Credit Clear (ASX:CCR) made a small shareholding sale facility for shareholders holding less than AU$500 worth of shares, the company said in a Friday Australian bourse filing.
As of Wednesday, the company had about 457 shareholders with a small shareholding, the filing said. The sale facility is available to shareholders who held between 1 and 1,694 shares on that day, based on the closing price of $0.295 per share.
Shareholders who wish to sell their small shareholding through this facility will receive the volume-weighted average price for their shares, per the filing.
The company expects the facility to help reduce the administrative costs associated with maintaining a large number of small shareholdings on its shareholder register, the filing added.
The company's shares were down almost 2% in recent Friday trade.
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