yes your correct, register cost's can be based in part on the number of shareholders, also its good managment to prune the register to make it tighter , its also slack not to manage it
a good example was VPE had a slack register and another company against vpe's wishes did a market buy back of the small shareholding, a good move by the company to do this and pick up a nice shareholding. ( but the company in question that did it did not now how to realise the value from its holding afterwords its interesting reading , and worth a read by all reading this thread)
and shareholder can elect to keep there small parcels the dont have to accept but they have to reply,
the same issue arises with share consolidations too.
can you imagine the ammmount of shareholders in lakes oil for example?
