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- Release Date: 21/12/12 17:24
- Summary: S/HOLDER: BLT: BLIS Technologies Limited - Minimum Shareholding Level
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BLT
21/12/2012 15:24
S/HOLDER
REL: 1524 HRS BLIS Technologies Limited
S/HOLDER: BLT: BLIS Technologies Limited - Minimum Shareholding Level
BLIS appreciates the support and enthusiasm of all of its shareholders and
wishes to maintain a diverse shareholding base but is cognisant of the costs
associated with maintaining its share registry.
In its examination of all avenues available to reduce administration expenses
BLIS has established that the cost of servicing small shareholdings is
disproportionate to the underlying value of the share parcels. In
particular, 63% of the total shareholders of the company hold less than
25,000 shares, representing 1.73% of the total shares on issue in BLIS.
Accordingly, BLIS sought a determination from the NZX for a minimum
shareholding of 25,000 shares. This request was granted on 19 December 2012.
BLIS determined on 21 December 2012 to implement a Small Shareholding Plan
to give effect to the minimum shareholding.
Hence, in accordance with Clause 4 of the BLIS Constitution the Board of
Directors hereby gives notice to shareholders that at the expiration of 3
months after this notice being 21 March 2013 the Board will exercise the
power of sale of individual shareholdings of less than the minimum
shareholding (25,000 shares). For the avoidance of doubt this will only
apply to shareholdings of less than 25,000 shares on 21 March 2013.
If you currently hold 25,000 shares or more and intend to maintain this level
on 21 March 2013 the notice given in this letter does not apply to you.
On 21 March 2013 BLIS will arrange for the purchase of all shares from
shareholders that hold parcels of less than 25,000 shares on that date.
Under the Small Shareholding Plan you have three options available to you if
you currently hold less than 25,000 shares:
Option 1 - purchase additional shares such that on 21 March 2013 your
shareholding exceeds 25,000 shares thereby remaining a shareholder of BLIS;
Option 2 - donate your entire share holding to Cure Kids
(www.curekids.org.nz) by completing the attached share transfer form and
sending it to Link Market Services Limited, 138 Tancred Street, Ashburton; or
Option 3 - do nothing and post 21 March 2013 receive the net proceeds from
the sale of your entire shareholding of less than 25,000 shares.
If you hold less than 25,000 shares on 21 March 2013 a broker instructed by
BLIS will sell your shares through the NZX (or in some other manner approved
by the NZX) and BLIS will send you the proceeds after deduction of reasonable
sale expenses.
If you have any questions relating to this matter please contact Mukesh
Kumar, BLIS Chief Financial Officer, +64 (3) 4798954 or
[email protected]
Yours faithfully
Peter Fennessy
Chairman
End CA:00231578 For:BLT Type:S/HOLDER Time:2012-12-21 15:24:49
