I posted on this BB some weeks ago my recent experience of going through a share consolidation process with the company PNP (Pinetree Capital - Toronto) a company in which I originally owned 20000 shares the price of which had fallen 94% from my original purchase to a final closing of C$0.25 - the consolidation/new share issue process has now been completed and the share reopened on the Toronto exchange at C$ 3.5 before falling back to C$3.42 - obliviously PNP and SLE can not be compared directly but it would seem to me there are financial procedures associated with this type event that seem to have a certain similarity - for record then here is what happened .
I originally owned 20000 shares of PNP consolidation was 100 - as per the SLE case - the share was suspended prior to consolidation at it's final resting place of C$ 0.25 - consolidation and new shares were offered (an attempt was made by an aggressive investor to take a majority holding by various manipulative means on the basis that he was the "Savior" of the new share issue one of his conditions was that he be the new CEO) - I was entitled to 200 new shares which I applied for and was duly allocated - share holders rejected the "Saviour" and his offer limiting the number of shares which would have given him a majority holding in the company - yesterday the shares commenced trading again at C$3.5 up from the pre-consolidation price of C$0.25 - as many original SLE investors are all to well aware it doesn't help one recover one's substantial losses, I now own 400 shares at C$ 3.5 whilst nursing a considerable financial loss.
Conspiracy theorists would ask who drove the share price down to C$0.3 - buyers who tried to take control buying a large amount of shares at the bottom, did they know the true value of the company and the most likely opening price post consolidation - they are certainly the ones who made the money here.
I am not saying that SLE will open at GDP 3.5 but there is every chance that a substantial increase will occur as mentioned in my previous post it must be in the range GDP 1.0 to GDP 5.0 aldeitt of course leaving our own "Savior" Tosca and other institutions in control. Happy Days !
Spiderman, Pre consolidation that would have had a lower value, if you had that many now you would be minted. If anyone wants to sell me there shares I will happily buy them off you now. I pay you and you transfer the shares to my name. Any takers?
The magic number to break even well on wards and up wards mix in several dividends keep them building up in account and hopefully with all the rights sle have for seismic and works new horizons I might fine myself somewhere close to break even maybe even profit!?
back in the day - just prior to our big Polish breakthrough, or was it Morocco, or Ireland? ....anyway, I owned 330,000. Now I'm looking forward to an sp of £12 so I can break even and get out (yeh, right)
Serious money coming into SLE - I'm looking forward to the reopening - SLE share price got to settle between UKP 1.00 and UKP 4.00 - detractors would say that is an uneducated guess - given the complex and limited information we have been privy to its about the only estimate we can make given the volatility of the world markets at this time.
Bring it on OF some commentators have been wondering why Tosca and others haven't just taken out all PIs - I am going on the premise that they want to maintain an "open window" to the markets for future fund raisin/share issues.
i hold 20k shares now. i did have more money to purchase more shares for san leon but after the last placing and watching it drop to 30p i honestly thought it would from to the 15p's and i decided not to as i was already 65k down on my investment. I wish i had of added now but at the time i couldn't justify loosing more money. however if i had of put just 5k down. i would of had over 15k back when this reopens and a minimum of £1.05.
looking to hit £4 to break even. talk of £4-£7 is very exciting. but only farther time will prove what price will be reached.
good look to all. 2016 could be our year :) boom !
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.