(MENAFN- ABN Newswire) Sydney, Oct 23, 2017 AEST (ABN Newswire) - BIG Un Limited () is pleased to announce that it has established a share sale facility for holders of small parcels of shares in the Company.
The ASX Listing Rules defines a "marketable parcel" as a parcel of securities not less than $500. As at market close on 13 October 2017 (Record Date) an unmarketable parcel of shares is any shareholding of 253 ordinary shares or less, based on the closing price of $1.97. This represents 147,814 ordinary shares (0.105% of all issued shares) held by approximately 3,199 shareholders (Minority Holder).
The Company is offering this facility as it provides the following benefits:
- to assist holders of an unmarketable parcel to sell their shares without having to incur brokerage or handling costs which, in proportion to the value of their holding, may otherwise make a sale unattractive or uneconomical; and
- to reduce the administration costs associated with maintaining a large number of small holdings.
If a Minority Holder wishes to retain their shares, they must complete and return the personalised retention form to BIG's share registry so that it is received by 5:00pm (AEDT) on Friday 4th December. If a Minority Holder wishes to sell their BIG shares, they do not need to take any action.
If a Minority Holder does not return the retention form or increase their holding up to a marketable parcel by the Record Date, then their shares will be sold.
Proceeds will be forwarded to those shareholders who take advantage of the facility as soon as practicable upon sale of their holdings.
Attached is a copy of the letter and a sample retention form (see link below) that is being distributed to shareholders holding an unmarketable parcel of shares in BIG on the Record Date.
To view the letter and the form, please visit:
About Big Un Ltd
() is the parent company of Big Review TV Ltd. Big Review TV are innovative disruptors in the online video space delivering subscription based video technology products and services. The Company has operations across Australia and in New Zealand, the United Kingdom and the United States, Hong Kong, Singapore and Vancouver and was listed on the ASX in December 2014.
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