BSG shareholders received 0.682 CDE shares or Chess Depositary Receipts which trade here as CXC for one BSG share plus a "nominal" amount of cash of just $0.004 cents per Bolnisi share.
CDE has been smashed again since we traded on Thursday - down from Wednesday's close of US$3.59 to US$3.32. And yes, CDE also fell on Friday when 17 of the 20 HUI stocks rose. (At close CDE was the worst performer of the 20 HUI stocks on Friday.)
At US$3.32 CDE is just 34 cents above its 52 weeks low. US$3.32 is equivalent to AUD3.555 at an exchange rate of 0.9338. Now $3.555 x 0.682 equals $2.42 a BSG share.
As CXC closed at $3.87 here on Thursday, it probably doesn't look too flash for Monday.
CXC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
