The annual report shows 200 holders with 560k shares (6.5% of...

The annual report shows 200 holders with 560k shares (6.5% of share float) being unmarketable. They're being offered a very ungenerous 13% below the current price.

I am pretty sure Commsec at least, will allow you to exit (sell) your total holding even if it is below $500. Sure I have done this on occasion. Maybe not but I encourage people to at least try.

The unmarketable offer is a very straight bat 5 day vwap as at yesterday which is very poor form in my opinion when the entity is being delisted because it's below true value.

The directors should back that assessment and make an offer eg 15 or 20 cents rather than try to capitalise on the misery of their captured and scarred shareholders.  Remember 5000 unmarketable shares at $0.096 now was worth $2250 this time last year at $0.45.

So let's assume the Directors are committed to the 50% buy back being as cheap as possible they will likely  offer the 5 day vwap at the EGM date with no sweetener so the share price needs to head north to 15c by 3/1/19 and stay there to get that sort of price. Any sales below that are helping them achieve the lowest possible price.

If you are wondering why I am posting here, it's mostly because myself and the other minorities in E88 got screwed by their board (look up the threads) who entered a Vol Administration 2 years ago and left us suspended in time, unable to exit and have burnt $15m  in 2 years with zero transparency. The ASX can be a pretty harsh place for small shareholders when things go wrong.

I'd at least like to see minorities here salvage something and I hope there is a chance since your board at least has had the decency to offer to buy you out not consign you to limbo.

GLTA