Buying or Selling UYCE Shares
Introduction
Both the Warburton and Yarra Junction Community Bank Branches are operated by the Upper Yarra Community Enterprise Limited (UYCE).
Becoming a shareholder of the UYCE is a significant way to support the operations of the local Community Banks under their charter, and contribute to the community investment program, which provides valuable support to local initiatives across a range of services and activities.
“Becoming a shareholder and investing in UYCE enriches the lives and economic prosperity of people in the local community.”
How it works
UYCE operates a Special Market called a Low Volume Market (LVM), to facilitate the trading of its shares, introducing potential shareholders to this market. Trading arrangements are made directly with the Special Market.
This ASIC-approved LVM is essentially a list of buyers and sellers who have registered their interest in trading shares. It is the responsibility of buyers to contact sellers and or vice versa, UYCE does not become involved in the share trading transactions but is able to assist with the process if necessary.
Special characteristics of the LVM
- ‘One shareholder one vote’ constitutions rather than ‘one share one vote’.
- Shareholder limit of 10% of issued capital for individuals and related entities.
- There is a limit on profits that can be distributed to shareholders, including through dividends. By way of overview, the limit is the higher of:
- 20% of the profits of the Company otherwise available for distribution to shareholders in the financial year (after adding back Community Contributions during the year), and
- the weighted average interest rate on 90 day bank bills during the year plus 5%, multiplied by the value of the share capital on issue at the end of the financial year.
- Persons who do not possess a ‘close connection’ with the community served by Upper Yarra Community Enterprise Ltd can be prohibited from acquiring shares in the Company.
- Share transfers which result in the number of shareholders in Upper Yarra Community Enterprise Ltd falling below a fixed ‘Base Number’ will be prohibited.
- These restrictions are intended to embed the community nature of Upper Yarra Community Enterprise Ltd .
Important Information
You can find out more here about trading conditions, including Recent Share Trade History, the Register of Interested Parties (buyers and sellers).
Annual Reports for UYCE are provided below. These are published in October each year, with the Annual General Meeting typically in November.
Want to Register your Interest?
There is an online registration form available here and downloadable links should you prefer to submit your application in hard copy.
*Please take the time to read the Special Market Conditions Notices and the Special Characteristics of Community Bank Companies.
Current Notifications
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14 April 2022 – SHAREHOLDER ALERT
The UYCE Shareholder Mid-Year Update 2022 will see us return to an ‘in person’ meeting.
We hope you can join us!
WEDNESDAY 27 APRIL 2022
START TIME 7PM
VENUE – WARBURTON MILLGROVE SPORTS CLUB (Warburton)
RSVP – admin@upperyarra.net.au
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09 December 2021 – SHAREHOLDER ANNOUNCEMENT
MINUTES of the Annual General Meeting held 17 November 2021 for Upper Yarra Community Enterprise Ltd have been accepted and adopted by the UYCE Ltd Board as a true record of the meeting and are now available.
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22 October 2021 – Notice of Annual General Meeting
The Upper Yarra Community Enterprise Ltd Board advise that the 2021 Annual General Meeting will be held at 7.00pm on Wednesday 17 November 2021 ONLINE.
Registering your intention to attend online is required.
Register via email request to: chair@upperyarra.net.au
To view the Letter click here
To view the Notice including Agenda click here
To view and download a Proxy form click here
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O1 October 2021 – Annual Report Announcement
The Upper Yarra Community Enterprise Ltd Board announce that the 2021 Annual Report is now available online. Click here to download.
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10 September 2021 – Dividend Announcement
The Upper Yarra Community Enterprise Ltd Board announce that:
The dividend for the 2020/2021 period be 3.3 cents per share fully franked and that the following key dates are endorsed for payment of the dividend.
- Ex-Dividend date Friday 24 September 2021
- Record Date Friday 1 October 2021
- Payment Date Friday 29 October 2021
This dividend will be payable by EFT to all current Shareholders.
The Company’s financial performance will be detailed in the 2021 Annual Report due out and available in coming months.
Rodney McKail
Chair, Upper Yarra Community Enterprise Ltd
– End of announcement –
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28 June 2021
SHAREHOLDER ALERT
The UYCE Shareholder Mid-Year Update 2021 is out now and available on our website.
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09 December 2020
Shareholder Announcement
MINUTES of the Annual General Meeting held 18 November 2020
for Upper Yarra Community Enterprise Ltd have been accepted and adopted by the UYCE Ltd Board as a true record of the meeting and are now available to view on our website. Please click here to view.
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21 October 2020
NOTICE of Annual General Meeting
for Upper Yarra Community Enterprise Ltd
To be held at 7.00pm on Wednesday 18 November 2020 ONLINE
Due to COVID-19 Restrictions this Annual General Meeting
will be held as a virtual meeting
Registering your intention to attend online is required.
Register via email request to: chair@upperyarra.net.au or phone 0437 373 752
You will be provided with a link and passcode to the ONLINE AGM
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9 September 2020 – Dividend Announcement
The Upper Yarra Community Enterprise Ltd Board announce a dividend of 3.3 cents per share fully franked payable on 30 October 2020.
This will be payable by EFT to all current Shareholders.
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May 2020
Shareholder’s Information Bulletin
Past Notifications can be accessed here.
Changing Shareholder Details
The Share Register of Upper Yarra Community Enterprise is professionally managed by AFS Bendigo Pty Ltd. Any changes to Shareholder Details must be communicated to AFS.
Please note: changing your details with Bendigo Bank does not change your details on our share register, they must be notified separately.
All necessary documentation to modify your information can be downloaded from the AFS website
For personalised assistance please contact the Company Secretary on (03) 5966 9028 or email admin@upperyarra.net.au
OTHER INFORMATION
Click tab to access required information.