Australian energy company WHL Energy Limited
(ASX:WHN) (“WHL Energy” or “the Company”) is pleased to advise that the unmarketable parcel sale facility, announced on November 14, 2013, has been completed.
In total over 1,440 shareholders, holding an aggregate 28,879,733 shares, took part in the sale plan. By the closing date of 2 January 850 shareholders had elected to retain their holdings. The aggregated shareholdings were taken up by a single, long term investor, with proceeds from the sale of $202,158 to be distributed to relevant shareholders as soon as practicable in accordance with the Company’s Constitution.
The Company offered the facility to assist shareholders of unmarketable to sell their WHL Energy shares without having to use a broker or pay a brokerage. At 6 November 2013, 43% of the Company’s shareholders held unmarketable parcels which accounted for approximately 3.5% of the fully paid shares on issue. By facilitating the sale of unmarketable parcels the Company expects to reduce the administrative costs associated with maintaining a large number of small shareholdings.
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