He will have 200 shares at R21 =R4200.00
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The LONMIN share price thread
- Thread starter snoopdoggydog
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- lonmin shares
He will have 200 shares at R21 =R4200.00
why only 200?
R4,200 - yep at a loss.
Time to get out as soon as you can to limit your losses then.
20 000/100= 200
It will not go back to this value again.
I see the past 2 hours there has been virtually no change in the share price. This may well be an indication of what is about to happen for the rest of the month. I am really thinking about taking a 1c per share loss and get out of this right now while I still can... just wondering if there are buyers to snap them up...
5:00 p.m. on17 December 2015
Last day to trade for the Consolidation……………………………………………………………………….
9:00 a.m. on
Effective time of the Consolidation ……………………………………………………………………………. 18 December 2015
5:00 p.m. on
Record date for the Consolidation …………………………………………………………………………….. 24 December 2015
9:00 a.m. on
Consolidated Shares credited to CSDP or broker accounts ………………………………………….. 28 December 2015
http://www.moneyweb.co.za/mny_sens/lonmin-plc-south-african-corporate-action-information-relating-to-the-circular-published-on-2-november-2015/
Drifter
Honorary Master
Damn, that will leave me with 34 shares. WTF??
Resolution 1
The Board is empowered to subdivide each Existing Share into one Intermediate Ordinary Share of
$0.000001 and one 2015 Deferred Share of $0.999999 and subsequently consolidate the
Intermediate Ordinary Shares on the basis of a consolidation ratio of 100: 1.
http://www.moneyweb.co.za/mny_sens/lonmin-plc-general-meeting-voting-result/
Neo_X
Expert Member
have to agree on this.
Was easier to imagine the price lifting from 21c to R1
Going from R21 to R100 is a completely different ball game ( same percentages though :/)
Yes.
The problem is, within 3 months from the consolidation, Lonmin shares could easily fall down to below the R18 levels, which I expect. The share could end up below the R1 mark again. I do not see any opportunity for growth for Lonmin.
So, if you want to avoid the risk of losing your total investment, you need to be out long before the 17th of December.
Gtx Gaming
Gtx Gaming
Bail out on 15th to be safe.
marco79
Expert Member
Is this the worse case scenario or a given fact that shares would be dissolves 100:1?
Problem is that Lonmin has died down on the JSE. The past 2 hours there were virtually no movement at all. I doubt there will be much changes for the rest of December. I do not even see this share go back to 26c this month.
You need to do some maths and decide where you will suffer more losses - by selling all right away or waiting for the consolidation to finish.
And, then, if you do decide to sell now, I highly doubt there will be buyers willing to scoop up shares at the current price. A big risk for now.
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