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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.