UNMARKETABLE PARCEL SHARE SALE FACILITY 

Hygrovest Limited (ACN 601 236 417) (ASX: HGV) (“HGV” or the “Company”) is an Australian-listed specialist investment company which concentrates on producing capital growth for shareholders over the medium term from investments in listed and unlisted equities and debt securities.

HGV Unmarketable Parcel Share Sale Facility

1. HGV has today announced a buy-back for holders of less than marketable parcels of shares in HGV (“Buy-Back”). Under the ASX Listing Rules, any shareholding valued at less than $500 is considered to be a ‘less than marketable parcel’ (or ‘unmarketable parcel’) of shares. The Buy-Back will allow shareholders who hold less than marketable parcels of shares in HGV (“Eligible Shareholders”) to sell their shares back to HGV at the Buy-Back price of $0.052 per share, that being the average of the closing prices of HGV for the ten day trading period immediately preceding the offer (the ten day trading period concluding close of trading on 27 April 2023) (the “Buy-Back Price”). Shares purchased by HGV under the Buy-Back will be cancelled in accordance with section 257H of the Corporations Act 2001 (Cth).

Based on the Buy-Back Price per share and HGV’s register of members as at 5.00pm (Perth time) on 27 April 2023 (the “Record Date”):

1. a less than marketable parcel of shares is any shareholding of 9,607 shares or fewer;
2. currently 7,198 HGV shareholders hold unmarketable parcels totaling 22,894,123 shares (around 10% of HGV’s shares on issue); and
3. the aggregate value of HGV shares held by all holders of unmarketable parcels based on the Buy-Back Price is $1.2m.

Read the full announcement here