Bombersteve "How could a stock go below the amount of the dividend unless it means that divi won't be paid ?" I think there are other possiblities beyond just that the divi won't be paid, because of the fact that these are part paid. In other words, the market value could reasonably be less than the forthcoming divi if: A) The final value of the FP's is seen as less than $2 (or less than $1 after next instalment) AND B) It will be impossible to get rid of partly paid stock at a result of less than minus 5.95 cents (by selling, returning to issuer,paying someone to take them, shredding, hari-kiri or in any other way whatsoever) in the time between XD and second instalment AND c) BrisConnect can and will successfully sue its shareholders to extract the second instalment.
Extraordinary, as you say, to contemplate all these being true, particularly since we're dealing with a solvent company, but why else would Macq sell for next to nothing?
TOL Price at posting:
$6.75 Sentiment: None Disclosure: Not Held
