TIDMMNC
RNS Number : 0856L
Metminco Limited
14 July 2017
AIM ANNOUNCEMENT 14 July 2017
SMALL HOLDING SALE FACILITY
Metminco Limited (Metminco or the Company) (ASX: MNC; AIM: MNC)
is pleased to announce that pursuant to its constitution it has
established a share sale facility (Sale Facility) for shareholders
who hold a Small Holding of shares in the Company (Small
Shareholders).
Under ASX Listing Rules and the Company's constitution a Small
Holding is defined as:
-- a shareholding with a market value of less than A$500, and therefore
-- any shareholding of 11,111 shares or less in the Company,
based on the closing share price of 4.5 cents on the Record Date
(Monday, 10 July 2017) is deemed to be a Small Holding.
Metminco is offering the Sale Facility to provide the
opportunity for eligible shareholders to sell their Small Holding
without incurring any brokerage or handling costs. The Company also
aims to reduce its costs associated with maintaining its share
register.
Details of the Sale Facility are contained in the attached
letter and information pack which was sent to eligible Small
Shareholders today.
Eligible Small Shareholders should note that Metminco will be
entitled to sell their shares if they do not take action to retain
their shareholding as outlined in the attached letter. The closing
date for eligible Small Shareholders to elect to retain their
shareholding in Metminco is 5.00pm (AEST) on Friday, 25 August
2017.
For more information please refer to the attached letter and
information pack.
William Howe
Managing Director
METMINCO LIMITED
This announcement contains inside information as stipulated
under Article 7 of the Market Abuse Regulation (EU) No.
596/2014
Metminco Limited ABN Suite 401, 6 Help Street,
43 119 759 349 Chatswood, NSW, 2067
ASX Code: MNC.AX; AIM Tel: +61 (0) 2 9460 1856;
Code: MNC.L Fax: +61 (0) 2 9460 1857
www.metminco.com.au
Level 4, 6 Help Street
Chatswood NSW 2067 Australia
T: +61 (0)2 9460 1856
F: +61 (0)2 9460 1857
13 July 2017
[Shareholder]
[Address]
SALE OF YOUR SMALL HOLDING IN METMINCO LIMITED
Dear Shareholder,
I am writing to you to advise that Metminco Limited (Metminco or
the Company) has established a share sale facility (the Sale
Facility) for eligible small shareholders to sell their
shareholding in the Company without incurring any brokerage or
handling costs.
The Sale Facility is available to Shareholders with a holding in
the Company with a market value of less than $500 (Small Holding)
as at 5.00pm AEST on Monday, 10 July 2017 (Record Date).
[1] All dollar amounts referred to in this notice are in
Australian dollars.
Metminco is offering the Sale Facility to assist Shareholders
who wish to liquidate their Small Holding, but who find doing so
difficult or time consuming with the brokerage cost often high. The
proposed sale of your Small Holding provides you with a convenient
and brokerage free way to sell your Shares easily.
No owner of a Small Holding who wishes to retain their Metminco
Shares will be compelled to sell their holding.
Small Holdings
Based on the closing price of $0.045 per Share at the close of
trade on the Record Date, a Small Holding is any holding of 11,111
Shares or less. Our records show that as at the Record Date you
held a Small Holding.
Unless you inform us that you wish to retain your Small Holding,
the Company intends to sell your Small Holding. The Shares will be
sold at $0.0465 per Share being the 5 Day VWAP preceding the Record
Date. You will not pay any brokerage or other transaction costs
associated with the sale.
If you wish to retain your Shares, you will need to complete and
return the enclosed Share Retention Form.
Summary of key dates
Record Date Monday, 10 July
2017
------------------------------ --------------------
Dispatch Date of Notice Thursday, 13 July
to Holders of Small Holdings 2017
and Share Retention Form
------------------------------ --------------------
Announcement Date Friday, 14 July
2017
------------------------------ --------------------
Closing Date Friday, 25 August
2017
------------------------------ --------------------
Settlement Date Wednesday, 30 August
2017
------------------------------ --------------------
What you need to do
If you wish to sell your Small Holding, you do not need to take
any action. Your Shares will be sold after the Closing Date at
$0.0465 per Share. Proceeds of the sale of your Small Holding,
subject to the proceeds being in excess of $2.00, will be sent to
you in the mail by cheque as soon as practical thereafter. If your
proceeds are less than $2.00, the Company will donate the proceeds
to the Cancer Council NSW (ACN 116 463 846) on your behalf.
