MyState Limited - Share Sale Facility Book build achieves strong investor support

22 September 2009

MyState Limited (ASX: MYS) has confirmed that last week Bell Potter Securities Ltd successfully completed the sale of MYS shares which were offered for sale through the Share Sale Facility provided for MyState Financial members, as part of the proposal to merge with Tasmanian Perpetual Trustees Limited (ASX: TPX) to create MyState Limited. MyState Financial members were able to sell their shares through this facility without incurring any brokerage fees.

Approximately 37,000 members took advantage of the Share Sale Facility, which resulted in the sale of 14,409,588 MYS shares. The shares were sold at a price of $2.50 each, which was determined through an independent institutional book build process conducted by Bell Potter Securities Ltd.

MyState Limited Chairman, Dr. Michael Vertigan AC said "We have been very pleased, particularly in the current economic climate, with the strong support shown for our stock. By comparison to recent corporate capital raisings in the marketplace and taking account of the large number of shares on offer, the bids received from investors were only marginally discounted from previous TPX trading levels. This is a good outcome for those members who chose to sell their shares through this facility, as well as the Tasmanian economy which will benefit from the $36 million cash injection in the next couple of weeks."

Members who used the facility to sell their MyState Limited parcel of 387 MYS shares will receive their proceeds by October 15, amounting to $967.50 per share parcel.

Key Dates

Below is an indicative timetable for implementation of the merger (see footnote*):

Effective Date	9 September 2009*
Court orders are lodged with ASIC
MSF Scheme and TPX Scheme takes effect
Deferred settlement trading of New MYS Shares commences on ASX	10 September 2009*
Record Date	3 September 2009
TPX Shareholders - date for determination of their entitlements to New MYS Shares on a 1 for 1 basis for existing TPX Shares	16 September 2009*, 7.00pm Sydney time
MSF Members - date for determination of their entitlements to New MYS Shares (each eligible member will receive 387 MYS Shares)	13 August 2009, 5.00pm
Implementation Date	24 September 2009*
Allotment of New MYS Shares	24 September 2009*
Despatch of MYS Transaction Confirmation Statements	24 September 2009*
Normal trading of New MYS Shares commences on ASX	24 September 2009*
(T+3 first settlement will be on 29 September 2009)

* Important note – this timetable is indicative only and subject to confirmation with ASX.

For further information, please contact:

Paul Viney
Company Secretary
MyState Limited
Ph 03 63481175

Merger Questions & Answers

» View all Questions & Answers

Media Releases

September 22nd 2009:

• MyState Limited announces final dividend for year ended 30 June 2009 (56KB)

September 22nd 2009:

• MyState Limited - Share Sale Facility Book build achieves strong investor support (56KB)

September 7th 2009:

• Court Approves Tasmanian Perpetual Trustees Limited (ASX Code: TPX) Merger with MyState Financial Credit Union of Tasmania Limited (MSF) (88KB)

September 1st 2009:

• Supreme Court grants an adjournment of the final merger approval hearing (60KB)

August 25th 2009:

• Final Supreme Court merger approval process begins for MSF & TPTL (76KB)

August 20th 2009:

• Tasmanian Perpetual Trustees shareholders approve merger with MyState Financial (84KB)

August 19th 2009:

• MyState Financial members vote in favour of proposal to merge with Tasmanian Perpetual Trustees Limited (TPX) (120KB)

» View Merger Information Archive