The LONMIN share price thread

[Thor]

Off the topic slightly, what happens to dividend yields in EE, do they become available cash or are they reinvested into the share?

Credit in your account so you can either take it or invest it

 

[Gtx Gaming]

less than 30 min to go!

who is going to f5 the live price for us today?

 

[Jakes147]

Just read back a few pages, there are article references. But, it is not as easy as 'it will be R21'.

There will be a consolidation. They will convert every 100 of your shares into 1 single share and that share will be worth R21. So, if you had 1000 shares, you will now only have 10 shares, each valued at R21.

So, everyone who bought at more than 22c a share, will suffer a loss when the process finalizes on the 17th.

Only thing I am wondering about now is that Lonmin shares hit the 21c mark and I expect it to fall below the 18c mark by the end of this week. In fact, I will not be surprised if the shares will hit the 10c or below mark. Will the new share price after the consolidation still be R21 per share? Or, will that amount decrease as well? Thus, can they change the offer they made of 21c per share (which is converted to R21 after the 100:1 consolidation) in their rights offer?

The R21 was used as an example based on the current share price. If the share price is 10c at the the time of consolidation then the new share would be worth R10.

 

[Thor]

The R21 was used as an example based on the current share price. If the share price is 10c at the the time of consolidation then the new share would be worth R10.

Doubt it, becuase then they will fck over all those loyal share holders who took up the rights issue.

The purpose of the consolidation is probably because they do not want the company to look like penny stocks

 

[DrewChan]

Thor how much do you still have sitting in Lonmin?

 

[Thor]

Thor how much do you still have sitting in Lonmin?

20 thousand shares....

I am sweating like Taiwan whore

 

[Drifter]

And then the consolidated shares drop to 21c...

 

[DrewChan]

20 thousand shares....

I am sweating like Taiwan whore

Its so difficult, that 0.0000001% chance that it suddenly increases to R10 a share without consolidation

 

[Pegasus]

Why are you guys buying lonmin shares when you don"t understand basic corporate events?

A share split or consolidation doesn't change the market cap of a company, and the value of your shares will stay exactly the same.

And why would you buy lonmin shares before the rights issue knowing that you will lose 94% of your money?

 

[Toothless]

The R21 was used as an example based on the current share price. If the share price is 10c at the the time of consolidation then the new share would be worth R10.

No! In the rights offer they offered new shares at 21c per share, which, at the time, was a lot lower than the share price back then. They never suspected that the current share price would come down to that mark as well.

This is also how the rights offer and consolidation is calculated - 100:1 @ R21 per share.

So, the current share price equals the rights offer and there is no incentive for those investors who took up their rights.

 

[owl]

first trade at 22c

 

[Toothless]

Why are you guys buying lonmin shares when you don"t understand basic corporate events?

A share split or consolidation doesn't change the market cap of a company, and the value of your shares will stay exactly the same.

And why would you buy lonmin shares before the rights issue knowing that you will lose 94% of your money?

The majority of people in this thread, or in the Lonmin sage, took a gamble on the volatility of the fluctuating share price. The person who thought they were investing definitely is crazy. Most wanted to make a quick buck and get out as soon as possible.

 

[Thor]

Why are you guys buying lonmin shares when you don"t understand basic corporate events?

A share split or consolidation doesn't change the market cap of a company, and the value of your shares will stay exactly the same.

And why would you buy lonmin shares before the rights issue knowing that you will lose 94% of your money?

Becuase I bought at 26 cents sold at R1.1 made a lekker bonus and then bought again at 20 and 21 cents so I am inline with the rights offer.

Also, I bought this cause I have money to waste, so I took a gamble. Much more fun than driving to the casino

 

[Thor]

Interesting day ahead

 

[shooter69]

Also, I bought this cause I have money to waste, so I took a gamble. Much more fun than driving to the casino

Same reason. And also trying my luck at making a quick buck. It's not money that will change my lifestyle that I used for the gamble.

 

[techead]

Same reason. And also trying my luck at making a quick buck. It's not money that will change my lifestyle that I used for the gamble.

same reason. I would have pissed it away anyhow.

I did also buy some "responsible" shares

 

[Toothless]

Interesting day ahead

Don't know why, but I do not really share the same sentiment.

I think we can pretty much expect the same as yesterday. Share price could fluctuated between 22/23/24c and 21/20c. But, I suspect it may close at the 20c/19c mark this afternoon. It will be a very slow day with not a lot of movement.

 

[Thor]

Don't know why, but I do not really share the same sentiment.

I think we can pretty much expect the same as yesterday. Share price could fluctuated between 22/23/24c and 21/20c. But, I suspect it may close at the 20c/19c mark this afternoon. It will be a very slow day with not a lot of movement.

I think it might go lower... The JSE is off to a bad start overall

 

[Toothless]

I think it might go lower... The JSE is off to a bad start overall

Not really sure about that, but definitely not impossible.

By the way, did not read all posts, did Wilma ever reply?

 

[Shi]

A million shares traded today already between 21 and 23c