We had a share consolidation in Sept 2014. It was an 8:1 consolidation.
My holding went from a cost base of $0.09 to $0.72 / share (obviously).About 9 months later we were asked to take part in a rights issue at $0.25 / share.
But it didn't stop there.10 years and a number of dilutions later, here we are at 8 cents.
Apart from a fleeting, false sense that your share value has improved, I can't think of any reason for it.
The other way I see it is that at 2 billion shares the temptation to further dilute might be less than if we were at 200 million. Just a psychological barrier maybe?
HGO - Chart, page-271
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Last
6.5¢ |
Change
-0.004(5.80%) |
Mkt cap ! $136.2M | |||
| Open | High | Low | Value | Volume |
| 6.8¢ | 6.8¢ | 6.5¢ | $190.5K | 2.870M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 1461518 | 6.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.6¢ | 43423 | 1 |
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| Last trade - 16.10pm 24/06/2024 (20 minute delay) ? |
| HGO (ASX) Chart |