Valence Industries Sale of Unmarketable Parcels Completed
16.05.2014 | ABN Newswire
Sydney, Australia (ABN Newswire) - Valence Industries Ltd. (ASX:VXL) (VXLO) ("Valence" or "the Company") announces that the sale of unmarketable parcels of shares has been completed.A total of 530,263 sale shares from 1,495 individual shareholders became available for sale on 22 April 2014.
The sale process has been completed and proceeds will be disbursed to shareholders shortly.
A total of 1,622 shareholdings were classified as holding less than a marketable parcel under the Company's constitution at the record date of 20 February 2014. Of this, 127 shareholders notified the Company of the intention to retain their shareholding with the remaining 1,495 shareholdings to be sold.
After the sale of Unmarketable Parcels, Valence had 2,794 shareholders.
The distribution of shareholders is as follows:
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Distribution of Distribution of
Holders before Holders after
the sale of consolidation of
unmarketable parcels unmarketable parcels
for sale as at 23 April
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1 -1,000 1,360 78
1,001 - 5,000 1,160 944
5,001 -10,000 487 489
10,001 -100,000 1,069 1,067
100,001 and above 216 216
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TOTAL 4,292 2,794
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About Valence Industries:
Valence Industries Ltd. (ASX:VXL) is an industrial manufacturing company producing high grade flake graphite products for distribution and sale to global markets. Valence Industries owns established processing facilities and infrastructure to manufacture a wide range of graphite product lines for multiple applications and multiple industries. Valence Industries produces and sells its graphite products from its Uley Graphite facilities in regional South Australia for delivery to diversified markets for graphite in the Asia Pacific, Europe and North America.
Contact:
Valence Industries
Jaroslaw (Jarek) Kopias
CFO & Company Secretary
E: info@valenceindustries.com
T: +61-8-8418-8564