Cellent to reduce number of shareholders

Cellent to reduce number of shareholders

Flash memory and mobile phone accessory distributor Cellnet (ASX:CLT) has announced plans for a share sale facility to decrease its number of shareholders with small holdings.

The company intends to declare securities with a value of less than $500 to be unmarketable parcels. The move is being made to reduce Cellnet's administrative costs in communicating with its various shareholders.

A letter will be mailed to eligible shareholders by the end of March, Cellnet said. CLT shares stayed flat on Monday at $0.430.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Error: Please check your email address.

Tags distributionshare sale facilityunmarketable parcelcellnetASX:CLT

Show Comments

Market Place