I spoke to Commsec and asked if they need approval from KM to effect a non-market transaction for ARI which is in suspension. They transferred me to Link Share Registry, who said to contact KM to get approval for the transfer, and the transaction can't go ahead without KM approval.
However, delisted does not seem to work that way (its whole operation model is premised on the assumption that you realise your capital loss by signing a transfer form), and as far as Commsec the broker is concerned, I'd disposed of my shares by entering into a legally binding agreement with the buyer of those shares, as evidenced by our countersigning the transfer form.
I think the way to think about it is by this analogy: I've sold my house to a buyer by signing a contract for sales, but the Certificate of Title is yet to be registered with the new owner's details, or for some reason settlement is delayed. But those events do not affect the legally binding and enforceable nature of the sales contract, and the date of sale being that of the date of the contract.
$54 broker fee is cheaper than delisted $150. I will give this a try.
ARI Price at posting:
2.2¢ Sentiment: None Disclosure: Held
