What is an unmarketable parcel of shares?
An Unmarketable Parcel is a holding of fully paid ordinary shares in MMA Offshore Limited (Shares), (Company) that is valued at less than $500. Based on the closing price of Shares on Friday, 21 May 2021 (Record Date) of A$0.325, this is equivalent to a holding of less than 1,539 Shares.
What is unmarketable parcel sale facility?
An ‘unmarketable parcel’ is a shareholding worth less than $500 which, for a holder, may be difficult and/or expensive to sell. As an ancillary matter, it may also be expensive for the company to maintain these small holdings (ie, with minimum share registry fees and other administrative costs).
What is marketable parcel?
Marketable Parcel means the number of Shares which in aggregate constitutes a marketable parcel of Shares in the Company within the meaning of the Listing Rules. Sample 1. Sample 2. Marketable Parcel means a parcel of securities not less than $500 in value based on the price paid on issue if the shares are unquoted.
What is less than marketable parcel sale?
As at 5:00pm (AWST) on 18 May 2021 (Record Date), a Less than Marketable Parcel of shares is any shareholding of shares less than $500.00, based on the Company’s closing share price of $0.064 on the Record Date. If Minority Members wish to sell their shares through this facility, they do not have to take any action.
What is a marketable parcel ASX?
Under ASX Listing Rule 15.13 and clause 3 of the Company’s constitution, the Company has the right to sell Unmarketable Parcels, unless shareholders give notice to the Company before the Closing Date that they wish to retain their shares or acquire additional shares such that their holding at the Closing Date comprises …
What is a marketable parcel?
More Definitions of Marketable Parcel Marketable Parcel means the number of Shares which in aggregate constitutes a marketable parcel of Shares in the Company within the meaning of the Listing Rules.
Are the ASX listing rules legally binding?
The Listing Rules are enforceable against listed entities and their associates under the Corporations Act (see sections 793C and 1101B). If an entity does not comply with the Listing Rules, its +securities may be suspended from +quotation or it may be removed from the +official list.
Are the ASX Listing Rules legally binding?
What is Appendix 4E?
give ASX the information set out in Appendix 4E. A responsible entity must give ASX the information with any necessary adaptation. ASX will accept, for example, the use of International Financial Reporting Standards. Cross reference: Listing rules 5.6 and 19.11A, Guidance Note 4 Foreign Entities Listing on ASX.
