Farmer ASX RELEASE 11 FEBRUARY 2016 UNMARKETABLE PARCEL SHARE...

Farmer
ASX RELEASE 11 FEBRUARY 2016
UNMARKETABLE PARCEL SHARE SALE FACILITY
Torian Resources Ltd (ASX:TNR) (Torian or Company) has a large number of shareholders, many of whom hold unmarketable parcels. While the Company values all of its shareholders, maintaining such a large share register is a significant expense for the Company. To reduce these administration costs, on 24 December 2015, the Company announced an unmarketable parcel sale facility for holders of unmarketable parcels of the Company’s shares. Shareholders of unmarketable parcels who did not want their shares sold through the facility were to complete a Notice of Retention and return the same to the Company by no later than 5.00pm (WST) on Thursday, 4 February 2016.
Torian received 642 completed Notice of Retention Forms for a total of 1,498,799 shares from holders of unmarketable parcels by the cut-off date. Further, a number of shareholders increased their holding or amalgamated multiple holdings during the period so they no longer held unmarketable parcels.
The remaining unmarketable parcels for a total of 1,073,165 shares will now be sold in accordance with the share sale facility. The proceeds received by the Company from the sale of the unmarketable parcel will be paid to the relevant shareholder within fourteen days of the Company receiving the moneys from the sale, or otherwise as soon as is practicable.