Always back self interest and the top 20 shareholders own a lot of self interest. The restructure will happen and a fundraiser will follow - probably based on a new project not located in PNG.
And the restructure will hurt - no smash a large majority of current shareholders.
If you have 10,000 shares you will end up with 25 shares.
If you have 50,000 shares you will end up with 125 shares and so on.
If you hold 1,000,000 shares you end up with 2,500 shares.
This is a massive (no MASSIVE) restructure but if the new company structure can result in a share worth $1.00 its market cap will be a tiny $3 odd million.
Lets hope they can produce a project worth $30 million and the shares will be worth around $10 per share.
If that happens todays 10,000 share holder will hold 25 reconstructed shares worth $250. As of today your 10,000 shares (or even your 10 million shares) are worth zilch/nothing.
This Reconstruction is all about the top end of town, not the little guy. Small shareholders can basically shout as loud as they like but they will not be heard.
IDC Price at posting:
0.6¢ Sentiment: None Disclosure: Held
