JOHANNESBURG (miningweekly.com) – Diversified miner South32 has closed its small shareholding sale facility, which is aimed at reducing administration costs.
The sale facility enabled shareholders on South32’s Australian register, with addresses in Australia or New Zealand and holdings valued at less than A$500, to sell their shares without incurring brokerage or handling costs.
At the close of the sale facility on October 10, there were 9.08-million ordinary shares to be sold, held by 92 873 shareholders.
The shares were sold at A$2.61 apiece, representing the volume-weighted average price achieved over the five-day period from October 20 to October 26.
Sale proceeds will be paid on November 9.