1PG 0.00% 16.5¢ 1-page limited

Just a casual passer-by, but on the issue of the foreign...

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    Just a casual passer-by, but on the issue of the foreign listing, the accessibility to trade such stock will be dictated by how the shares are registered to foreign (Aus) holders.

    If the stock is issued/registered electronically with the registrar, then the process to transfer the stock to a local broker through its nominee account is somewhat reasonable. Most brokers with international equity functionality will be able to help out with this. Still a bit more difficult/expensive/longer than normal, however, not the worst outcome.

    On the other hand, if the stock is issued/registered as a certificated holding - a share certificate (yes, it still happens) - then it is an extremely cumbersome and frustrating process to transfer stock. The certificates would need to be converted electronically by a local broker who is happy to sponsor the conversion and transfer to its broker nominee account. Many brokers won't do the conversion and transfer of paper certificates at all, and those who do, will typically only do so if the stock value is worth a certain amount or above. Even then, the process takes anywhere up to 4-8 weeks and if you lose the certificate, you're looking at a hefty bill to replace it.

    I say the above as someone who is currently dealing with the nightmare of trying to dispose international, certificated shares.
 
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Currently unlisted public company.

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