Ann: 2017 AGM Addresses, page-5

mop-up of unmarketable parcels would be a positive (imho)

"

Listing Rules
The relevant ASX Listing Rule is L/R15.13 (Small Holdings) which allows a company
to sell the shares of holders of unmarketable parcels, no more than once in any 12
month period, provided its Constitution makes provision for such and the following
terms are followed:
i) Shareholders must be notified in writing of the intended sale
ii) Shareholders must be given at least 6 weeks' notice before the small holdings
sale takes place
iii) Shareholders must be given the ability to 'opt out' of the sale - ie, to advise
that they wish to remain as shareholders
iv) The company (or the purchaser/s) must pay the costs of sale
v) The holding must still be an unmarketable parcel at the date of sale
vi) Proceeds must be sent promptly to [former] holders after the sale.
In addition, the company must be careful not to imply [in the notice/letter] that
because a holding is classified as being less than a 'marketable parcel' for the​

purposes of the Listing Rules, the parcel is not capable of being sold on market.
"

Price - depends upon constitution:

typ its a 5-day vwap ......

often a broker stands in the middle, gets paid a fee, and assists the company in the above.....

I (personally) liked the 2m additional ebit contribution .........which is prob why the stock went up

rgds
V_H