ZMI in RE - Reconstructed

ZMI shows RE (NAB). This could mean they are issuing more shares or reducing the amount of shares available.

Do trades for today still go through? Will todays trades count as part of the reconstruction? What's the news? Have I missed something? Obviously holding what I have & this doesn't change anybody's stake in the company either way but does anyone have any news?

Sounds like any more trades today will be purged? Thoughts?

"
The reconstruction flag 'RE' is applied from the day the security commences trading on a reconstructed basis and remains for 12 months. Securities which have been reconstructed within the last 12 months may be found via ASX Trade using:

• Function STA/STK - an 'R' is displayed between the security code and company name
• Function D - the term RECONST will be displayed on the second header line
• Detail/Depth/Look & Watch - an RE will be displayed in the basis of quotation field.

A reconstruction may be a consolidation (reduction in the number of shares on issue) or a split (increase in the number of shares on issue). So, for example, if there is a 3:1 consolidation then the company will issue to shareholders one new share for every three existing shares. This type of change will usually result in the new share price being about three times that of the old. Alternatively if there is a 4:1 split then the company will issue shareholders four new shares for every one existing share and the share price will usually be reduced accordingly, i.e. divided by four in this case. Generally when a security commences trading on a reconstructed basis, a new trading code is established. In the instance when a new trading code is not established, all orders are purged at the end of the trading day prior to the security being quoted on an RE basis.



Read more: http://m.asx.com.au/status-notes/re.htm#ixzz4P0SMIKCz"

http://m.asx.com.au/status-notes/re.htm