If you do not wish to sell your Small Holding
Complete and return the enclosed Share Retention Form to:
Metminco Limited
C/- Link Market Services Limited
Locked Bag A14
Sydney South NSW 1235
Australia
To be received no later than 5.00pm AEST on Friday, 25 August
2017.
How will your Metminco Shares be sold:
The Company has arranged for Martin Place Securities to buy the
Small Holdings at A$0.0465 per Share after the Closing Date.
The Company reserves the right to vary, delay or cancel the sale
of your Small Holding and not proceed with any sale of Shares at
any time before your Small Holding is sold.
Important information
The Company makes no recommendation as to whether you should
hold or sell your Small Holding. You should seek independent
professional advice; when deciding whether or not to elect to
retain your Shares; the taxation implications of that decision; or
if you have any questions on how the sale of your Small Holding may
affect you.
The taxation implications for each investor may vary depending
on their particular circumstances. Accordingly, it is recommended
that you seek your own professional advice in relation to the
taxation implications associated with us selling your Small
Holding.
Further information
For further information please read the enclosed information
pack. If you have any questions about the contents of this letter
or general questions about the proposal, please contact:
Link Market Services Limited
Phone: 1300 554 474
Email: registrars@linkmarketservices.com.au
Yours sincerely,
Philip Killen
CFO and Company Secretary
METMINCO LIMITED
INFORMATION PACK FOR THE SMALL HOLDING SALE FACILITY
What is a Small Holding of shares?
A Small Holding of shares is a holding of Shares valued at less
than $500 as at the close of trade on the Record Date. Based on the
price of Metminco's Shares at the Record Date ($0.045), this
equates to a holding of 11,111 Shares or less.
Where does the Company's authority come from?
Under ASX Listing Rule 15.13 and clause 9.6 of the Company's
constitution, the Company may notify shareholders with a Small
Holding that it intends to sell their Shares.
What is the price of the Shares?
The closing price of Metminco Shares at the Record Date was
$0.045. You should note that the share price changes frequently and
more recent prices are available in newspapers and from the
Company's website: www.metminco.com.au or the ASX website
(www.asx.com.au) under code MNC.
What do I have to do to sell my Shares through the Sale
Facility?
If you wish to sell your Shares under the Sale Facility you do
not need to take any action. Your Shares will be sold on your
behalf and the proceeds of the sale, subject to the proceeds being
in excess of $2.00, will be sent to you in the mail by cheque as
soon as practical thereafter. If your proceeds are less than $2.00,
the Company will donate the proceeds to the Cancer Council NSW (ACN
116 463 846) on your behalf.
You should not complete the enclosed Share Retention Form if you
want your Shares sold under the Sale Facility.
What price will I receive for shares sold through the Sale
Facility?
The price that you receive for your Shares under the Sale
Facility will be $0.0465 per Share being the 5 Day VWAP preceding
the Record Date.
When will the proceeds from the sale of Shares be sent to
me?
Payment will be sent to you following settlement of the sale as
soon as practical thereafter.
Payment will be made in Australian dollars by cheque. You will
be notified by way of a transaction confirmation statement of the
number of your Shares that have been sold, the price and total sale
proceeds. The transaction confirmation statement and cheque will be
sent by post to your address as shown in the Company's share
register.
What do I have to do if I wish to retain my Shares?
If you wish to retain your Shares, you must sign and return the
enclosed Share Retention Form so that it is received before the
Closing Date, being no later than 5.00pm AEST on Friday, 25 August
2017. It is your responsibility to allow sufficient time for this
to be received. Please note that the Company does not accept
responsibility for the time taken by Australia Post for
delivery.
If your Share Retention Form is not received by the Closing
Date, and you have not otherwise validly notified the Company that
you wish to retain your Shares by that time, the Company will be
entitled to have your Shares sold for you.
