Ovanti to Sell Small Shareholdings in Register Clean-Up

IOUpay Limited ( (AU:OVT) ) has shared an announcement.

Ovanti Limited will conduct a minimum holding sale to reduce administrative costs from maintaining a large number of small shareholdings and to give investors holding less than a marketable parcel an option to realise value at no cost. Under its constitution and ASX rules, all sub‑$500 holdings will be eligible to be compulsorily sold at $0.0134 per share to Mavi Holdings unless shareholders lodge an exemption request by 29 May 2026, with proceeds remitted within 14 days of completion and no takeover offer currently on foot.

The board has accepted a binding offer from Mavi Holdings to purchase all sub‑marketable parcels, and affected minority holders will be formally notified of the planned sale and their rights. The move simplifies Ovanti’s share register while potentially improving liquidity, although small investors who do not actively opt out will see their stakes sold, leaving any tax consequences to individual shareholders and with the process subject to lapse if a takeover bid is announced before sale agreements are finalised.

More about IOUpay Limited

Ovanti Limited (ASX: OVT) is an Australia-based listed company, though the announcement does not specify its industry or core products and services. The group is focused on managing its shareholder base efficiently and is listed on the Australian Securities Exchange with fully paid ordinary shares as its main class of securities.

Average Trading Volume: 6,425,886

Technical Sentiment Signal: Sell

Current Market Cap: A$8.59M

For a thorough assessment of OVT stock, go to TipRanks’ Stock Analysis page.