Metminco establishes sale facility for small shareholders

Metminco gave its small holding investors an opportunity to sell their shares without incurring brokerage or handling costs on Friday, announcing a share sale facility for those holding fewer than 11,111 shares, which equated to a market value of less than AUD 500.

The AIM and ASX-traded company said it was aimiing to reduce its costs associated with maintaining its share register.

“Eligible small shareholders should note that Metminco will be entitled to sell their shares if they do not take action to retain their shareholding,” said managing director William Howe in his letter to investors.

The closing date for eligible small shareholders to elect to retain their shareholding in Metminco was set as 1700 AEST on 25 August.