Blis Technologies has tidied up its shareholder register, buying 9.67 million shares from small portfolio holders for about $110,000 in the past two months.
With Blis shares trading at just a few cents, yesterday at 1.3c, it was becoming administratively too expensive to maintain holdings below 25,000, the company said when signalling the purchasing arrangement.
If shareholders had not topped up to above 25,000, the shares in question were sold between March 21 and May 21. After deduction of transaction fees, the sale netted $103,984.10c or 1.07c per share, which will be sent to shareholders by the end of the week.
Blis this week booked a bigger than expected loss for the full year. It posted a $1.85 million loss, while at the same time signalling a revised business strategy and intention to raise $1 million from shareholders.
