Today is 'Record Day for Capital Consolidation'. This where you get 1 new share for every 8. Doesn't sound so bad until you look at the squillion of new shares being issued.
The nett assets according to the pro forma statement will be $1,164,633 and the number of new shares 349,284,834. So the value per share will be about $0.0033. If you had 16,000 shares just prior to going into admin you'll come out of it with 2000 and they'll be worth about $6.60.
So how do you get rid of them? Gift them to a charity? Hope that WVL will do a share buy-back of unmarketable parcels?
Holding 'cos I have to.
TSL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
