Buyers
Information for BUYERS of MCFS shares
An interested buyer may obtain a form to give the Company Secretary written notice of their interest to buy MCFS shares together with the number of shares they wish to purchase and an offered price for those shares. The form will also request that those particulars and their personal contact details be entered into the register of buyers.
Frequently Asked Questions (for buyers)
Q: How do I register my interest in purchasing MCFS shares?
A: You can register your interest to buy MCFS shares by completing a Notice of Intention to Buy with your contact details and the number of shares that you wish to buy and the indicative price for those shares, and forwarding that notice to:
The Company Secretary
Mundaring Community Financial Services Ltd
PO Box 3443
MIDLAND WA 6056
Facsimile: +61 8 9274 6855
Please ensure that you read the acknowledgements in that notice and sign it. Your details will then be entered into the register of buyers.
Q: Who can be listed as an interested buyer on the MCFS register of buyers?
A: Any legal entity (individuals, companies, etc) can be listed as an interested buyer on the MCFS register of buyers.
Q: Is there a limit as to how many shares I can buy from a registered seller through the low volume market?
A: Generally speaking, there is no limit to how many shares you can buy through the MCFS Low Volume Market. However, it is a condition of ASIC's approval of the MCFS low volume market that the aggregate sale price of transactions that occur through the market during any 12 month period does not exceed AUD$500,000 (five hundred thousand dollars).
Q: What happens if the number or volume of transactions may exceed the threshold?
A; MCFS continually monitors the number and value of transactions through the market and will not register new sellers or provide details of registered sellers to buyers if more than 100 transactions or transactions with an aggregate value exceeding $500,000 may occur through the market in any 12 month period. MCFS will not permit any such transaction to occur and may suspend the market until the limits are refreshed. In either case, you may either wait for the next 12 month period to commence or, alternatively, find another seller outside of the low volume market.
Q: Can MCFS assist me with the negotiation and execution of the share trade through the low volume market?
A: No, the Company Secretary will endeavour to match your registered interest to buy with registered sellers on a 'first in, first out' basis. If you are matched with one or more registered sellers, you will be provided with details of that seller, including the number of shares for sale and asking price, together with contact information for matched seller. It is up to the buyer to contact the seller to negotiate the share purchase. It is then your responsibility to negotiate and complete any resulting transaction with the seller. MCFS will have no further involvement.
Q: What price should I pay for MCFS shares?
A: The price you pay for MCFS shares will depend on your particular circumstances. The price will be negotiated between you and the seller. MCFS cannot provide you with any assistance to determine or negotiate that price.
Q: What information can I get to assist me to determine the price of MCFS shares?
A: MCFS is required to lodge financial information, such as Half-yearly and Annual Financial Reports, with ASIC and the information in these reports may assist you to determine the appropriate price for your shares. MCFS's latest Annual Report is available here.
Q: Can MCFS provide information on previous share sales?
A: MCFS maintains a Register of Buyers and Sellers where information is available regarding sale dates and prices achieved through the Low Volume Market. A copy of the list is located on the 'Trading in Company Shares' page
Q: Where can I obtain a copy of the MCFS Constitution?
A: All shareholders must comply with MCFS constitution, a copy of which is available on request to:
The Company Secretary
Mundaring Community Financial Services Ltd
PO Box 3443
MIDLAND WA 6056
Facsimile: +61 8 9274 6855
Q: How can I be sure that the seller is the true owner of shares they are selling?
A: Each MCFS shareholder is issued with a share certificate for their MCFS shares. That share certificate is a document of title of those shares. You may also inspect the register of members for MCFS at its share registry (see below) to confirm the seller is the registered holder of the shares. When you are executing a transaction with a seller, you will need to obtain the seller's original share certificate as evidence its ownership of the shares that you are purchasing. MCFS takes no responsibility for and has no liability to any buyer who does not receive good title to any MCFS shares they have paid for. Once you have negotiated a transaction, you and the seller must complete and sign a share transfer form which must be sent together with the original share certificate to the share registry:
Ms Allison I'Dell Mundaring Community Financial Services Ltd
PO Box 3443 MIDLAND WA 6056
Once the Board has approved the transaction and the registry has processed the trade, the MCFS register of members will be updated and you will be issued with a new share certificate in your name.
Q: Who is responsible for preparing the share transfer documents?
A: You and the seller are responsible for preparing the share transfer documents. You can access a template share transfer form together with guidance notes on how to complete it here.
Q: Is stamp duty payable on any share sale?
A: No. Transfers of shares in companies that are registered in Western Australia are not currently subject to stamp duty. As MCFS is registered in Western Australia, there will not be any stamp duty on any MCFS shares sold.
Q: Who will my details be provided to and what is done to protect my personal details?
A; Your personal contact and other details will be kept on the register of buyers and will not be provided to registered sellers. When you are matched with a registered seller, MCFS will provide you with the seller's personal contact and other information and it will then be up to you to contact the registered seller to negotiate and execute the transaction. By registering on the register of buyers, you agree to only use the seller's contact details and information for the sole purpose of negotiating and executing the purchase of MCFS shares. The personal information that MCFS collects from you and holds on the register of buyers will be dealt with in accordance with its Privacy Policy.
Q: What happens if a purchase of shares doesn't proceed through the low volume market?
A; If, after being matched with a registered seller, a purchase of shares does not proceed, you can request that your details be relisted on the register of buyers by completing and forwarding a new Notice of Intention to buy to the Company Secretary