This when I read it gave me no concern; until a couple of day ago when I read the fine print
and to my horror found that when you divided you stock by 6 and got less that a .5 ie: .33 or .4
you are to be rounded down and if you have .5 or greater you would be rounded up ie .67 or .50.
I have been involved with a few of these and never have I seen this CFO mathematical rubbish.
With 4313 share holders it would cost them $11,645.10 if they gave EVERY shareholder an additional
share. The real cost of "no disadvantage" would be more like $4,000.
When you put this in context of having to vote on remuneration packages and the 1,000's of cheap
shares for management, for, in the main doing their job, I cannot remain silent.
For the record I topped up my holding today with a "strategic" amount..........I've got my free half share.
I will be watching before voting at next years AGM.
Wednesday/tomorrow is the last day to trade prior to consolidation.
INA Price at posting:
44.5¢ Sentiment: Hold Disclosure: Held
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