A few years ago Lynas (LYC) proposal for a ten to one consolidation was met with widespread howls of disapproval and predictions of disaster.
Shortly before the consolidation I had invested in Lynas at 6.5 cents -- the consolidated shares cost me 65 cents. They are now trading at $6.50 and I have retained all of my original purchase.
At this stage we can only speculate on what has motivated this proposed consolidation but given the commercial experience of the BDC Board it will hopefully prove to be part of a well conceived plan.
BDC Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
