i am not the only that mentions the word penny dreadful lol
Honey – we shrunk the share base
Commandment Three: when one’s share price plummeteth, one should seeketh to consolidate one’s shares.
Imugene (ASX:IMU) proposes a share consolidation to reduce its circa 7.46 billion shares on issue by a factor of 34, subject to investor approval at an EGM.
Imugene shares have fallen more than 70% over the last two years – and lost close to 10% this morning.
In theory, the shares would be worth 68 cents a share post-consolidation.
Apart from the ‘vibe’ of a company no longer being in ‘penny dreadful’ territory, share consolidations don’t change anything fundamentally.
IMU Price at posting:
2.0¢ Sentiment: Sell Disclosure: Held
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