On 22 February IAG announced a small shareholding sale facility (Sale Facility) for shareholders who held a small parcel of IAG ordinary shares (Shares) as at 5pm (Sydney time) on the Record Date of 17 February 2017 and who meet certain other requirements. The Sale Facility allowed eligible shareholders to sell their Shares without incurring any brokerage costs. A small parcel of Shares was 84 Shares (being a parcel valued at less than $500 based on the Record Date closing Share price). The sale facility closed at 5pm Sydney time on 7 April 2017.
The facility led to the sale of 281,438 shares and participating shareholders will receive $6.1063 per share. Sale proceeds will be rounded down to the nearest cent and will be paid on 26 April 2017.