Participant Circular QBE INSURANCE GROUP LIMITED – PRIORITY
Date: 18 October, 2001
Participating Organisations are advised that QBE Insurance Group Limited (“QBE”) has
Key topics announced the completion of the institutional component associated with the proposed capital
1. QBE Insurance Group Limited - raising announced on 16 October 2001.
2. ASX Code: QBE The institutional component (entitlement and placement), which closed last night, raised
approximately $542 million. The priority entitlement ratio is 1 new share for every 5 shares
held at the record date at an issue price of $5.50 per share. The institutional placement price
was also $5.50 per share. The balance of the offer will comprise a retail entitlement component
expected to raise up to $121 million on the same 1:5 basis and the same price. The prospectus
for the retail entitlement component is expected to be lodged with the Australian Securities and
Investments Commission for registration on Friday, 19 October 2001. The retail component is
Reading List expected to close on 20 November 2001.
The retail priority entitlement component will be made at the same price ($5.50) and same pro-
Client Advisers (Brokers)
rata ratio (1:5) as the institutional priority entitlement component.
The anticipated timetable in relation to the priority entitlement offer is as follows.
Non Broker Participants
Announcement of proposed capital raising from existing
Operations Managers (back
qualifying shareholders (indicative price announced) Tuesday, 16 October 2001
office) Trading Halt Wednesday, 17 October
Research Analysts 2001
Share Registries Announcement of result of Institutional component and final
capital raising structure (final price and ratio).
ASX contact Trading halt lifted prior to commencement of trade – securities
commence trading on an ex-entitlement basis (XE) on
David Barnett SEATS.
Record date to determine qualifying shareholders participation
Telephone in the ‘pro-rata’ non renounceable priority entitlement (5.00pm
Sydney time). Thursday, 18 October 2001
(02) 9227 0520
Lodge prospectus at ASIC and copy to ASX Friday, 19 October 2001
ASX Limited Expected dispatch of prospectus to qualifying shareholders Wednesday, 24 October
ABN 98 008 624 691 2001
Retail component closes Tuesday, 20 November 2001
20 Bridge Street
Sydney NSW 2000
PO Box H224
Australia Square NSW 2000 Settlement issues
Telephone 61 3 9617 7834
Facsimile 61 3 9614 7124 Despite the fact that the shares are trading “ex entitlement” on SEATS, CHESS will not
Internet: http://www.asx.com.au recognise for settlement purposes the “ex entitlement” or the “cum entitlement” tag on CHESS
DX 10427 Stock Exchange Sydney messages. As a result, CHESS will not maintain cum balances in these shares within the
No responsibility is accepted for any In addition, CHESS will not perform any automatic diary adjustments to “cum entitlement”
inaccuracies contained in the matter settlement obligations outstanding as at the record date.
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To assist brokers, system novation to TNSC will be removed from the ex date until 5 business
days after record date inclusive.
ASX will not provide a "cum" market with respect to trading in QBE securities. Persons who trade QBE’s securities from Tuesday,
16 October 2001 will not be entitled to participate in the priority entitlement issue.
Evidence of entitlements
Persons who have traded QBE’s securities prior to the record date (18 October 2001) but are not registered holders on the record date
should contact QBE's registry, ASX Perpetual Registrars Limited on 02 – 8280 7111 or QBE to establish if there is any entitlement.
For further details please refer to QBE's announcements dated 16 and 18 October 2001 and QBE’s prospectus which is expected to be
lodged on 19 October 2001.
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