Sealegs Completes Share Sale
03 March 2005
3 March 05
Sealegs Completes Share Sale
Listed marine company, Sealegs Corporation Limited (NZX:SLG), has today announced that it has actioned the sale of parcels comprising less than the NZX minimum holdings held by company shareholders (less than 1000 shares). The shares were crossed today on the New Zealand Stock Exchange at 36 cents per share. A total of 840,000 shares have been sold pursuant to this process.
Shareholders were written to twice over the last three months and told that they needed to either dispose of their shares or increase their holdings to the minimum holding to avoid their shares being compulsorily sold. The shareholders affected by today’s sale were those who decided to take no action.
Shareholders affected will be advised of the outcome of the sales process and sent their net proceeds within the next two weeks.
