SBM is trying to consolidate shares at the moment.
From SBM website:
St Barbara currently has in excess of 1.95 billion shares on issue, which is relatively large for a Company of our size with a market capitalisation of approximately $700 million (based on 38 cents per share as at 3 September 2010).
Some potential international institutional investors are precluded by their charters or mandates from investing in stocks with share prices less than US$1, and as a consequence are precluded from investing in stocks such as St Barbara for as long as our shares trade at prices less than US$1.
The Directors believe that the proposed consolidation of the Company�s shares, in the ratio of six current shares consolidated to one new share, will create a more efficient capital structure and share price for a listed entity of St Barbara�s size and market capitalisation....
SBM is trying to consolidate shares at the moment.From SBM...
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