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Media Release: COMPLETION OF SHARE SALE FACILITY

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Business

WireService.ca Media Release (02/13/2018) PERTH, WESTERN AUSTRALIA - Serpentine Technologies Ltd (ASX: S3R) ("Serpentine" or the "Company") is pleased to announce the completion of the Share Sale Facility for holders of less than a marketable parcel of ordinary shares in the Company ("Facility").

On 27 December 2017, Serpentine announced a share sale facility for shareholders who owned less than $500 value of shares. The Company provided the Facility so that holders of less than a marketable parcel could sell their shares without incurring any brokerage or handling costs which, in proportion to the value of their holding, may otherwise render a sale unattractive or uneconomical.

The Facility closed on Friday, 2 February 2018, with 62 shareholders electing to retain their shareholding and one shareholder electing to donate their shareholding to charity. The remaining Facility Shares of 3,999,489 held by 202 shareholders, have been sold on terms previously announced to the ASX on 27 December 2017. Australian residents will be paid their sale proceeds in Australian dollars by direct credit to an account held with an Australian Financial Institution. Non-residents who do not have an Australian bank account will be paid in Australian dollars by cheque.

On behalf of Serpentine Technologies Limited

Brett Tucker
Company Secretary

 


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