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Trading Shares in Mallacoota Community Enterprises Limited

Mallacoota Community Bank® Branch is operated by Mallacoota Community Enterprises Limited. Mallacoota Community Enterprises 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)

Mallacoota Community Enterprises 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. Mallacoota Community Enterprises 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 Mallacoota Community Enterprises 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 Mallacoota Community Enterprises Limited can be prohibited from acquiring shares in the Company.
  • Share transfers which result in the number of shareholders in Mallacoota Community Enterprises Limited falling below a fixed ‘Base Number’ will be prohibited.
  • These restrictions are intended to embed the community nature of Mallacoota Community Enterprises Limited.

Directors of Mallacoota Community Enterprises 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:

Peter Giddings
Mallacoota Community Enterprises Limited
PO Box 500 Mallacoota VIC 3892
petergiddings@gmail.com

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 Mallacoota Community Enterprises Limited
Date Parcel Price (Per Share)
03/01/2013 1000 $0.9
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
500 $1 19 26/09/2014
Sellers
Parcel Min Sale Price (Per Share) ID Interest Lodged
10000 $0.5 23 03/03/2018
500 $0.5 24 03/03/2018
2000 $1 22 02/12/2016
2000 $1 21 15/09/2015
2000 $0.9 20 14/08/2015
9200 $0.75 12 11/02/2013
9200 $0.75 13 11/02/2013
5000 $1 10 01/06/2012
4000 $1 9 24/05/2012
10000 $1 8 11/04/2012
15000 $1 7 20/03/2012
1000 $1.05 6 23/02/2012
1000 $2 5 16/02/2012
10000 $1 2 19/12/2011
7000 $1 1 19/12/2011
1000 $0.95 3 19/12/2011
10000 $1 4 19/12/2011
Register your interest
In order to buy or sell shares in Mallacoota Community Enterprises 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.

Peter Giddings
Mallacoota Community Enterprises Limited
PO Box 500 Mallacoota VIC 3892

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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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