Consolidation of Small Parcels - Amendment of Terms
SYDNEY, Australia, Friday 4 October 2019: On 10 September 2019, Uscom Limited (ASX code: UCM) (the Company or Uscom) established a sale facility for holders of unmarketable parcels of shares in the Company, being a parcel of shares with a value of less than $500.
Included in the Announcement were the Terms and Conditions (“Terms”) of the facility. Paragraph 5 of the Terms stated that the sale price of the Uscom Shares would be $0.11. The Uscom Constitution provides that Uscom may sell the shares at “as soon as practicable at the best price reasonably obtainable for the shares at the time they are sold”. Therefore, paragraph 5 and 6 of the Terms are amended to accord with the Constitution and our amended as follows:
“5. What is the sale price?
The Company will sell the shares at a price which the directors consider to be the best price reasonably obtainable for the shares at the time they are sold.
6. When will my UCM shares be sold?
Sales of shares will occur on the ASX as soon as practicable after the expiry of the Notice Date (“Sale Period”).”