Environmental Clean Technologies Limited (ASX:ESI) Small Shareholding Sale Facility.
ECT welcomes the support of all its shareholders, however, it incurs administrative costs in producing and distributing shareholding statements, annual reports, notices of meeting and other communications, irrespective of the size of any shareholder. The cost of maintaining shareholder accounts can be disproportionately high when compared with the dollar value of relatively small shareholdings. Hence, ECT has initiated the Small Shareholdings Sale Facility as a convenient and cost effective way for shareholders to sell their Small Shareholding of shares, free of brokerage.
The Company will be writing to all shareholders who hold less than A$500 worth of ECT shares, that the Company is implementing a small shareholding share sale facility (the Small Shareholdings Facility) under clause 3 of the ECT Constitution. The letter will include a Share Retention form that will need to be completed if the shareholder does not wish to participate in the Small Shareholding Facility.
In the letter to shareholders with a Small Shareholding they will be advised that unless they complete and return the "Share Retention" form to the Company's share registry by 25th April 2011, then after a second notice the Small Shareholding will be sold pursuant to the Small Shareholding Facility. The shares will be sold on-market and ECT will bear all brokerage and handling fees related to sales under this facility.
If the market value of Small Shareholding increases during the notice period, due to an increase in the ECT share price, so that a Small Shareholding that was previously identified becomes a 'marketable parcel' (i.e. their value becomes equal to or greater than A$500) the Company will not sell the relevant shareholders' Small Shareholding.
Questions regarding the Small Shareholdings Facility should be directed to the Company's registry, Security Transfer Registrars Limited on +61-8-9315-2333 or the Company on +61-3-9684-0888.
About Environmental Clean Technologies Limited:
Environmental Clean Technologies Limited (ASX:ESI) is principally engaged in the research and development of Coldry, the process of dewatering brown coal to produce a black coal substitute. Coldry process produces pellets that can be stored, transported and is of equal energy value than black coal.
Copyright 2011 ABN Newswire
Provided by Syndigate.info an Albawaba.com company
|Printer friendly Cite/link Email Feedback|
|Date:||Mar 4, 2011|
|Previous Article:||South American Silver Corp. (TSE:SAC) To Present at PDAC International Convention, Toronto, Canada.|
|Next Article:||Rum Jungle Resources Limited (ASX:RUM) Exploration Update At Barrow Creek 1 Phosphate Discovery.|