Deferred shares can arise when a company wants or needs to reduce its nominal share par value (THOR needed to for share placement), usually for fund raising as any company cannot create new shares at a lower price than current par value.
check out http://www.investorschronicle.co.uk/2011/11/11/your-money/rebuilding-capital-sXHiEj2f1RFuDUB0yUk0qK/article.html;jsessionid=9FC961119E6148B198BC872D989DCF14.mps-apr-01-8104
Deferred shares appear to have no practical use...
'Deferred Share' - Subordinate to all other classes of common and preferred stock, these shares are last in line when a company goes bankrupt and liquidates all assets. They have no value, cannot be traded & are essentially worthless.
Because deferred shares are excluded from active trading by the recipients, they tend to provide larger dividend payouts than either common stock or preferred stock.
Maybe MB can see THOR dividend payments in the future?
check out http://www.investopedia.com/ http://www.wisegeek.com/
Depending on your outlook this can read good or bad, personally i see it more good than bad, Mick has funds for drilling & exploring & THOR's shelf life is extended...more time on the clock means we are still in the game, with a chance ;-)
hope this in someway helps....
gl MT
THR Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
