Origin Energy has announced the the sale of the company’s 53.09 per cent shareholding in Contact Energy Limited.

Under the terms of the Preference Shares, Origin Energy Contact Finance is required to give all holders of the Preference Shares 20 business days’ notice prior to the redemption of the Preference Shares.

Accordingly, subject to completion of the sale of the Contact Energy shares, it is expected that the notice of redemption will be sent to holders on or about 10 August 2015, and that payment of the redemption amount and the final dividend will be made on or about 7 September 2015.

A trading halt has been sought in respect of the Preference Shares while the bookbuild for Contact Energy shares is conducted. If a trading halt is granted, the Preference Shares will continue in trading halt until the results of that bookbuild are announced.

Michelle is a freelance journalist and editor who, as well as covering all the latest and breaking industry news, is a gun proofreader and editor who never misses a trick.

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