Trading Shares in Lancefield & Romsey Community Financial Services Limited
Community Bank Romsey
is operated by Lancefield & Romsey Community Financial Services Limited
. Lancefield & Romsey 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)
Lancefield & Romsey 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. Lancefield & Romsey 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.
Shares in Lancefield & Romsey 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:
20% of the profits of the Company otherwise available for distribution to shareholders in the financial year (after adding back Community Contributions during the year), and
the weighted average interest rate on 90 day bank bills during the year plus 5%, multiplied by the value of the share capital on issue at the end of the financial year.
Persons who do not possess a ‘close connection’ with the community served by Lancefield & Romsey Community Financial Services Limited
can be prohibited from acquiring shares in the Company.
Share transfers which result in the number of shareholders in Lancefield & Romsey Community Financial Services Limited
falling below a fixed ‘Base Number’ will be prohibited.
These restrictions are intended to embed the community nature of Lancefield & Romsey Community Financial Services Limited
Directors of Lancefield & Romsey 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 and/or LVM Contact:
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 payable by the purchaser on the transfer of shares in the Company is no longer applicable in any State/Territory. It would however be prudent for the purchaser to confirm the current situation with the State or Territory Revenue Office where the Company was incorporated.
Most recent share trades for Lancefield & Romsey Community Financial Services Limited
Price (Per Share)
^ 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
Max Purchase Price (Per Share)
Min Sale Price (Per Share)
Register your interest
In order to buy or sell shares in Lancefield & Romsey Community Financial Services Limited
you must first register your interest formally with the Company Secretary and/or LVM Contact.
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 and/or LVM Contact.
Once approved, the registered buyer and seller must complete the Security Transfer Form, and send (or scan and email) it to the Company Secretary and/or LVM Contact.
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