Some of you chaps need to settle, there's some crazy shit being posted.
I will lay out my understanding of what is to happen. Please correct any stuff ups I've made here.
- If you hold SYA shares only two things will happen to your shares.
=> The number of shares you hold will be divided by 150 - same pizza just cut into fewer pieces - no mathematical impact on the value of your
holding.
=> The ticker code will change from SYA to ELV
Note that the second announcement today Sayona provides an example of how the consolidation will work. Note that the value of the holding does not
change - that is the maths of it, though I think others might be talking on this thread about the psychology of consolidation.
For current SYA holders, that is it, no need to read any further! 2. For those that participated in the equity raise in November assuming that raise is approved at the upcoming general meeting of Sayona shareholders
they will end up with 8.33 million post-consolidation SYA shares (or after the company name change, about 8.33m ELV shares)
3. If you hold PLL shares on the ASX two things will happen to your shares.
=> Your PLL shares will be converted into post-consolidation SYA shares with you getting 3.5133 SYA shares for every PLL share you hold.
=> Your ticker code will change from PLL to SYA to ELV.
4. If you intend to want to hold your investment in American Depository Shares on the Nasdaq exchange
=> Each 10 SYA shares you hold will be bundled together to form a single American Depository Share (Americans avoid stock that trades in cents or
in low dollars plus the effect of the exchange rates).
=> the ticker code for the American Depository Shares being traded on the Nasdaq will be ELVR.
Regarding the other ASX announcement released today, good to see a number of regulatory hurdles have been passed. As flagged by Keefy Philips a while back, the big regulatory hurdle will be getting approval of the US Securities & Exchange Commission for the document to be sent out to Piedmont shareholders leading up to their meeting to accept or refuse the deal. Sayona is still talking about the Sayona meeting to be in the first half of this year so it looks like the deal is set to be done maybe in July.
(20min delay)