Friday, January 22, 2010

Sirius Resources: Unmarketable Parcels

Sirius Resources (SIR.AX) is going to automatically sell out all shareholders with less than $A500 worth of shares free of brokerage and send the proceeds to the shareholders. They have 11,000 such shareholders including me. You can opt out by sending in a form. My shares are stuck in a Computershare registry account. When they were delisted from the ASX they were removed from my CommSec account. The fee to sell the shares through ETrade using a "Visitor Trade" is $49.50. But this is more than the shares are worth. Fee to send a new holding statement in order to transfer the shares to CommSec is $33.30 which is also more than they are worth. So I haven't sold them.

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