Low Volume Market Introduction
McCracken Properties is an unlisted public company and disclosing entity. McCracken Properties’ shares are not listed on any licensed market or exchange, including the Australian Securities Exchange (ASX). In order to provide shareholders with some liquidity for their shares, McCracken Properties has received approval from the Australian Securities and Investments Commission (ASIC) to operate a low volume financial market under an exemption provided by section 791C of the Corporations Act 2001 and in accordance with the Corporations-low-volume-financial-markets-exemption-notice-2003. It is important to note the following:
- McCracken Properties is not licensed under Part 7.2 of the Act
- McCracken Properties is not subject to the legal obligations that apply to the operator of a licensed market, including the requirement, to the extent that it is reasonably practicable to do so, to do all things necessary to ensure that the market is a fair, orderly and transparent market
General Rules
McCracken Properties will record the aggregate total volume and value of transactions conducted on the market to ensure that no more than 100 (one hundred) completed transactions with a total value (measured by sale price) of not more than $500,000 (five hundred thousand dollars), are entered into during any 12 month period. Therefore, if a transaction would cause either the total volume or value of all transactions entered into in any 12-month period to exceed either of those limits, McCracken Properties may not approve the transaction or suspend the market to the start of the subsequent 12 month period. In such a case interested Sellers and Buyers would have the option of either waiting for the next 12 month period to commence or find a counter party themselves (i.e. a party that is not on the Register).
All share transactions are to comply with McCracken Properties’ constitution.
Andrew Bullock
McCracken Properties
PO Box 3034
Norwood, SA 5067
Email: andrew@1834hotels.com.au
The matching, negotiation and execution of any transaction that occurs will take place between the Buyer and Seller without any involvement from McCracken Properties. Settled transactions will be processed by McCracken Properties’ share registry, MC Chartered Accountants (Registry). Once the transaction has been processed by the Registry, the register of sellers and buyers will be updated accordingly.
Click here to learn about how to trade McCracken Properties shares on the Low Volume Market
Click here to see the Register of Buyers and Sellers on the Low Volume Market