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Author Topic: Changes to the number of shares held in Central Rand Gold (CRD)  (Read 20651 times)

Patrick

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Changes to the number of shares held in Central Rand Gold (CRD)
« on: June 11, 2013, 05:55:34 pm »
If you are wondering about the huge jump up and then back down the leaderboard today, it's due to the fact that Central Rand Gold changed the way they value each share. The change in every day english, is that for every 50 shares you had, you now have 1.

If you had them in your portfolio you'll see the change. Hope you enjoyed the day waaaay on top of the leaderboard, and did some good bragging for a while too  :D

Here's the SENS announcement:
Quote
(b) in relation to the register of members of the Company maintained in South Africa:
(i)
49 of every 50 Ordinary Shares held by a member as at 5.00 p.m. (South African time) on Friday, 14 June 2013 shall each be redesignated as Deferred Shares;
(ii)
any Ordinary Shares held by a member who, as at 5.00 p.m. (South African time) on Friday, 14 June 2013, holds less than 50 Ordinary Shares shall each be redesignated as Deferred
Shares; and
(iii)
any additional Ordinary Shares held by a member following the redesignation in sub-paragraph (b)(i) above shall each be redesignated as Deferred Shares.
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Orca

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Re: Changes to the number of shares held in Central Rand Gold (CRD)
« Reply #1 on: June 11, 2013, 06:33:22 pm »
Geez. I thought I had serious competition here. :)
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I started here with nothing and still have most of it left.

gizmmo

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Re: Changes to the number of shares held in Central Rand Gold (CRD)
« Reply #2 on: June 13, 2013, 09:42:37 am »
Alrighty then, i see the changes, but can you explain why my total worth on the shares is R75k+- but i invested over R120k +- in the shares ? what happened to the extra cash?
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Sparkz

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Re: Changes to the number of shares held in Central Rand Gold (CRD)
« Reply #3 on: June 13, 2013, 09:51:28 am »
Quote from: gizmmo on June 13, 2013, 09:42:37 am
Alrighty then, i see the changes, but can you explain why my total worth on the shares is R75k+- but i invested over R120k +- in the shares ? what happened to the extra cash?

Agreed, i was wondering the same...
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Patrick

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Re: Changes to the number of shares held in Central Rand Gold (CRD)
« Reply #4 on: June 13, 2013, 10:50:14 am »
Quote from: Sparkz on June 13, 2013, 09:51:28 am
Quote from: gizmmo on June 13, 2013, 09:42:37 am
Alrighty then, i see the changes, but can you explain why my total worth on the shares is R75k+- but i invested over R120k +- in the shares ? what happened to the extra cash?

Agreed, i was wondering the same...

Wish I knew, the sens announcement clearly says 49/50 are deferred, so I divided all holdings by 50. I've looked at all the sens announcements and don't see anything else. If anyone can find more info I'd be happy to look at it.
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gizmmo

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Re: Changes to the number of shares held in Central Rand Gold (CRD)
« Reply #5 on: June 13, 2013, 11:13:37 am »
still doesnt make sense,deferred shares are still worth something.. you may not get paid out until the ordinary shares are paid out. so it should still in fact be a investment, but you'll only get paid out 1 out of every 50shares first.  but i still want to know how 100K +- went missing, a share from 6c shot up to 190c and a 100k disappears.. just doesnt make sense right now.. is there anyone out there that can shed light on this? in the real world i highly doubt a investor will take something like this lying down!
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tgg78703

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Re: Changes to the number of shares held in Central Rand Gold (CRD)
« Reply #6 on: June 13, 2013, 11:29:53 am »
at 190 on the reduced shares the old price is .038 and you bought at .06.

read comments on this site

http://www.lse.co.uk/ShareChat.asp?ShareTicker=CRND
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