Minimum Holdings Notice
GENERAL
Wed, Apr 20 2022 02:04 pm
20 April 2022
Minimum Holdings Notice
Under Contact’s constitution and the NZX Listing Rules, Contact is permitted to exercise a power of sale of shares held by any person with less than a Minimum Holding, being a parcel of shares with a value less than NZ$1,000.
Contact recognises that it is difficult for some shareholders to sell small parcels of shares because the cost of brokerage can be disproportionately high relative to the value of their shareholding. Contact is also concerned about the ongoing cost of maintaining a large number of small holdings on its share register. Accordingly, the Contact Board has determined that it will exercise its power of sale of shares held by any person with less than a Minimum Holding on the New Zealand register only. The Minimum Holding has been set at 126 shares, based on the average market price of Contact shares as at 19 April 2022.
The attached notice has been sent to affected shareholders today.
-ends-
Investor enquiries
Matthew Forbes
+64 21 072 8578
Announcement PDF
Markets News
Markets
Market close
NZ sharemarket rocked by US inflation data
The S&P/NZX 50 Index closed at 141.34 points or 1.18%.
Markets
Australian company seeks A$30m for Otago gold mining
Santana Minerals wants to 'rapidly advance' a South Island gold mining project.
Markets
Market close
NZ sharemarket celebrates highest single-day rise in over five months
The S&P/NZX 50 Index closed at 11,946.43, increasing 143.15 points or 1.21%.
