AMP wants fewer shareholders
19/10/2009
Shareholders with fewer than 500 shares in AMP may sell them back to the company without incurring any brokerage fees.
AMP will pay a price based on the average of recent share trading, which is a little less than $7 per share at present (and twice the 2009 low).
The AMP offer is more about cutting costs of administering a large share register 11 years after the company demutualised and listed on the stock exchange than about finding a way to invest surplus capital.
Source: Herald Sun
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