Your Share Retention Form must be sent to:
Metminco Limited
C/- Link Market Services Limited
Locked Bag A14
Sydney South NSW 1235
Australia
To be received no later than 5.00pm AEST on Friday, 25 August
2017.
If I buy more Shares so that the value of my holding is $500 or
more at 5.00pm AEST on the Closing Date will I retain my
holding?
For a purchase of Shares to be an effective notification that
you wish to retain your Shares, any additional Shares acquired must
be registered by 5.00pm AEST on Friday, 25 August 2017 under the
same name and address and with the same holder number (SRN or HIN)
as set out in the accompanying Share Retention Form.
What if I have more than one holding?
If you have more than one holding of Shares and you do not want
to sell your Shares under the Sale Facility, you should consider
consolidating them prior to the Closing Date. This may result in
your amalgamated holding no longer being a Small Holding. For
further advice regarding this please contact:
Link Market Services Limited
Phone: 1300 554 474
Email: registrars@linkmarketservices.com.au
What if my Shares are held in a CHESS Holding?
If your shares remain in a CHESS holding at 5.00pm AEST on
Friday, 25 August 2017 the Company may move those Shares to an
Issuer Sponsored Holding without any further notice to you and the
Shares will be sold through the Sale Facility.
Where can I get further information?
If you have any questions concerning your shareholding please
contact:
Link Market Services Limited
Phone 1300 554 474
Email: registrars@linkmarketservices.com.au
What if I do not know what to do?
This information pack and accompanying letter does not
constitute advice nor a recommendation to buy, sell or hold Shares
nor that the Sale Facility is the best way to sell your Small
Holding. If you are in doubt about what to do, you should consult
your legal, financial or taxation adviser.
Important Notes
Metminco reserves the right to change any of the dates referred
to in the accompanying letter by notice to the ASX. The Directors
may, before a sale is affected under the Sale Facility, suspend or
terminate the Sale Facility, either generally or in specific
cases.
For further information,
please contact:
METMINCO LIMITED
Phil Killen Office: +61 (0) 2
9460 1856
NOMINATED ADVISOR AND BROKER
RFC Ambrian
Australia
Will Souter / Nathan Forsyth Office: +61 (0) 2
9250 0000
United Kingdom
Charlie Cryer Office: +44 (0) 20
3440 6800
JOINT BROKER
SP Angel Corporate Finance
LLP (UK)
Ewan Leggat Office: +44 (0) 20
3470 0470
PUBLIC RELATIONS
Camarco
United Kingdom
Gordon Poole / Tom Huddart Office: + 44 (0) 20
3757 4997
MEDIA
Media & Capital Partners
Australia
Luke Forrestal Office: + 61 (0) 411
479 144
Forward Looking Statement
All statements other than statements of historical fact included
in this announcement including, without limitation, statements
regarding future plans and objectives of Metminco are
forward-looking statements. When used in this announcement,
forward-looking statements can be identified by words such as
"anticipate", "believe", "could", "estimate", "expect", "future",
"intend", "may", "opportunity", "plan", "potential", "project",
"seek", "will" and other similar words that involve risks and
uncertainties.
These statements are based on an assessment of present economic
and operating conditions, and on a number of assumptions regarding
future events and actions that, as at the date of this
announcement, are expected to take place. Such forward-looking
statements are not guarantees of future performance and involve
known and unknown risks, uncertainties, assumptions and other
important factors, many of which are beyond the control of the
Company, its directors and management of Metminco that could cause
Metminco's actual results to differ materially from the results
expressed or anticipated in these statements.
The Company cannot and does not give any assurance that the
results, performance or achievements expressed or implied by the
forward-looking statements contained in this announcement will
actually occur and investors are cautioned not to place undue
reliance on these forward-looking statements. Metminco does not
undertake to update or revise forward-looking statements, or to
publish prospective financial information in the future, regardless
of whether new information, future events or any other factors
affect the information contained in this announcement, except where
required by applicable law and stock exchange listing
This information is provided by RNS
The company news service from the London Stock Exchange
END
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