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Can we buy shares in ASIC?

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BarrelSitter

6,614 Posts.

2189

20/07/21

14:45

Post #: 54632723
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Originally posted by WheresTheMonkey: ↑

The nominee, rather than the beneficiary, is a member of the company in which the shares are held, and only it's name is entered in the register of
members.

So Schwab and Fidelity are recorded as 2 shareholders. They are known as the nominal holders of the shares and are answerable to the beneficial owners.

In Australia only companies with 20 or less shareholders must record who the beneficial owner is. Listed companies are not required to do this.

However iIf the governing authority ASIC has suspicions about a Listed company's ownership (for instance a non declared beneficial ownership of 5% or more) it can issue to the company in this case TLG what is known as a "trace notice" that is then passed onto the nominal holder which must answer within 2 business days. ASIC regards such conduct as creating "an uninformed market"

If they refuse or are late to disclose the beneficial owner ASIC can force the sale on the ASX of all those shares held nominally or alternatively the ownership of the shares will be transferred to ASIC.

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Can we buy shares in ASIC?

TLG Price at posting: $1.30 Sentiment: Buy Disclosure: Held
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Last 46.0¢		Change 0.000(0.00%)		Mkt cap ! $197.2M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
2	2784	48.5¢

Sellers (Offers)

Price($)	Vol.	No.
43.5¢	6140	2

View Market Depth

No.	Vol.	Price($)
2	2784	0.485
2	25400	0.460
2	10469	0.455
3	43303	0.450
2	11020	0.445

Price($)	Vol.	No.
0.435	945	1
0.450	880	1
0.460	4700	1
0.465	55617	2
0.470	26779	2

Last trade - 09.39am 13/09/2024 (20 minute delay)

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