I wish they could give out 0.03 this year
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I wish they could give out 0.03 this year
Changes ahead for ALF holders.....
"The Directors of Allied Farmers Limited (ALF) have resolved to consolidate the existing ordinary shares (Shares) on issue in ALF (Consolidation). Under the Consolidation, every 10 existing Shares held in ALF on 16 July 2019 (Record Date) will be consolidated into 1 Share. As a result of the Consolidation the number of Shares on issue in ALF will be reduced from 178,547,294 to approximately 17,854,729 Shares."
It will be more easier for investor to see the earning numbers per share and pe
Yeah. I would currently describe it as a penny stock, but not a penny dreadful stock.
I note the end of the announcement states "... it is anticipated that the price at which Shares trade on the NZX immediately following the Consolidation will increase relative to the Consolidation ratio."
Not sure if this is the case. Most share consolidations I have seen have resulted in a small decrease in the overall market cap. ie. A lot of Mum and Dad investors prefer paying $1/share instead of $10/share after a hypothetical 10-1 share split... they perceive better value for money (ie, $1k gets you 1000 shares instead of only 100).
Visa versa for a share consolidation.
On 16-Nov-2011 ALF undertook a 100:1 share consolidation. Refer http://nzx-prod-s7fsd7f98s.s3-websit...386/149298.pdf
The number of shares on issue went from 9 billion to 90 million. :eek2:
I recall the overall market cap dropped quite a bit following (due to?) that consolidation,... but my memory may be failing me here.
$0.70/share does look better than $0.07 I guess, so this consolidation may improve the price slightly.
Sorry, yes I should have written just a penny stock.
I agree that consolidations often result in a small decrease in the overall market cap,[in the short term]. .
Doing my community service today, I took the 68,054 shares off the seller's hands at 7 cents.
Perhaps it was a mention in www.chrislee.co.nz market news. that has caused the strong buying interest,.?