Funds manager and insurer AMP Ltd
(ASX:AMP) has today announced a share sale facility, offering shareholders with small parcels of shares the opportunity to sell their shares without brokerage or transaction costs.
The facility will be made available to eligible shareholders with registered addresses in Australia, New Zealand and the United Kingdom for a period of five weeks from October 19 until November 20.
The company says it decided to offer the share sale facility in response to enquiries from retail shareholders about how they can sell small parcels of shares without incurring a brokerage fee.
AMP says from time to time it has offered a brokerage-free share sale facility for small shareholders and this is the latest such share sale offer.
AMP has around 420,000 shareholders with parcels of 500 or less shares.
AMP’s 2008 net profit was $580 million down from a high of $985 million in 2007.
