Name of entity Triangle Energy (Global) Limited ABN 52 110 411 428
(numbers are post consolidation).
Number +Class 8 Number and +class of all +securities quoted on ASX (including the +securities in section 2 if applicable) 146,823,915 Ordinary Shares Number +Class 9 Number and +class of all +securities not quoted on ASX (including the +securities in section 2 if applicable) 6,000,000 Unlisted Options exercisable at $0.0375 expiring on 30 June 2017
This is what the company DID say.
The Company currently has 1,049 shareholders of which approximately 609 hold a Less Than Marketable Parcel. Those holdings represent 58% of the Company’s total issued shares.
1,049 own 100% = 146,823,915.
609 own 58% = 85,157,870
440 own 42% = 61,666,945
But they went on to say this..Shareholders who own 13,158 shares or more will not be eligible to participate.
But, if you divide that 13,158 (assuming that the new buyers all take up a marketable parcel (just assuming now!!!) into the shares on offer i.e. 85,157,870, you would end up with 6,472 NEW shareholders.
Now just happens that 58% of 1,049 = 608.42. Hmmm.
They most certainly should have said quite unambiguously and not how wrongly they did say, that those 609 shareholders who do not hold a marketable parcel represent 58% of the shareholders NOT of the Company's issued capital. Very, very clumsy and clearly wrong and misleading. Like when you are in a hurry to do something!!!
"In addition, the Company expects to reduce the administrative costs associated with maintaining a large number of small shareholdings."
Still doesn't answer the obvious question. WHY???
How expensive is it to have a share register with a piddling 1.049 shareholders???
Do they really just want to just cut costs?? Some could very well be saying, oh yeah, pull the other one.
The answers my friend will start appearing from now until after 17 May!!!!
Oh yes Monark "it's wrong" as you so rightly said, but, you didn't say, or maybe didn't know, why. And you did forget that little thing called a consolidation.
Maybe should be a little more careful when you make statements such as "Not sure what everyone is on about but clearly many have little idea .
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