Mirabela Nickel set to sell 745,185 unclaimed shares into marketplace

By Kali Hays

New York, June 16 – Mirabela Nickel’s bare trustee Mirabela Investments Pty. Ltd. (MIPL) has yet to receive any cash out instructions related to 745,185 remaining Mirabela shares by a June 16 deadline, according to a company news release.

As previously reported, the shares are being held by the trustee on behalf of former holders of Mirabela’s 8¾% senior notes due 2018.

If no instructions are received by the close of business on June 16, the remaining shares will be sold into the marketplace and the net proceeds will be held by the trustee until June 16, 2020. If by that date there are still remaining unclaimed proceeds, the funds will be remitted to the Department of Treasury for Western Australia, according to the release.

If Mirabela does receive any cash out instructions, the specified shares will be sold on the next cash out sale date of June 29.

Mirabela’s last cash out sale date was March 2 when it sold 108,947 company shares at an average price of $0.065 per share.

Mirabela is a nickel producer in Perth, Western Australia.

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