An introduction to Low Volume Markets
- Longevity Group Australia Ltd (LGA) is an unlisted public company and disclosing entity.
- LGA’s shares are not listed on the Australian Securities Exchange (ASX) or any licensed market or exchange.
- In order to provide shareholders with liquidity for their shares, LGA 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-2013’.
The Company advises that-
- LGA does not hold a Financial Services License and is not licensed under Part 7.2 of the Corporations Act 2001 to provide securities advice to act as a broker;
- LGA is not subject to the legal obligations that apply to the operator of a licensed market including the requirement, to the extent that this is reasonably practicable to do so, to do all things necessary to ensure that the market is fair, orderly and transparent.
- LGA 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 no more than $1,500,000 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, LGA will not approve the transaction and will 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 a transaction or find a counterparty themselves (i.e. a party that is not on the Register).
- All share transactions are to comply with LGA‘s constitution.
How to Buy or Sell Shares on the Low Volume Market
The process for trading Longevity Group Australia Ltd shares is outlined below.
- Review the Low Volume Market Introduction and Important Notices. Here
- Review the current Register of Sellers and Buyers and Recent Transactions. Here
- Register Your Interest to buy or sell Longevity Group Australia Ltd shares.
- If you are a Buyer or a Seller, you may request that Longevity Group Australia Ltd provides you with any details of any Seller or of any Buyer. To request this information contact the Company Secretary.
- Complete the transaction by completing a Standard Transfer Form and return it to the Registry.
The matching, negotiation and execution of any transaction that occurs will take place between the Buyer and Seller without any involvement from Longevity Group Australia Ltd . Settled transactions will be processed by the Longevity Group Australia Ltd share registry, Computershare Investor Services. Once the transaction has been processed by the Registry, the Company Secretary will then update the register of sellers and buyers.
The Company advises that:
- The financial market is covered by an exemption under section 791C of the Corporations Act 2001;
- The operator does not hold a Financial Services License and is not licensed under Part 7.2 of the Corporations Act 2001 to provide securities advice or to act as a broker;
- The operator is not subject to the legal obligations that apply to the operator of a licensed market, including the requirement, to the extent that this is reasonably practicable to do so, to do all things necessary to ensure that the market is a fair, orderly and transparent market.
To see the Register of Buyers and sellers on the Low Volume Market.
To Register Your Interest in Buying or Selling Longevity Group Australia Ltd shares on the Low Volume Market
Important Notes Relating to the Low Volume Market
- LGA plays no role in the negotiation and pricing of any trade under the Low Volume Market.
- Financial information lodged with ASIC (available in the Publications section of our website – Here) may assist parties in their negotiations.
- LGA does not hold a Financial Services License and as such cannot legally provide advice relating to market value
- LGA is unable to provide you with any advice in relation to the potential tax consequences of any sale as each shareholder’s circumstances are different.
- You should obtain your own taxation, financial and investment advice in relation to the consequences of any sale before entering into any transaction to sell or buy LGA shares.
- You can request that your details be amended or removed from the Register, or change your price or volume by contacting the Company Secretary by email.
Finding a Buyer or Seller Outside of the Low Volume Market
- The low volume market provides you with an opportunity to locate a buyer or seller of LGA shares.
- You may find your own buyer for your shares outside of the market or register.
Confirming that a Seller is the registered owner of Shares they are Selling-
- Each LGA shareholder is issued with a holding statement for their LGA shares.
- You may inspect the register of members at the Registry to confirm the seller is the registered holder of the shares.
- LGA takes no responsibility for, and has no liability to, any buyer who does not receive good title to any LGA shares they have paid for.