Small Shareholding Sale Facility Completed
Wednesday, 11 May 2011: Environmental Clean Technologies Limited (ASX:ESI) is pleased to announce the Small Shareholding Sale Facility (SSSF) as advised to the market on 4th March 2011 has a been completed.
In accordance with the terms and conditions of the SSSF the Company has sold on behalf of 1,536 Eligible Shareholders a total of 6,661,069 ESI ordinary shares at sale price of 2.3 cents per share, being the simple average of the last price over the ten trading days prior to the sale as required in the Company’s Constitution.
All shareholders who on 3rd March 2011 held 26,315 shares or less received letters in respect of the SSSF however the share price immediately following the closing date of the SSSF was 2.2 cents and as a result shareholders with 22,728 or more shares were ineligible to participate in the SSSF as proscribed by the Company’s Constitution.
This completes the SSSF.
Proceeds from the sale of shares sold under the SSSF are due to be paid to Eligible Shareholders by 24th May 2011. Transaction advices will be mailed to Eligible Shareholders at the same time.
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