Important Changes to Future Cash Payments to Shareholders – Mandatory Direct Credit Payment
G8 Education is committed to implementing sustainable and efficient business practices and has recently reviewed its processes for payment of dividends to shareholders. Following this review, G8 Education’s Board of Directors has determined that all future cash dividends for shareholders with a registered address in Australia or New Zealand will be made exclusively by direct credit payment.
Accordingly, effective from the next applicable record date for the payment of dividends, any cash payment to G8 Education shareholders with a registered address in Australia or New Zealand will be made by direct credit only, into a shareholder’s nominated bank or financial institution account (other than credit card accounts). No cheque payments will be made to shareholders with a registered address in Australia or New Zealand.
The implementation of mandatory direct credit payment for dividends is consistent with market practice in Australia across many ASX-listed companies.
The benefits that mandatory direct credit payment, rather than payment by cheque, is intended to bring to shareholders include:
- the ability for shareholders to access cleared funds more efficiently and securely reducing the risk of cheques being lost or stolen;
- the elimination of potential cheque fraud; and
- the reduction in administration costs associated with cancelling/reissuing and dispatching
You will continue to receive a dividend statement for your tax records, either by post or by email, depending on your selected communication preference. G8 Education encourages all shareholders to receive dividend statements and other shareholder related communications electronically and requests that you register your email address with our registry (Link Market Services) at www.linkmarketservices.com.au for this purpose.
If you are already receiving your dividend payments directly to your bank account, no action is required.
If you currently receive your dividend payments by cheque, you will need to provide Link Market Services with your bank account details at www.linkmarketservices.com.au or download a paper version of a direct credit instruction form for completion and forwarding to Link Market Services. If you require further information please contact Link Market Services by calling 1300 554 474 (within Australia) or +61 1300 554 474 (outside Australia).
If you do not provide your bank account details by the next applicable record date for dividends, your dividend will be held in a non-interest bearing deposit account until your nominated account details are received by Link Market Services (after which time your payment will be made on the next scheduled periodic payment date).