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A Consolidation has been announced on Fastjet Limited ORD (FJET.XLON.GB). Holdings are due to be
consolidated, at a ratio of 1.000000000 new share for every 10000.000000000 existing shares held as at
29 September 2022.
Had a shock yesterday when checking my share holdings, had to phone the bank to find find out where my shares had gone. See above.
So, does this mean my 3 million shares, now 300 shares are never going to be worth any things. I thought we were starting to turn a profit, so why was this action taken? Or is it that I do not understand these things?
if anyone from the company reads this, can you please explain?
Thanks
Would appear you are correct. Just checked my shareholding and now I am holding just above zilch!!! They didn't even round up, they rounded down, thanks for nothing FJET!!! Literally!
Going to have to write this down as a loss which I can ill afford but with whats left of my holding, I'm never going to get any value back on this one.
So can anyone explain to me, with my shares now worth absolutely zero, the flight schedules still showing no cancellations. Eg: my single trial example – Harare to Jo’burg: “Hurry! 2, 3 or 4 seats left”? Prices from $242 for ValueFlyers up to $342 for FlexiFlyers? As I write “14 people [were] viewing this route”! Looks darned healthy to me still. But then, wasn’t I always the optimist.
Marksman – Original investor of 35,000 shares at 2.86p each on 27 Feb 2013, soon to drop down to 0.69p before ‘recovering’ to 1p on 1 July 2013. Hit a high of 7.22p on 28 Aug 2013 before sliding right down to £1 after second Consolidation of 1 for every 100 on 20 April 2015.
You and me both Marksman. I had managed to get my average share price down to 7p per share, now to even break even the shares would have to be £800 / share which is never going to happen, never!. Looks like a deliberate ploy to get all the other share holders out of the business and with 67% of the shareholding, Solenta can do what they like with the shares, we have all been well and truly f**ked!
Yes, it does look a tad suspicious, doesn’t it, Fossiebeer I had got my overall average down to £1.30 by mid-July 2018 after the 1 for 26 Open Offer, but the actual share price was £0.08p. Still, I’d be happy with 800p a share! At least, I’d have recovered £1144.
Shares last traded on Asset match for 0.03 pence, so the current value is a third of that before the corporate action.
I previously held 3.1 million shares, so if the price would have increased to 1p, they would have been worth £31,000 plus. The price would now have to get to over £100 per share to get the same amount. At pricing the new share at 100p they will stop investment ie people buying, where as while in the pence and below, people may have taken a punt.
Seems to me someone as a plan, now that the airline has survived, the covid crisis and is now making a profit. I expect a forced buy back on the cheap at some stage? Or maybe we are going to get rich on the dividends.