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Melbourne, Sep 11, 2009 (ABN Newswire) - Citadel Resource Group Limited (ASX:CGG) has initiated a share sale facility designed to allow shareholders with less than 1250 shares to sell their shares cost effectively and simply to assist the Company in reducing in reducing administration costs. The Company will bear all brokerage and handling fees related to the sale of shares under this facility.
The Company appreciates the support offered by all shareholders and as such each shareholder has the opportunity to nominate whether they would like to retain their shareholding.
This is one of many cost reduction initiatives currently underway. This year along with the Notice of Annual General Meeting, shareholders will be sent documentation to nominate to receive communications from the Company electronically.
Unmarketable Parcels Sale Facility
Consistent with the Company's constitution, and recognising that the cost to shareholders of selling very small holdings can be prohibitive, shareholders with an unmarketable parcel of shares (equivalent in value to or below A$500) will shortly receive a letter in the form attached. This letter explains that, unless they advise the Company otherwise, their shares will be sold on market and the proceeds remitted to them at zero cost to them. Shareholders who wish to retain their unmarketable parcels of shares must return the form enclosed with the letter otherwise their shares will be sold.
The Company appreciates the support offered by all shareholders and as such each shareholder has the opportunity to nominate whether they would like to retain their shareholding.
This is one of many cost reduction initiatives currently underway. This year along with the Notice of Annual General Meeting, shareholders will be sent documentation to nominate to receive communications from the Company electronically.
Unmarketable Parcels Sale Facility
Consistent with the Company's constitution, and recognising that the cost to shareholders of selling very small holdings can be prohibitive, shareholders with an unmarketable parcel of shares (equivalent in value to or below A$500) will shortly receive a letter in the form attached. This letter explains that, unless they advise the Company otherwise, their shares will be sold on market and the proceeds remitted to them at zero cost to them. Shareholders who wish to retain their unmarketable parcels of shares must return the form enclosed with the letter otherwise their shares will be sold.
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About Citadel Resource Group Limited
Citadel is a minerals exploration and development company, focused on gold and base metals in the Arabian Shield. Our vision is to build a strong, diversified mining company with profitable operations and a sustainable pipeline of development projects.
With a portfolio of high quality advanced projects and a capable team, we are targeting near-term production of copper and gold from the Jabal Sayid Copper Project (50% JV), and the Lahuf and Jabal Shayban gold projects.
The Arabian Shield is a highly prospective minerals province, and Citadel has secured quality exploration licenses in mineral rich area's with strong potential for delineation of nickel, gold/silver and zinc mineralization.
Citadel is listed on the Australian Stock Exchange (ASX:CGG), and has its exploration office in Jeddah, and its operations and project development office in Perth.
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