You can sell any or all of your shares at any time.
However, should you sell all of your shares and not give Westpac notice of termination of your participation in the DRP, your participation will cease with effect from either:
- The date on which the last transfer is registered by Westpac, or
- If the last transfer is registered in the period from (but excluding) the business day following a Record Date to (and including) the related Dividend Payment Date, the date following that Dividend Payment Date.
This deemed termination of your participation will occur even if you repurchase shares at a later date under the same holding.
If you elect for ‘full participation’ and then sell some of your shares, the dividends on your remaining shares will continue to be reinvested under the DRP. If you elect for ‘partial participation’ and then sell some of your shares, the number of shares sold will be deemed to the full extent possible to be non-participating shares and the balance, if any, will be deemed to be participating shares under the DRP.