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WESTSTAR INDUSTRIAL LIMITED — Capital/Financing Update 2020
Aug 24, 2020
66084_rns_2020-08-24_0db1e0bf-ddd7-4f25-a791-c04409fb36b2.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
25 August 2020
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Unmarketable Parcel Sale Facility Completed
WestStar Industrial Limited (Company or WestStar) (ASX: WSI); an Australian industrial services company providing engineering, construction and mining services to the resources, energy and infrastructure sectors, advises that it has completed the Unmarketable Parcel Sale Facility (Facility) as announced on 15 June 2020. The ASX Listing Rules define an Unmarketable Parcel of fully paid ordinary shares as one with a market value of less than $500.
The Company established the Facility to assist shareholders with small parcels of shares in the Company to sell those shares cost effectively and simply. This also assists the Company to reduce administrative costs associated with maintaining a large number of small holdings.
In line with the terms of the Facility, a total of 3,879,521 shares (~0.4% of total shares on issue) were sold at an average price of $0.013 per share. Following the completion of the Sale Facility, the total number of shareholders was reduced by 1,052 to ~780.
Shareholders with a small parcel at the close of business on the record date (12 June 2020) who did not opt to retain their shares should expect to receive their consideration within ten business days by way of cheque. All costs associated with the sale of the small parcels are being borne by the Company.
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For further information please contact:
Philip Re Robert Spadanuda +61 8 6380 2555 +61 8 6380 2555 [email protected] [email protected]
About WestStar
WestStar Industrial Limited (ASX: WSI) is an industrial, steel fabrication, installation and maintenance services company focussed on the resources, oil and gas, water and infrastructure sectors.
ASX release authorised by the Board of Directors of WestStar Industrial Limited.
WestStar Industrial Limited | Suite 1, 437 Roberts Road, Subiaco, WA 6008 | ABN 38 119 047 693 | weststarindustrial.com.au Page 1