Small Shareholding Sale Facility
|
25 August 2016 |
|
South32 Limited (Incorporated in Australia under the Corporations Act 2001 (Cth)) (ACN 093 732 597) ASX / LSE / JSE Share Code: S32 ISIN: AU000000S320 south32.net |
South 32 Limited
SMALL SHAREHOLDING SALE FACILITY
South32 Limited (ASX, JSE, LSE: S32) (South32) announces that it has established a small shareholding sale facility (Sale Facility) for shareholders with holdings valued at less than A$500. The Sale Facility enables eligible shareholders to sell their South32 shares without incurring any brokerage or handling costs. This initiative is expected to reduce administration costs incurred by South32.
The Sale Facility is open to shareholders on the South32 Australian register who hold less than A$500 worth of shares and whose registered address is in Australia or New Zealand. Unless eligible shareholders opt-out of participation in the Sale Facility, these shareholders will have their shares sold on market and the proceeds remitted to them free from brokerage and handling fees.
As at 18 August 2016, there are 120,915 shareholders who would be eligible to participate in the Sale Facility, representing 26.17% of total shareholders. The eligible shareholders hold 13,449,685 ordinary shares in South32, representing 0.25% of total capital.
Shareholders will have the ability to opt-out of participating in the Sale Facility and retain their shareholding. For shareholders who participate in the Sale Facility, the sale price they receive for their shares will be a volume-weighted average price of all shares sold under the Sale Facility.
A summary of the key dates in respect of the Sale Facility is as follows:
|
Event |
Date |
|
Small Shareholding Sale Facility Announcement to ASX |
25 August 2016 |
|
Letter to shareholders with holdings valued at less than A$500 |
26 August 2016 |
|
Sale Facility Closing Date |
10 October 2016 |
The letter referred to in the table above is being sent to eligible shareholders detailing the key dates for the Sale Facility and instructions for shareholders who wish to retain their shareholdings. Further information may also be found on www.south32.net.
Small shareholders who participate in the Sale Facility will remain entitled to the 2016 financial year dividend announced to the market on 25 August 2016. All sales under the Sale Facility will occur after the relevant dividend record date.
About South32
South32 is a globally diversified mining and metals company with high quality operations in Australia, Southern Africa and South America. Our purpose is to make a difference by developing natural resources, improving people's lives now and for generations to come. We are trusted by our owners and partners to realise the potential of their resources. We have a simple strategy to maximise the potential of our assets and shareholder returns by optimising our existing operations, unlocking their potential and identifying new opportunities to compete for capital.
Further information
For further information contact Computershare on 1800 019 953 (within Australia) or
+61 3 9415 4169 (outside Australia).
Further information on South32 can be found at www.south32.net.
JSE Sponsor: UBS South Africa (Pty) Ltd
25 August 2016
This information is provided by RNS
Latest directors dealings
- 49 seconds ago Sabre Insurance Group
- 10 minutes ago Aurrigo International
- 34 minutes ago Savills
- 54 minutes ago Everyman Media Group
- 2 hours ago Croda International