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MATRIX METALS LIMITED (ASX:MRX) - mrx - where is this one going, page-5 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum
MRX
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0.00% 0.7¢ matrix metals limited

mrx - where is this one going, page-5

  1. TONSTRIL
    78 Posts.
    clock Created with Sketch.
    23/04/13
    05:41
    Post #: 11675711
    As a long term sufferer of this debacle I can shed some light.

    After Glencore called in the receivers it took the decent tenemants and left the company as a shell with a couple of relatively unexplored tenemants.

    The company was then restructured with the lucky punters (including me - I had 1M of them) ending up with 1 new share for every 50 they origionally had. They then issued new shares to the promoters of the reorganised company & creditors further diluting the original mug shareholder (yes that's me again).

    As part of the above process the company was suspended from ASX & removed from CHESS sponsorship. You still own the shares (albeit 1/50th of the original number) & you will have been sent a new share certificate/statement with an issuer sponsored number. Just find that statement & give it to your broker & it can be put back on CHESS. I use Comsec & I have my holding back on CHESS (not that it is worth diddly but at least I can sell before 30 June & crystallise a rather embarrassing loss - at least I won't pay ant CGT for a while).

    Cheers

    T
    MRX Price at posting: 1.1¢ Sentiment: None Disclosure: Held
    Likes Created with Sketch. 3  Upvote
    lightbulb Created with Sketch.  Great analysis
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