Media Release

Medibank Private Share Offer closes Friday

MC 115/14

Senator the Hon. Mathias Cormann
Minister for Finance

9 November 2014

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Australians who would like to apply for shares in Medibank Private are reminded that their application and payment for Medibank Private shares must be received by 11.59pm AEDT this Friday, 14 November 2014.

Investors should follow the application instructions in the prospectus to ensure that their application and payment are submitted in an eligible format and are received before the Retail Offer closes on Friday 14 November 2014.

Investors submitting paper application forms with cheque or money order payment via the post should be mindful of mailing times to ensure their application is received by the close of the Retail Offer.

Investors applying online should be aware that both your online application and payment must be received prior to the close of the Retail Offer. Please be aware that your financial institution may implement earlier cut-off times with regard to electronic payments than the time at which the Retail Offer closes. This should be taken into consideration when making payment.

Retail Offer applications can be made in three ways:

  1. Apply and pay online at medibankprivateshareoffer.com.au
  2. Apply by post using the paper application form and reply paid envelope in your prospectus with a cheque or money order payment, which must be received prior to the close of the Retail Offer or
  3. Apply through your broker.

Investors who would like to receive a prospectus and apply by post during the final week of the Retail Offer should call the Medibank Private Share Offer Information Centre on 1800 998 778 to discuss mailing time constraints.

Retail investors should carefully consider the prospectus before deciding whether or not to apply for shares.

The Commonwealth will make a determination and announcement on the final share price and final allocation of shares between the Retail Offer (including the Broker Firm Offer, the Policyholder Offer, the General Public Offer and the Employee Offer) and Institutional Offer prior to Medibank Private listing on the ASX on Tuesday, 25 November 2014.

The Government has long been committed to the sale of Medibank Private.

Medibank Private is a commercial business operating in a well-functioning and competitive private health insurance market with 34 competing funds.

As such there is no compelling policy reason for the Government to continue to own Medibank Private.

The sale of Medibank Private will provide the company with full commercial independence and access to capital markets.

The sale will also remove the current conflict where the Government is both the regulator of the private health insurance market and owner of the largest market participant.

Proceeds from the sale of Medibank Private will be re-invested into productivity enhancing infrastructure through the Government's Asset Recycling Initiative.

[ENDS]

Media Contact(s): 

Karen Wu – 0428 350 139

Legal Notices

The Offer by the Commonwealth of Australia is only made through the prospectus which you should consider in deciding whether to apply for shares. To apply, you need to complete the application form in or with the prospectus. The prospectus may be obtained by visiting medibankprivateshareoffer.com.au or calling 1800 998 778. This document does not constitute an offer to sell, or a solicitation of an offer to buy securities in the United States or any other jurisdiction. The shares referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933 (the "U.S. Securities Act") or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States absent registration under the U.S. Securities Act or an exemption from registration requirements. Unless the context requires otherwise, terms adopt the meaning given in the prospectus.