NZ approves A2 call

A2 Corporation has been granted permission to set a minimum shareholder limit of 2000 shares.

A2 had applied to the NZX requesting approval of a minimum shareholding level as maintenance of a large share register was proving costly.

At yesterday's share price of 8c, investors would need a minimum of $160 to remain shareholders.

A2 said the decision affected about 186 shareholders, or less than 0.1 per cent of the company's issued shares.

The ruling will take effect from March 15.