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Class 2 shares are the legacy from the 2020 equity raise. New 'owners' were keen to remove the drag from the early blunders. Just Ignore them
Just ignore the class 2 deferred share, it is irrelevant, and the maximum charitable donation you will make if your holding doesn’t exactly divide by 100 is circa 59p (99 x .6p), so not worth worrying about either. Much more interesting would be a q1 trading update to coincide with the changes.
It looks very much like the nominal value of each proposed nominal share of £0.001 will be unchanged from the nominal value of existing shares £0.001 according to the table at the bottom of the announcement.
Make sure your total share count is divisible by 100 unless you want to make a charitable donation…
Mind you, for this one, how many of you have a number of shares that doesn’t divide by 10000???
Yes, its as clear as mud.
it seems though that the class 2 shares are just a mechanism needed to complete the consolidation.
They are worth nothing and unless you hold a share certificate you won't get them anyway.
OK so I think we all knew this was happening, but can anybody please explain what a 'Class2 Deferred Share' is and what do I do with it. I have read the RNS a few times but still can't get my head around it. Any help appreciated (in plain English please!!)
This company with the luck you always need has such a bright future. Management are super, products super and prospects bright
Up 6 percent nice to see. Maybe more II getting on board.?
In the next 12 months we will v likely see shoots of economic recovery, TRX becoming profitable over the entire year, and a share consolidation to reduce liquidity. A perfect storm for sudden, swift increases. I am holding for the longer-term.
This is still a very firm hold for me.
These AIM minnows can take off at any time, more or less without warning.
The share consolidation could be the catalyst for that, especially if it encourages a few large investors to take a stake.
The SP has certainly been flat for a while now, but there is nothing not to like about TRX and the management are doing a very good and proficient job .
If it's good enough for Richard Sneller to increase his stake to 12%, then it's good enough for me :)
Fair point Platoh, it does depend on the price.
My average is just over 0.5p, so even without any spread that would have to be my starting SP and I don't think it will get that high (at least).
That said, no decisions have been made yet and all reent news has been very encouraging, so who knows what could happen.
Second RNS today.
10 bagger starting from where? I think there's every prospect of the share price hitting 3p (aka £3 after consolidation).
Today (5th April) is the last day of the UK tax year. Sellers who are looking to either lock in profits or crystallise losses should dry up after today.
I must admit my hopes of this being a 10 bagger aren't what they used to be.
Sorry, I know that's not what you wanted to hear, but then again stranger things have happened!
haha yes ! that would work lol though with this consolidation were destend to be at 57p. not overly crazy about that to be fair would have preferred a 10-1 not a 100-1 change up as i feel at 5.7p there was more chance this company could still be a 5-10 bagger at 57 p id consider this far less likely - unless people disagree ? ( please do i want you too ! means i could still get rich off this haha ;) )
I think my calculator is faulty :)
Or just wait until trx is at 5.7p a share, then I'll be correct!
also says 8K on the RNS ;)
any director buy is a good director buy. however my math tells me it was only an *K purchase not 80k ?
They both each put in about 80k, which seems confident to me.
Wow, last of the big spenders. JJ
Well with 6 billion shares in issue , I would say that them both below 10 million share ownership is not over confident.
Daniel Lee and David ****e each purchased 1,428,570 shares. A good vote of confidence
nice string of 1million sells someones stopped collecting.!
So effectively giving us 2 shares for every 100 we own. Yet the class 2 share represents 99% of our share value while it has no rights (and likely no dividends etc).
So if class 2 shares cannot be traded on open market (will they be tradeable?), the BOD are effectively giving us 100th the value back in 'normal' shares.
What a SCAM!!!
TIME TO SELL and 'maybe' buy back in when this scam is over.