apply to the agreement to purchase the Shares (including the Loyalty Bonus Shares), IRD has issued a ruling confirming no income arises to the investor under those rules. If the 4% is added on top of the implied cash dividend the return on the shares would be around 8% which is much higher than what the investors could get by keeping their money in bank.
Risks The principal risks that mayimpact on Mighty River Power’s business or financial results, and which couldreduce or eliminate the value of your shares or the returns on them, include: • The availability of the fuel(mainly water, geothermal fluid and gas) that Mighty River Power requires togenerate electricity may reduce for a wide number of reasons; • If the Tiwai Point Aluminiumsmelter were to significantly reduce its electricity consumption or ceaseconsumption altogether, the resultant drop in demand could lead to a sustainedreduction in electricity prices in general; • The wholesale price at whichMighty River Power sells the electricity it generates, or buys electricity tosell to customers, is subject to significant variability and may beunfavourable; • The volume and price at whichMighty River Power is able to sell electricity to customers may be adverselyaffected by competitor behaviour, economic conditions, changes in customerdemand or regulatory changes; • Investment in geothermaldevelopment activity requires significant early stage capital and may encounterunexpected delays, increased costs, a requirement to impair assets or not becommercially viable; • International geothermaldevelopment faces additional risks associated with operating in jurisdictionsoutside of New Zealand; • Changes in the regulatoryenvironment that adversely impact Mighty River Power; • A single (or multiple)catastrophic event generating losses not covered by insurance; • Insufficient access to futurecapital; • Treaty of Waitangi and otherMāori claims relating to ownership and governance of land, water and geothermalresources that directly or indirectly impose additional restrictions,conditions or additional costs。
You should read the Share Offer Document carefullybefore deciding whether to apply for Shares in the Share Offer.
Please contact us if you need any information or help with the offer and the application process.
We inform ! - You decide ! | 
发表于 2013-4-15 15:01:12
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