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Share Quantity Reduced

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Osborne
New Contributor
Hi, I bought about 200 Lonmin shares. Today when I was checking my portfolios, I noticed that the Lonmin share price went up from R0.16 to R 13.00 however my shares were reduced from 200 to 1 share. Can you please help to understand as what would have happen. Thank you for your time Osborne Magada
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Not applicable
its called a share consolidation/reverse share split. Companies do this to get their share price to a higher price. It will have no affect for you though.
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Osborne
New Contributor
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Not applicable
Hi I also have the same situation...bought 322 shares at 560c early November...Now I have 3 shares!!!! :( Im new to share trading and utterly confused
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TAKR
Contributor
There is a lesson in there somewhere............don't buy shares in LON...ever.
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Super Contributor
You guys are buying insanely small positions - the transaction costs must be ruinous!
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Not applicable
@TAKR you have given the best advice possible
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conradl
Contributor
Why don't people actually answer the questions... They did a share consolidation as was announced in the SENS a few weeks back. Looks like a 100:1 consolidation, ie for every 100 shares you owned, you would have received 1 new LON share. http://www.moneyweb.co.za/mny_sens/lonmin-plc-consolidation-of-lonmin-ordinary-shares/ Also, as one of the other guys said, what are you doing buying such small lots, at R70 per trade you are killing yourself in fees! @YoungMoney, you need to decide whether you want to trade or invest, but I would start with investing as a introduction to the markets and how they work.
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alias
Occasional Contributor
I had the same problem
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