As previously advised, the Company has determined that due to the restrictions on being able to travel to Western Australia for shareholders residing outside Western Australia, conducting the AGM virtually would provide a greater opportunity for participation by shareholders. Division of Capital At the AGM, Shareholders are being asked to consider and pass a resolution to divide the Company’s capital.
Each shareholder on the Record Date will receive 9 shares for every 2 shares they hold at that time, with any resulting fractional entitlements being rounded up.
The Board is encouraging all Shareholders to participate in the AGM by joining the virtual meeting online, lodging questions prior to the meeting and voting either by proxy or at the meeting online.
Stuart Third Company Secretary
Dear Shareholder
You are invited to attend the Annual General Meeting (AGM) of Advanced Share Registry Ltd to be held at 10:00 am on Friday, 19 November 2021, which will be held solely online. You will be able to ask questions and vote on resolutions both prior to and during the AGM. We are providing the Notice of Meeting with this letter, and advise that it will be available online at www.advancedshare.com.au and the announcement made on 21 October 2021 through ASX.
Recent changes to the law permit the Company to provide the Notice of Meeting solely by electronic means or by link to a web version of the Notice of Meeting. We have decided to maintain the Notice of Meeting delivery (either electronically or printed) for this year so that Shareholders could be better informed of the changes. For future notices, a hard copy will only be forwarded if you make an election to receive notices in hard copy only. If you would like to make an election to receive future notices in hard copy only, you can log in to your holding through the investor login at www.advancedshare.com.au and update your preferences accordingly.
Division of Capital The Notice of Meeting contains a resolution to divide the capital of the Company, increasing the number of shares available to be traded on the market. The Board has considered the impact of the division on shareholders and believe that it is in the best interest of the Company, its current shareholders and future investors.
The division of capital increases the number of shares on issue from 42,979,500 to approximately 193,407,750. The underlying value and market capitalisation of the Company is expected to remain the same immediately after the division.
The division allows for future growth in value to be attained by existing and future shareholders at a lower entry cost to the investment. Whilst past performance is no guarantee of future performance, the Company has been able to continue generating income in the current environment and increasing profits. It is intended that shareholder value will be maintained through the continued payment of ordinary dividends at similar pro-rated as currently exists.
For example, a 2c dividend declared under the current capital structure would be declared as a 0.444c dividend under the new capital structure. The Board encourages Shareholders to participate in the meeting online and through voting via proxy, and we thank you for your ongoing support of the Company. Yours faithfully
DYOR
( i hold ASW )
HUH ?
ASW is currently roughly $1 a share ( $1.045 at the close ) and they want to split it to a ( roughly ) 25c new share
now split BKL ( i hold ) ( currently $101.00 ) by 5 into a $20 share ( which management is firmly against ) yeah i can see the logic
i also hold APE which DID a split into 5 back in 2012 from a ( roughly ) $10 share into a ( roughly ) $2 new share ( tonight closed at $14.99 )
but split to a share of LESS than $1 ( for ASW ) ( after spending YEARS of around 60c to 70c )
but keep watching maybe confused punters will unload the NEW shares for sub 20c
CAUTION i doubt the share ( after the split ) will be liquid enough for many to trade
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