Paracon Holdings says it spent R191 252.10 to buy the interests of shareholders owning fewer than 1 000 shares.
It says 415 odd-lot holders elected to sell their odd-lot holdings and 373 failed to make an election and were thus deemed to have sold their holdings.
The total number of shares bought back by Paracon is 294 234 shares at 65c each.
Eighty-five odd-lot holders bought a total of 49 968 shares to increase their odd-lot holdings to holdings of 1 000 shares. Those shares were allocated by Paracon at 62c a share.
The odd-lot offer was implemented because Paracon found that, with a large number of shareholders owning fewer than 1 000 shares, it was proving costly to comply with regulations in communicating with them through circulars, annual reports and other requirements.
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