This is an article from the webpage of Lawyer.com.au about...

This is an article from the webpage of Lawyer.com.au about unmarketable parcels.

Note the comment on the sale date

Listing Rules

The relevant ASX Listing Rule is L/R15.13 (Small Holdings) which allows& a company to sell the shares of holders of unmarketable parcels, no more than once in any 12 month period, provided its Constitution makes provision for such and the following terms are followed:

1. Shareholders must be notified in writing of the intended sale

1. Shareholders must be given at least 6 weeks’ notice before the small holdings sale takes place

1. Shareholders must be given the ability to ‘opt out’ of the sale – ie, to advise that they wish to remain as shareholders

1. The company (or the purchaser/s) must pay the costs of sale
2. The holding must still be an unmarketable parcel at the date of sale
3. Proceeds must be sent promptly to [former] holders after the sale.

In addition, the company must be careful not to imply [in the notice/letter] that because a holding is classified as being less than a ‘marketable parcel’ for the purposes of the Listing Rules, the parcel is not capable of being sold on market.