The LONMIN share price thread

T

Toothless

Banned
Joined
Oct 28, 2015
Messages
1,106
Noseworthy said:
Fnb all gone. Even after I agreed to the rights issue

EE, I had 4562 and now it's 11
Click to expand...

Something is wrong.

You should have had 45 shares and not 11. I would follow up on it if I was you.

With the consolidation, you only received 1 share for every 100 you owned. Your shares would then no longer be valued at the 20, 30, 40 or 50c you bought them at, but rather R13 per new share after the consolidation.

Everyone who invested in Lonmin prior to the consolidation took a knock on their investment. No exclusions.

That being said, does anyone know what happens to the comma-point shares, for instance, those with 4562 share who received 45 shares and lost .62. Who benefited from these? Lonmin?
 
T

Toothless

Banned
Joined
Oct 28, 2015
Messages
1,106
Noseworthy said:
I'll follow up on Monday. Lonmin is a fkup
Click to expand...

Agreed, Lonmin is a f***up! Due to their bad management, I am almost 100% sure that they will squander the money they just made via the rights offer. I do not see any future for Lonmin, whatsoever.
 
B

Bundu

Expert Member
Joined
Feb 15, 2011
Messages
3,421
Toothless said:
Something is wrong.

You should have had 45 shares and not 11. I would follow up on it if I was you.

With the consolidation, you only received 1 share for every 100 you owned. Your shares would then no longer be valued at the 20, 30, 40 or 50c you bought them at, but rather R13 per new share after the consolidation.

Everyone who invested in Lonmin prior to the consolidation took a knock on their investment. No exclusions.

That being said, does anyone know what happens to the comma-point shares, for instance, those with 4562 share who received 45 shares and lost .62. Who benefited from these? Lonmin?
Click to expand...

AFAIK LON will sell them and pay over those couple of cents to their owners, which at this stage will be less than R13, so will probably be a waste of their time and effort
 
TofuMofu

TofuMofu

Honorary Master
Joined
Aug 11, 2008
Messages
11,267
I'm going to keep my shares. If it sinks, it sinks, if I make a few bucks later, awesome.

I already wrote off the R2500 >.<
 
You must log in or register to reply here.
Top