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Thanks for the explanation. I think everyone looks like having...

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DDuck

806 Posts.

42

11/05/18

15:02

Post #: 33040012
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Originally posted by jake0002 ↑

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

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Thanks for the explanation.
I think everyone looks like having an unmarketable at this stage unless the rabbit comes out of the hat.

LWP Price at posting: 0.1¢ Sentiment: None Disclosure: Not Held
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