It's still a safe investment, the posters were disgruntled for a simple reason.
The company went into a halt for the EGM and AGM regarding the transaction, then they decided to wait almost a month to actually do the EGM at which they said "Sorry we aren't going to do the share consolidation at the 22:1 figure anymore, instead we are going to do it at 44:1."
Causing those who had purchased shares at a value above 0.5c to lose value instantly.
They are unhappy because they received no warning, no chance to sell the share, it was a massive discount to the value of the shares that they had been trading at previously.
Disclaimer:
I own 3.5mil shares (now 80k) at an average of 0.7c. If the consolidation occured at the level which we were told, which they said it was going to occur, I would have been in the green by a few cents.
Instead the share price needs to get from the 20c re-listing to 28.8c before I even break even..
My options are even worse off.
The investment is good, but the people burnt by the last minute chance without a chance to get out at that level are unhappy.
- Forums
- IPOs
- Australian Travel Group Backdoor Listing
Australian Travel Group Backdoor Listing, page-13
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
BOE
Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan
DVP
Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place
NEWS
Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo
NEWS
Is oil undervalued?