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Share Buyback

Following the first Share Buyback around February 2024, the intent is to make further Share Buyback offers to Shareholders every three years.  The Board consider that this potentially provides liquidity windows for Shareholders who have different investment horizons. 

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If the Board determines, in its discretion, that an event has occurred or circumstances have arisen which requires the Share Buyback to be delayed until a future date or cancelled or revoked, then it will advise the Shareholders in writing accordingly. All Share Buybacks will be in accordance with the requirements of the Companies Act and other relevant regulations.   

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Crossgate Capital intends to make an offer, every three years, to all Shareholders to buy-back their Class A Shares.

 

The first offer is intended to be made on or around February 2024. Shareholders will be able to accept any offer in whole or in part, subject to certain restrictions.  Please refer to the PDS for further information. 

When you are ready to sell your shares

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Crossgate Capital provides investors an easy on-ramp to a modern product whilst providing all the benefits that are associated with a traditional Share offer, such as being able to list the Shares on the Unlisted Securities Exchange (USX),which is located in New Zealand.  Crossgate Capital's ticker code is CCL.

This aligns with our objective to deliver a strong return with the potential flexibility provided by listing on the USX Main Board. 

The USX is a cost-efficient and simple share trading platform for Crossgate Capital to provide liquidity to Shareholders. It provides a mechanism for Crossgate Capital Shareholders to sell their Shares, if there are interested buyers.

All trading is conducted by seven USX registered brokers:
Craigs Investment Partners, Jarden NZ, Forsyth Barr, Hamilton Hindin Greene, JB Were, Hobson Wealth and Tribe Financial.

Crossgate Capital

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Crossgate Capital can also facilitate the sale of your Shares by matching the buyers and sellers of Shares, if there are interested buyers.

We have facilitated multiple trades between Shareholders with the matching process being undertaken during our weekly allotment process.

Should you wish to sell your Shares, for any reason, please contact us to discuss the various options available to you.

 

About USX

The USX a New Zealand based prescribed exempt financial product market was launched in December 2003 originally trading as the Unlisted Securities trading facility.
 

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You may be able to sell your Shares on the USX if there are interested buyers. The USX is not a licensed financial product market or regulated under New Zealand financial markets laws. Investors trading in securities quoted on the USX trade at their own risk and do not have the protections provided by Part 5 of the Financial Markets Conduct Act 2013 and the monitoring of market obligations by the Financial Markets Authority (FMA). 

Efficient Market Services Limited, which operates the USX accepts no responsibility for any statement on this website.
 

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