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ETHERSTACK PLC — Regulatory Filings 2024
Apr 23, 2024
64877_rns_2024-04-23_60efbeb1-475c-4d59-aa69-2ee36d7c3295.pdf
Regulatory Filings
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ASX ANNOUNCEMENT 24 April 2024
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Completion of Minimum holding share buy-back
Etherstack plc (ASX: ESK) (Etherstack or Company) advises that further to the ASX announcement on 15 March 2024, the Company has completed the minimum holding share Buy-Back for holders of less than marketable parcels of shares in the Company. Under the ASX Listing Rules, any shareholding valued at less than $500 is considered to be an “unmarketable parcel” of shares.
The Buy-Back allowed shareholders who hold unmarketable parcels of ordinary shares in the Company to sell their shares back to the Company without incurring brokerage fees and other expenses, at the Buy-Back Price of $0.226 per share, being the simple average of the last sale prices of the Company’s shares as quoted on the ASX for each of the 5 trading days before the Record Date.
In accordance with the terms of the Buy-Back, Eligible Shareholders had until the Closing Date of 5.00pm (EST) on 19 April 2024 to opt-out of the Buy-Back, increase their shareholding to a marketable parcel of more than 2,272 shares or consolidate multiple holdings into a single holding of greater than 2,272 shares. Eligible shareholders that did not exercise any of these options by the closing date had their shares bought back under the Buy-Back at the buy-Back Price of $0.226 per share.
Etherstack is pleased to announce that it has now completed the Buy-Back, under which it has bought back and cancelled 293,118 fully paid ordinary shares from 211 shareholders. The Buy-Back is not considered to be material and the number acquired is less than 0.23% of Etherstack’s issued share capital.
An Appendix 3H (Notification of Cessation of Securities) will follow this announcement.
Payments will be distributed to participants as soon as practicable. Etherstack has paid all costs associated with the Buy-Back and transfer of Shares through the Facility (excluding any bank charges associated with shareholders receiving their proceeds and the tax consequences of the sale, which will be the responsibility of the relevant shareholder).
The Company strongly encourages all shareholders to update their banking and contact details online through Computershare's Investor Centre website.
Alternatively, you may contact Computershare on 1300 850 505 (within Australia) or +6139415 4000 (outside Australia). Payment will be made in Australian dollars via direct credit of the bank account which is recorded on the register, otherwise, you will receive an A$ cheque.
If you have any questions in relation to the above, please contact Computershare Investor Services Pty Limited on 1300 850 505 (within Australia) or +6139415 4000 (outside Australia).
Authorised for release by David Carter, Company Secretary
English Registered Company No. 7951056 | ARBN 156 640 532
London (GMT) P : +44 207 734 0200 [email protected]
Sydney (GMT +10) P: + 61 2 8399 7500 [email protected]
Yokohama (GMT +9) P : +81 45 342 9050 [email protected]
New York (GMT-5) P : +1 917 661 4110 [email protected]
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Enquiries
Etherstack David Carter, Chief Financial Officer T: +61 2 8399 7500 [email protected]
About Etherstack plc (ASX:ESK)
Etherstack is a wireless technology company specialising in developing, manufacturing and licensing mission critical radio technologies for wireless equipment manufacturers and network operators around the globe. With a particular focus in the public safety, defence, utilities, transportation and resource sectors, Etherstack's technology and solutions can be found in radio communications equipment used in the most demanding situations. The company has R&D facilities in London, Sydney, New York and Yokohama.
For more information
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Follow us on LinkedIn Visit our website: www.etherstack.com
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Subscribe to our mailing list to receive updates
English Registered Company No. 7951056 | ARBN 156 640 532
London (GMT) P : +44 207 734 0200 [email protected]
Sydney (GMT +10) P: + 61 2 8399 7500 [email protected]
Yokohama (GMT +9) P : +81 45 342 9050 [email protected]
New York (GMT-5) P : +1 917 661 4110 [email protected]
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