- Release Date: 21/12/12 17:24
- Summary: S/HOLDER: BLT: BLIS Technologies Limited - Minimum Shareholding Level
- Price Sensitive: No
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BLT 21/12/2012 15:24 S/HOLDER REL: 1524 HRS BLIS Technologies Limited S/HOLDER: BLT: BLIS Technologies Limited - Minimum Shareholding Level BLIS appreciates the support and enthusiasm of all of its shareholders and wishes to maintain a diverse shareholding base but is cognisant of the costs associated with maintaining its share registry. In its examination of all avenues available to reduce administration expenses BLIS has established that the cost of servicing small shareholdings is disproportionate to the underlying value of the share parcels. In particular, 63% of the total shareholders of the company hold less than 25,000 shares, representing 1.73% of the total shares on issue in BLIS. Accordingly, BLIS sought a determination from the NZX for a minimum shareholding of 25,000 shares. This request was granted on 19 December 2012. BLIS determined on 21 December 2012 to implement a Small Shareholding Plan to give effect to the minimum shareholding. Hence, in accordance with Clause 4 of the BLIS Constitution the Board of Directors hereby gives notice to shareholders that at the expiration of 3 months after this notice being 21 March 2013 the Board will exercise the power of sale of individual shareholdings of less than the minimum shareholding (25,000 shares). For the avoidance of doubt this will only apply to shareholdings of less than 25,000 shares on 21 March 2013. If you currently hold 25,000 shares or more and intend to maintain this level on 21 March 2013 the notice given in this letter does not apply to you. On 21 March 2013 BLIS will arrange for the purchase of all shares from shareholders that hold parcels of less than 25,000 shares on that date. Under the Small Shareholding Plan you have three options available to you if you currently hold less than 25,000 shares: Option 1 - purchase additional shares such that on 21 March 2013 your shareholding exceeds 25,000 shares thereby remaining a shareholder of BLIS; Option 2 - donate your entire share holding to Cure Kids (www.curekids.org.nz) by completing the attached share transfer form and sending it to Link Market Services Limited, 138 Tancred Street, Ashburton; or Option 3 - do nothing and post 21 March 2013 receive the net proceeds from the sale of your entire shareholding of less than 25,000 shares. If you hold less than 25,000 shares on 21 March 2013 a broker instructed by BLIS will sell your shares through the NZX (or in some other manner approved by the NZX) and BLIS will send you the proceeds after deduction of reasonable sale expenses. If you have any questions relating to this matter please contact Mukesh Kumar, BLIS Chief Financial Officer, +64 (3) 4798954 or [email protected] Yours faithfully Peter Fennessy Chairman End CA:00231578 For:BLT Type:S/HOLDER Time:2012-12-21 15:24:49
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