Ann: Unmarketable Parcel Program , page-9

It is a sensible housekeeping procedure with no sinister intention.

From my understanding, Tabithaa is correct.

In the days before electronic trading, we had to purchase shares in marketable lots, which from memory were in multiples of 10, 100 or 1000 depending upon the share price. A minimum purchase, as Tabithaa pointed out, was $500. I imagine that it was time consuming for brokers to match trades of odd amounts. Consequently, the concept of the marketable lots.

When the minimum brokerage was, say $100, shareholders would hold on to an unmarketable lot whose value may have only amounted to $100, or even less. However as a shareholder you were still entitled to same administration as to the shareholder who held $100, 000.

The shareholder wanted out, the company wanted you out, so the unmarketable program was the solution.

The unmarketable parcel program encourages the very small shareholder to opt out, which saves administrative costs.

It’s good administration but, in my opinion, it will have virtual no impact on share price.

I suppose if something was foreseeable was ‘in the wings’, the company could be tidying up their registry to simplify matters. However I think this is unlikely.
Cheers