CHNGHRR INV Chongherr Investments Ltd. (ASX:CDH) announces a share repurchase program. Under the program, the company will repurchase up to 1,818,523 shares, representing 1.59% at a price of 1.1 cents per share, for a total cost of AUD 0.02 million. Such shares will be repurchased from holders of unmarketable parcels of the company's shares.
ChongHerr has 218 holders who have an unmarketable parcel (holding of 45,454 shares or less, value less than AUD 500) as on August 26, 2014. The purpose of the plan is to assist shareholders with small holding to liquidate their small parcels, but who find doing so difficult and the brokerage cost prohibitively expensive. The company will pay for all such costs of sale for shareholders who use this facility.
As of September 1, 2014, the company has 114,608,952 shares in issue.
