It just makes it more attractive to US investors who for some reason seem more confident when they pay more. The current price in AUD of BLT shares on the US market is about 83 cents so now instead of 1 ADR costing 5X 0.83 (around $4) 1 ADR will cost 20x0.83 (around $16).
It makes no difference to us and no additional shares are issued it's just repackaging.
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- Ann: ADR RATIO CHANGED
Ann: ADR RATIO CHANGED, page-6
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Currently unlisted public company.
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STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
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