Propell Holdings (ASX:PHL) established a small shareholding sale facility for shareholders holding less than AU$500 worth of shares, the company said in a Tuesday Australian bourse filing.

As of March 21, the company had about 321 shareholders with a small shareholding, the filing said.

The sale facility is available to shareholders who held up to 41,666 shares on that day, based on the closing price of $0.012 per share.

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.