Ann: Retention Notice - Sale of Unmarketable Parcels, page-15

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ClockworkSmurf

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21/09/20

15:26

Post #: 47507838
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Originally posted by ClockworkSmurf: ↑

Never mentioned offence so cheers for the assumption.
Basically the same thoughts get called both tinfoil hat conspiracy and business rationale? Cool.

I didn’t mention inactive holders but not signalling anything to a certain type of holder? That’s confusing as the third last paragraph in particular is a clear signal to a certain type of holder.

For the time poor: ‘This notice is to inform you, and all other holders of unmarketable parcels of shares, that the Company intends to invoke the provisions of Rule 2.6 and Schedule 4 of the Company’s Constitution and sell your unmarketable parcel. If you do not wish for your shares to be sold you must complete and return the Notice of Retention on the reverse of this notice to our Share Registry by 30 October 2020’

End quote.

To inform can be translated as to signal one’s intent.

They have to treat all holdings the same? Perhaps try reading the first paragraph of the announcement again.

Here it is for the time poor: ASX Listing Rules and the Company’s Constitution empowers directors of Ardea Resources Limited (“Ardea” or “the Company”) to sell the security holdings of any member who holds less than a marketable parcel of securities (“Small Shareholder”).

End quote. ( there are conditions to that- one of them being that the company must signal their intent to do so ).

Empowers means allows to.

Long story short some of us are going to have to fill out a form or see our inconsequential shareholding sold. Perhaps a source of frustration which needs venting by some of those holding 1000 shares or less but great for the rest of us as it will reduce the number of shareholders by up to 1/3 which will save the company time and money.

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Correction* $500 worth of shares, not 1,000 shares.

Last edited by ClockworkSmurf: 21/09/20

ARL Price at posting: 47.5¢ Sentiment: Buy Disclosure: Held
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