Yes, as I see it, the shareholdings we have now will be divided by 5.715, and that is what we will have on re-listing on 3rd June.
The main aspect to keep in mind is that the new company will be a completely new company, with new assets imported from digitalBTC, new directors, and new money via the cap raising. As such, it is virtually a new IPO, and will be the first of its type on the ASX, or anywhere in the world as far as I know. I have found a number of bitcoin-associated companies listed in the US, but not pure bitcoin companies.
So what we are really looking at buying on market today, - is new shares in a world-first IPO that breaks totally new ground.
Another interesting aspect that may not be well appreciated, is that MEJ will cease trading on 9th May. Gone, finished, never to reappear. There will then be a lead-up period to the ASX listing of Digital CC (code unknown) on 3rd June.
During that three week period, if bitcoin receives favourable attention, there will be no way for non-shareholders to buy an interest in Digital CC. Bitcoin has jumped 60% in the last week, so its not going away. Chairman Zenyha Tsvetnenko has proven marketing ability, so there could be much pent-up demand by the time Digital CC is listed on 3rd June.
There are many risks outlined in the Meeting Notice, and the above analysis is my opinion only. But I have seldom seen such a high risk/reward opportunity since the last mining boom.
Given the Australian media's penchant for criticising what they don't understand, I don't expect any help from them. But Fortescue went from nothing to $16Bn cap, in ten years, despite their concerted efforts to derail it.
MEJ Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
