Rules of the MCFS Low Volume Market

Rules of the MCFS Low Volume Market
General Rules

All share transactions are to comply with the constitution of Mundaring Community Financial Services Ltd, a copy of which is available upon request to:

The Company Secretary
Mundaring Community Financial Services Ltd
Poynton House
10 Burgess Street
MIDLAND WA 6056
 

The MCFS Low Volume Market must comply with the terms and conditions of the Exemption Notice.  Accordingly, MCFS 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 not more than AUD$500,000 (five hundred thousand dollars), are entered into during any 12 month period.

Therefore, if the matching of the two or more registered parties would result in a transaction that would cause either the total volume or the total value of all transactions entered into in the relevant 12 month period to exceed either of those limits, MCFS will not match those parties, and may 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 or find a counter party themselves.

Registering on the MCFS Low Volume Market

Register as a seller

Registering as a buyer 

Pricing

Once particulars have been provided and exchanged between matched buyers and sellers, negotiation of the trade price takes place.  While MCFS has no role in that negotiation, financial information as lodged with ASIC (available on the Shareholder's page as the Annual Report and any subsequent financial reports released by the company to the public) may assist parties in their negotiations.

Processing a Trade

Requests from buyers and sellers will be matched on a "first -in first-out" basis.  The Company will provide a prospective buyer with the matched seller's details, including their contact information, the number of shares for sale and the seller's asking price for those shares.

Any resulting transaction between the buyer and the seller is effected between those parties without the involvement of MCFS.

Once the transaction has been completed by the seller and the buyer, a signed and otherwise completed share transfer form and the relevant share certificate must be forwarded to the Registry to:

  1. For review and approval by the Board of MCFS;
  2. Upon approval update the MCFS register of members by recording the transfer of shares from the seller to the buyer and the buyer's details as holder; and
  3. Issue and dispatch a new share certificate to the buyer.

The Company will then update the register of sellers and buyers.

Queries?  Contact us on investors@mundaringcommunitybank.com.au or 9274 6833 for further information.