AVZ 0.00% 78.0¢ avz minerals limited

Letter from Automic, page-30

  1. 3,645 Posts.
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    The short and practical answer for most people is you can't !

    If however you really need to do it then you will have to go it alone and seek out somebody willing to buy them from you since the company has decided to not allow its shareholders the usual option of buying or selling via a recognized stock exchange. If you find somebody then you will need to negotiate the price between you as in the absence of a market there is no obvious way to determine a market value. You will also have to manually do the the administrative paperwork to transfer the shares from you to the buyer. Finally it would also be your problem to figure out a mechanism to settle the transaction in a way in which both parties are safe, ie how do you make sure you get the money if you send in the transfer form to the registry, and conversely how does the buyer know if you will transfer the shares if they pay you first.

    All of these problems are usually a pretty seamless part of the CHESS settlement system here in Aus however as the company is no longer a listed entity on the exchange its shares cannot be settled through the settlement system. As you can see the lack of a trading engine to match you with a buyer is only part of the problem.

    Good luck whatever you do.
 
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Currently unlisted public company.

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