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Trading Shares in Boorowa Community Financial Services Limited

Boorowa Community Bank® Branch is operated by Boorowa Community Financial Services Limited. Boorowa Community Financial Services Limited also operates a Special Market called a Low Volume Market (LVM), to facilitate the trading of its shares. The conditions of this market are set out below.

Special Market Condition Notices - Low Volume Market (LVM)

Boorowa Community Financial Services Limited does not hold a license to operate a financial market and is not subject to market obligations, in particular the obligation to ensure that the market is fair, transparent and orderly. The market is covered by an exemption under section 791C of the Corporations Act. Boorowa Community Financial Services Limited does not provide a settlement service for trading in the market – it is the responsibility of the parties to a transaction to arrange payment between themselves.
Click on the following link to download a copy of the Corporations (Low Volume Financial Markets) Instrument 2016/888 in PDF format from the ASIC website: https://www.legislation.gov.au/Details/F2016L01501.
Shares in Boorowa Community Financial Services Limited have characteristics that may differ from mainstream securities.
Special characteristics of Community Bank® companies
  • ‘One shareholder one vote’ constitutions rather than ‘one share one vote’.
  • Shareholder limit of 10% of issued capital for individuals and related entities.
  • There is a limit on profits that can be distributed to shareholders, including through dividends. By way of overview, the limit is the higher of: (a) 20% of the profits of the Company otherwise available for distribution to shareholders in the financial year, and (b) the relevant rate of return (being the weighted average interest rate on 90 day bank bills over the 12 month period plus 5%) multiplied by the average level of share capital over the 12 month period.
  • Persons who do not possess a ‘close connection’ with the community served by Boorowa Community Financial Services Limited can be prohibited from acquiring shares in the Company.
  • Share transfers which result in the number of shareholders in Boorowa Community Financial Services Limited falling below a fixed ‘Base Number’ will be prohibited.
  • These restrictions are intended to embed the community nature of Boorowa Community Financial Services Limited.

Directors of Boorowa Community Financial Services Limited have the right to refuse to register any transfer of shares in their unlimited discretion.

Full details of the restrictions on holding shares and Directors’ powers to refuse to register a transfer of shares are set out in the Company’s constitution. A copy of the constitution is available on request from the Company Secretary:

Michelle Fahey
Boorowa Community Financial Services Limited
PO Box 81 Boorowa NSW 2586
michelle.fahey@det.nsw.edu.au

Prudent share purchasers will consider whether they should insist on Board approval of the share transfer as a condition precedent to their obligation to pay purchase money.

Stamp duty may apply in your State/Territory. Please refer to the State Revenue Office in your State for details.

Trade History
Most recent share trades for Boorowa Community Financial Services Limited
Date Parcel Price (Per Share)
10/09/2018 1000 $1.12
27/03/2017 200 $1^
15/03/2017 5000 $1^
20/02/2017 500 $1.1
20/01/2014 1000 $1
21/11/2013 500 $1
21/03/2013 1000 $1^
15/02/2013 500 $1^
17/04/2012 2500 $1^
03/01/2012 500 $1^
03/01/2012 500 $1^
08/09/2011 1000 $1^
^ This trade did not occur through the company’s Low Volume Market.
Register of Interested Parties
Full list of interested traders including number of shares and desired trading price
Buyers
Parcel Max Purchase Price (Per Share) ID Interest Lodged
3000 $1.15 20 24/05/2019
1000 $1.1 23 24/05/2019
500 $1 22 01/05/2019
30000 $1 21 23/02/2019
1000 $1 18 11/04/2018
2000 $1.1 17 09/04/2018
1000 $1 16 24/01/2018
4000 $1.12 14 27/06/2017
2500 $1.1 13 24/05/2017
500 $1 12 19/05/2017
1500 $1.1 8 01/04/2016
Register your interest
In order to buy or sell shares in Boorowa Community Financial Services Limited you must first register your interest formally with the Company Secretary.
Register your Interest Online
The online form allows you to:

Register an interest in buying shares

Register an interest in selling shares

Update an interest previously registered

Remove an interest previously registered

Online registration form
Register your Interest using hard copy forms

Alternatively, each of the online form actions can be achieved by using the hardcopy forms below.

If a registered buyer and seller agree to trade shares, the buyer must first seek approval from the Company's Board by completing the Share Purchase Form and sending it to the Company Secretary.

Once approved, the registered buyer and seller must complete the Security Transfer Form and send it to the Company Secretary.

c/- Di Brooks, RSD Chartered Accountants
Boorowa Community Financial Services Limited
PO Box 30 Bendigo VIC 3552

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Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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