Member Info for Unimaginative

5 minutes between meetings so I rang them. I get zero as anyone without shares in Greatland Gold with the provider got zero so they'll be releasing my money. I'm still on phone disputing saying that they should check the book base not the provider holdings. They said if I'd have provided them proof before hand they would have allocated, I rang twice before hand and both times notified them that I was a holder with another provider and not once did they ask me for proof. He's just speaking to a senior colleague but doubt it will make a difference as surely they've allocated them out already so unless they have a spare 50,000 shares I'm screwed.

Just seen your follow up post. I won't hold my breath then. FFS. Frustrating considering 90% of my entire portfolio across 3 platforms is GGP. Grrrrr!

Cheers DIP. I wonder if existing holders means existing from the book base or whether the broker determines, if so I'm screwed as I don't hold my allocation with GGP. Left hoping that the price drops below placing price to get myself the shares I desperately want for reducing my average. All a bit frustrating. Might contact AJ myself after meetings this afternoon, although I should imagine it's all been decided surely.

Anyone know any info on when it's due to be heard in court or what's going on behind the scenes in relation? Feels like a while since hearing anything now. I know they have a backlog of 354 cases. The last update we had was February where it was stated " The claim is expected to continue to advance without delay, which includes the upcoming receipt of the State's response to Ascent's memorial both of which are private and confidential in accordance with the rules of the arbitration on process."

Have they told you whether you've got any though, I still don't have a clue from AJ whereas I know other brokers have told people what they've got or not got?

Has anyone had an outcome, I've still got an active order showing?

Surprised to have heard nothing. Still waiting

Still waiting AJBell Ricardo, not in the least bit confident.

Semi retirement - So you're a drain on the economy.

Still not heard anything from AJ. Still says in progress. I don't think I'm going to get anything with it being in my secondary ISA. Got everything crossed. Also went to town on Freetrade this morning for putting me on the backfoot when it's hard enough as it is for retail. I'm going to switch the entire ISA to AJ Bell I think.

A lad I know was in the corporate placing, he applied for 3mil and got about 45% worth.

My AJ account still showing my money is not available to invest but it's not showing any shares as of yet which is annoying, I've got a feeling I'm not going to be happy.

I’m disappointed about the allocation preference as I had to buy using a different broker so chances are I’ve been shafted but at the same time it was the right thing to do.

Absolutely correct Dip666, unfortunately us PIs are just too emotional. I’m in the red I hate it from my perspective as it’s just made it all the more harder for me to get what I want out of it after holding for a few months shy of 5 years, however from a business perspective it’s absolutely brilliant and great for the company and the success of the company.

The one thing I remember reading when we started the descent from 37 was about the life cycle of an explorer, the 37p on the curve so to speak is the point where we should all of jumped ship, that’s the point where pis move off and institutions pick up to help the company grow to the next stage, unfortunately for us and the company we were greedy and have some fan boy going over the company.

"I doff my hat to you SD"

Do you think he reads the message board ya cabbage.

He won't have talked about a consolidation before because before we didn't have 13bn shares in issue. Consolidation is a standard life cycle of a stock, especially penny stocks who require lots of shares to fund activity. Consolidation has positives and negatives. I can't see consolidation not happening. Consolidation will bring liquidity, make it more attractive and means it's more expensive for new entrants meaning that it's harder for the share to be traded. It's a no brainer.

If you're in the red when it happens psychologically it's a nightmare because you feel more confident that going from 10p to 20p is doable but going from £1 to £2 is much harder.

Matty, I'm unsure what your calculations are but I'll try and help

If you owned 10,000 shares at £0.10 each then you'd have a value of £1000

After a 10-for-1 consolidation, you’d own 1,000 shares at £1.00 and have a value of £1000

After a 50-for-1 consolidation, you'd own 200 shares at £5 and have a value of £1000

The value of your shares remains the same but the number of shares you own, your proportion of ownership also doesn't change.

The only impact share consolidation has is psychological and market dynamics.

Correct Magnum, the PI's are in the same boat as everyone else in reality, we're just unlucky that we aren't rich feckers that can take advantage! I've been averaging down for about 2 years and will continue as long as the price remains below my average even if that's for the next 5 years. I'm committed, already lost a shed load of opportunity cost in the form of time so I'm determined that I'm going to get something out of it :D

Half they sell to Wyloo at 9.6p. Then the rest they can't dump on the open market.

Redacted - The woe be me attitude about being a PI is annoying. It's no different to the corporate investors. Lad I know requested 3m in the corporate placing round and got 45%.

Alreadyinuse - 212 is the worst place I've ever bought GGP on, I've never had a problem with most penny US stocks but every time I've tried buying GGP it's just sat there and I was able to do a buy from another no broker with no issue. I've given up on it for GGP.

You are right that there is no change in value with a consolidation.

The problems lie in market dynamics and psychology.

Fewer shares with a higher price make it harder to recover because the price per share needs to increase significantly to reduce your losses. For instance, if you owned 10,000 shares at £0.10 each and the stock price dropped to £0.04 (a 60% loss), the stock needs to rise to £0.10 for you to break even. After a 10-for-1 consolidation, you’d own 1,000 shares at £1.00, but the stock would need to rise to £2.50 (a much higher price) for you to recover the same 60%.

Post-consolidation, the higher share price may make percentage increases feel more difficult to achieve. For example, a jump from £0.05 to £0.10 seems smaller compared to a jump from £1.00 to £2.00, even though they represent the same percentage gain.

I for one don’t want to be in the red when it happens.