Etherstack Plc (ESK or the Company) is pleased to announce that it intends to undertake a minimum holding buy-back for holders of less than a marketable parcel of CHESS Depository Interests (CDIs) in the Company (Buy-Back). Under the ASX Listing Rules, a marketable parcel of CDIs is a parcel of not less than $500, based on the closing price of CDIs on ASX.
The Buy-Back will allow CDI holders who hold less than a marketable parcel (Minimum Holding) of CDIs in the Company (Eligible Holders) to sell their CDIs back to the Company in accordance with the Company’s articles of association, at the Buy-Back price of $0.226 per CDI (Buy-Back Price), being the simple average of the last sale prices of the Company’s CDIs as quoted on the ASX for each of the 5 trading days before the Record Date. These CDIs will be cancelled once transferred to the Company in accordance with the Corporations Act 2001 (Cth) (Corporations Act).
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