Special Market Condition Notices - Low Volume Market (LVM)
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 Mount Martha Community Enterprises Ltd can be prohibited from acquiring shares in the Company.
- Share transfers which result in the number of shareholders in Mount Martha Community Enterprises Ltd falling below a fixed ‘Base Number’ will be prohibited.
- These restrictions are intended to embed the community nature of Mount Martha Community Enterprises Ltd .
Directors of Mount Martha Community Enterprises Ltd 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:
Secretary
Mount Martha Community Enterprises Ltd
PO Box 288 Mount Martha VIC 3934
admin@mmcel.com.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Stamp duty payable by the purchaser on the transfer of shares in the Company is no longer applicable in any State/Territory.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.
Trade History
| Date | Parcel | Price (Per Share) |
|---|---|---|
| 08/07/2023 | 1000 | $ 0.85 |
| 03/07/2023 | 15910 | $ 1.00 |
| 30/06/2023 | 1000 | $ 1.00 |
| 30/06/2023 | 500 | $ 1.00 |
| 15/06/2023 | 500 | $ 0.85 |
| 25/01/2023 | 5000 | $ 0.80 |
| 12/01/2023 | 7500 | $ 0.80 |
| 09/12/2021 | 7500 | $ 0.80 |
| 28/11/2021 | 1000 | $ 0.80 |
| 01/05/2019 | 3000 | $ 0.85^ |
| 06/01/2015 | 1500 | $ 0.85 |
| 06/01/2015 | 2000 | $ 0.85 |
| 06/01/2015 | 500 | $ 0.85 |
| 06/01/2015 | 1000 | $ 0.85 |
| 27/08/2014 | 500 | $ 0.80 |
Register of Interested Parties
Sellers
| Parcel | Min Sale Price (Per Share) | ID | Interest Lodged |
|---|---|---|---|
| 500 | $ 1.00 | 45 | 01/03/2023 |
| 4000 | $ 1.00 | 16 | 14/06/2019 |
| 500 | $ 1.00 | 25 | 27/05/2019 |
| 5000 | $ 1.00 | 14 | 24/05/2019 |
| 1000 | $ 0.85 | 35 | 18/02/2019 |
| 1000 | $ 1.01 | 31 | 12/02/2019 |
| 10000 | $ 1.00 | 29 | 26/02/2018 |
Register your interest
Register your Interest Online
Register an interest in buying shares
Register an interest in selling shares
Update an interest previously registered
Remove an interest previously registered
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 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.
Secretary
Mount Martha Community Enterprises Ltd
PO Box 288 Mount Martha VIC 3934
admin@mmcel.com.au
