Mr Duck - with a Small Parcel Sale, what happens is LWP would send out a notice to s/h, advising them that they hold a unmarketable parcel, and that LWP will engage a broker to sell their shares on ASX. Any proceeds of sale will be returned to said s/h.
If LWP s/h who receive this letter wish to retain their shares and not sell, then that s/h must formally advise LWP on the form provided. So a s/h with an Unmarketable Parcel, can still hold that small parcel, IF and only IF, they respond in writing to LWP. SO thats the Opt-Out provision. I think it stinks - but thats the way it is.
So LWP does not need to fund the payment of sale of the Unmarketable shares - those funds come from the sale of said shares on market.
Thats my understanding.
cheers
LWP Price at posting:
0.1¢ Sentiment: None Disclosure: Held
