Auswide Bank Ltd (ASX:ABA) (“Auswide Bank”) has today received relief from the Australian Securities & Investments Commission (“ASIC”) in relation to the share sale facility under which Queensland Professional Credit Union Ltd (trading as Your Credit Union (“YCU”)) members elected or were deemed (“Share Sale Facility Participants”) to have their new Auswide Bank shares that they were entitled to receive under the merger (“Sale Shares”) sold by the broker (“Broker”), in accordance with the terms and conditions of the share sale facility (as set out in attachment VII of the scheme booklet).
The effect of the relief is that the Broker is now permitted to sell the Sale Shares in the ordinary course of trading on a licensed market or through a bookbuild.
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