The JSE and finance forum for South Africa
General Category => Shares => Topic started by: attuu on July 21, 2014, 01:00:48 pm
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Why the big jump today? Anyone has this share must be very happy now....
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I saw it dropping a while back and had it on my watch list. Wish i had bought some.
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NEWS RELEASE
EASTERN PLATINUM LIMITED CLARIFIES EFFECTIVE
TRADING DATE FOR ITS CONSOLIDATED COMMON SHARES
July 18, 2014, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the “Company”)
(TSX: ELR; JSE: EPS) – Further to its news release of July 15, 2014, the Company wishes to announce
that its common shares will now commence trading on the Toronto Stock Exchange on a post split and
post consolidated basis at the market opening on Monday July 21, 2014, not Friday July 18, 2014 as
previously reported.
Pursuant to a special resolution passed by shareholders on June 12, 2014, the Company effected a
consolidation of its common shares on a 1,000 old for 1 new basis (the “Consolidation”) on July 15, 2014.
Shareholders holding less than one full share post-Consolidation are entitled to a cash payment of $0.11
(ZAR1.04) per share of their holdings on a pre-Consolidation basis in lieu of a fractional share, such
amount being equal to the average weighted trading price of the pre-Consolidated Shares on the TSX (and
the JSE) for the ten trading days preceding the effective date of the Consolidation. Following the
Consolidation, the Company immediately completed a stock split on the basis of 1 old for 100 new, with
fractional shares being rounded to the nearest whole number (the “Stock Split”). The Consolidation and
Stock Split achieved a 10 to 1 consolidation and eliminated all of the shareholdings of less than 1,000 pre-
Consolidation shares in exchange for the cash payment of $0.11 (ZAR1.04) per share.
Shareholders on the South African sub-register are advised that the JSE timetable relating to the
Consolidation and Stock Split, as previously announced on SENS, remains unchanged.
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@jaDEB,
Is it correct to say shareholders' investment values have not been changed?
1 new share = 100 old share
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I read it as 1,000 old for 1 new basis, hence the 800% rise in share price
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I read it as 1,000 old for 1 new basis, hence the 800% rise in share price
I’m not quite understand this, please can you explain it.
Saying if I had 1000 shares @ 104c before = total investment of R 1 040
Now, what will be my current situation in terms of numbers of shares, price, and total value?
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It seems it did 10-1 split Price is now 1186c Now u will have 100 share @ R11,86 ea = R1186.00
The Consolidation and Stock Split achieved a 10 to 1 consolidation and eliminated all of the shareholdings of less than 1,000 pre-
Consolidation shares in exchange for the cash payment of $0.11 (ZAR1.04) per share