KEY POINTS:
Pulse Utilities NZ, a smart metering technology and electricity retailer, plans to list on the NZAX alternative market next Monday.
It said yesterday that it would then conduct a $5000 rights issue to shareholders at $2 a share for up to 2500 new shares.
Pulse currently has 510,357 convertible notes on issue with a face value of $1 each.
After the prospectus is registered, the notes will convert into 46,903 shares at a price of $1.50 each.
Pulse said that in the short-term it had a policy of reinvesting profits but once capital assets were deployed and critical mass was reached, it expected "significant and ongoing revenue streams" and long-term it wanted to be a dividend stock.
"The level of dividends payable will depend upon a number of factors, including future earnings, capital requirements and the overall financial condition of Pulse."
The closing date for accepting entitlements is December 28.
- NZPA
