AMP share sale facility

Funds manager and insurer AMP has launched a share sale facility so shareholders with small parcels can sell their stock without incurring brokerage or transaction costs.

The facility will be available to eligible shareholders with registered addresses in Australia, New Zealand or Britain for five weeks from October 19 to November 20.

Australian and New Zealand shareholders will be eligible if at September 11 they held 500 or less shares in AMP and British shareholders will be eligible if they held 750 shares or less.

Shareholders will receive a sale price per share equal to the volume weighted average price per share of all AMP shares sold through the facility. The volume weighted average price per share will be calculated after 5pm on the last day of the sale period.

- AAP