NEWS RELEASE 16 May 2013 NZX: MRP
ASX: MYT
Successful completion of IPO signals next phase in evolution of Mighty River Power "We are delighted to see the breadth and depth of our investor base, particularly first-time investors and we are heartened by the confidence those investors have placed in the Company's future," said Chair Joan Withers. “Through this Offer we‟ve seen a new level of interest and understanding of Mighty River Power‟s business – and we know there will be substantial interest in our performance and strategy from our new shareholders and potential investors as we go forward into this next stage of the Company's evolution. Mighty River Power Limited (NZX: MRP / ASX: MYT) is now trading on a normal basis following the allocation and transfer of 675,031,404 Ordinary Shares from the Crown to more than 113,000 shareholders, who purchased a direct stake in the Company through the Initial Public Offering. The Crown has retained a 51.8% stake, inclusive of loyalty shares. “This week we‟ve written to our shareholders for the first time enclosing their holding statements – and acknowledging their support through the IPO and helping further connect them with Mighty River Power.” Mrs Withers said the „welcome‟ letter to all shareholders was designed to reach out to investors and convey our commitment to ongoing communication and transparency. “The new depth and diversity in Mighty River Power‟s share register, with a substantial and widespread local retail shareholding, strong support from New Zealand and offshore institutional investors, together with the Crown as a cornerstone shareholder will require us to keep investors appropriately informed and engaged. One important component of our communication approach is the Company's website and a new „Investor Centre‟ which will be an up-to-date resource for our shareholders, investors and the public to access. “We‟re looking forward to the next steps of engaging with our shareholders, updating them on key milestones for our business, and sharing our business results for the 2013 Financial Year in August this year. “This has been an exciting time for Mighty River Power, and I‟m personally passionate about ensuring that we are responsive to investors and providing appropriate transparency so that they can make informed assessments about the Company‟s value and prospects,” she said. ENDS
For further information: Katherine Litten Media Relations Manager T 0272 105 337
Anna Hirst Head of Investor Relations T 0275 173 470
Mighty River Power is one of New Zealand‟s largest electricity companies – with its core business based on reliable, low fuel-cost electricity generation complemented by sales to homes and businesses. The Company generates about 17% of New Zealand‟s electricity from the nine hydro stations on the Waikato River, five geothermal power stations in the Central North Island and a multi-unit gas-fired station in Auckland. More than 90% of its electricity production is from renewable sources. Mighty River Power sells electricity through multiple channels and retail brands, including Mercury Energy, GLO-BUG, Bosco Connect and Tiny Mighty Power. Mighty River Power‟s metering business, Metrix, provides electricity retailers with advanced metering infrastructure (AMI) solutions for their residential and commercial customers. Mighty River Power is one of the world‟s largest geothermal power station owners, and has a successful track record, investing more than $1.4 billion in geothermal development since FY2006. The Company is applying this capability and experience – gained through domestic geothermal exploration, development, construction and operations – to invest in international growth opportunities.
NEWS RELEASE 16 May 2013 NZX: MRP
ASX: MYT
The shares in Mighty River Power Limited have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The shares may not be offered or sold in the United States or to, or for the account or benefit of, any person in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act and may not be offered or sold in any jurisdiction where it is unlawful to do so.
For further information: Katherine Litten Media Relations Manager T 0272 105 337
Anna Hirst Head of Investor Relations T 0275 173 470
Mighty River Power is one of New Zealand‟s largest electricity companies – with its core business based on reliable, low fuel-cost electricity generation complemented by sales to homes and businesses. The Company generates about 17% of New Zealand‟s electricity from the nine hydro stations on the Waikato River, five geothermal power stations in the Central North Island and a multi-unit gas-fired station in Auckland. More than 90% of its electricity production is from renewable sources. Mighty River Power sells electricity through multiple channels and retail brands, including Mercury Energy, GLO-BUG, Bosco Connect and Tiny Mighty Power. Mighty River Power‟s metering business, Metrix, provides electricity retailers with advanced metering infrastructure (AMI) solutions for their residential and commercial customers. Mighty River Power is one of the world‟s largest geothermal power station owners, and has a successful track record, investing more than $1.4 billion in geothermal development since FY2006. The Company is applying this capability and experience – gained through domestic geothermal exploration, development, construction and operations – to invest in international growth opportunities.