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Thor Mining offers CDI small parcel sale facility to ASX shareholders
Thor Mining said it was providing a CHESS Depositary Interest (CDI) sale facility for holders of less than a marketable parcel of CDIs in the company.
The AIM-listed miner said the facility was only applicable to shareholders holding CDIs quoted on the Australian Securities Exchange (ASX).
Under ASX Listing Rules, a process exists which allows listed entities to provide holders of parcels of securities valued at below AUD$500 the opportunity to sell those holdings without incurring brokerage or other transaction fees, Thor said.
Thor said it was providing the facility for those for whom the extra fees"could otherwise make a sale of their CDIs uneconomic and/or difficult"
"The company will endeavour to obtain the highest available price for the CDIs and will organise remittance of sale proceeds for those CDI holders who participate in the facility," Thor said.
"By making this facility available, the company also expects to reduce the administrative costs associated with maintaining a large number of small holdings."
Thor said that at April 11, the company had about 3,036 CDI holders, of which approximately 2,551 hold less than a marketable parcel, comprising 3,732,834 CDIs in aggregate or 2.64% of all issued CDIs.