2016 SHARE SALE FACILITIES 

The Star Entertainment Group announced on 5 April 2016 share sale facilities that provided eligible small shareholders the opportunity to sell their shares without incurring any brokerage or handling costs.

Participation in the separate share sale facilities were open to eligible shareholders whose registered address was in Australia or New Zealand as at 7.00pm (Sydney time) on 29 March 2016 (Record Date) and who were:  

  1. registered holders of less than a marketable parcel of shares (i.e. less than $500 worth of shares on the Record Date) (Small Holding Sale Facility); or
  2. registered holders of 5,000 or less shares (but held at least $500 worth of shares) on the Record Date (Voluntary Share Sale Facility).

On 5 April 2016, eligible shareholders were sent a letter together with a Share Retention Form (for the Small Holding Sale Facility) or a Sale Instruction Form (for the Voluntary Share Sale Facility), and Terms and Conditions for the relevant share sale facility.

Both share sale facilities closed at 5:00pm (Sydney time) on 17 May 2016 (Closing Date). 

All participants who had their SGR shares sold under either the Small Holding Sale Facility or the Voluntary Share Sale Facility received the same average price of $5.51 per share, which was calculated by dividing the total proceeds from the sale of all SGR shares sold under the facilities by the total number of SGR shares sold under the facilities. 

Payment of the sale proceeds were made to participating shareholders on 27 May 2016 in accordance with their payment instructions as recorded on the share register. 

Small Holding Sale Facility

The Small Holding Sale Facility was conducted in accordance with The Star Entertainment Group’s Constitution and the Australian Securities Exchange Listing Rules that enables all listed companies to sell shareholdings valued at less than $500 (Unmarketable Parcel). 

Based on a share price of $5.68, being the closing price of The Star Entertainment Group (SGR) shares on the Australian Securities Exchange on the Record Date, an Unmarketable Parcel was any holding of 88 shares or less.

Eligible shareholders who wished to retain their Unmarketable Parcel were required to return a Share Retention Form to the share registry by the Closing Date.               

Small Holding Facility Key Dates: 

  • 29 March 2016 (7pm) - Record Date
  • 5 April 2016 - Facility Opened 
  • 17 May 2016 (5pm) - Facility Closed
  • 27 May 2016 - Payment of sale proceeds and mailing of payment advices

Voluntary Share Sale Facility

The Voluntary Share Sale Facility was conducted in accordance with Class Order CO 08/10 issued by the Australian Securities and Investment Commission.

Eligible shareholders who wished to sell their shares under the Voluntary Share Sale Facility were required to return a Sale Instruction Form by the Closing Date.  

Voluntary Holding Facility Key Dates: 

  • 29 March 2016 (7pm) - Record Date
  • 5 April 2016 - Facility Opened
  • 17 May 2016 (5pm) - Facility Closed
  • 27 May 2016 - Payment of sale proceeds and mailing of payment advices

For full details of the Small Holding Sale Facility and the Voluntary Share Sale Facility, please see the ASX Announcement dated 5 April 2016 in the News section of our website.