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Online Share Trading

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OML - Share consolidation

Reply
gareth01
Regular Contributor
Seems like OST call centre does not know whats going to happen with regards to the share consolidation, though I should have asked around before entering the position. Besides the ex dividend come Monday, there will be a share consolidation. Some speculation says 6 for every 7 and now heard 7 for every 8... Though OML says on their website shareholders % ownership will be unaffected through this consolidation in shares, surely this will have an impact on traders? Advice please?
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16 REPLIES 16
cheapcheap
Regular Contributor
it's 7 for 8 and it won't affect your % holdings,purely cosmetic ,to make up for the price fall after going ex-div on monday
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gareth01
Regular Contributor
thanks for the peace of mind....:) Now let me relax and await the large dividend come Monday:)
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cheapcheap
Regular Contributor
pay dates only in june though,i hope the price doesn't crash too much!! do you know anything about the ipo that they talk about? or maybe someone on the forum knows?
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Not applicable
Feel like I have been robbed!
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cheapcheap
Regular Contributor
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superstar
Regular Contributor
Did you go to the police? LOL
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cheapcheap
Regular Contributor
i feel robbed with the share installment or maybe im just stupid. the installments price matrix has been adjusted,i don't know if it's because of the div or consolidation. anyway,the consolidation has not happened yet.i phoned old mutual and they say it's only happening as of trade on 23 april-that means that the price the share is currently trading at ,is the same as before and that investors think that the shares have been consolidated,which they haven't...so the share installment should trade at the same price as before ex-div and change after the consolidation,but it's not......i think im the stupid one then.?
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MoMo01
Frequent Contributor
I HAD A LONG POSITION 500 OMLCFD,YESTERDAY STD BANK EXECUTED BUY 438 OML CFD AND SELL 500 WITH R0 TRANSACTION COSTS.THAT I UNDERSTAND.I SAW THE PRICE FALLING SO I SOLD THE 438 CLOSED THE POSITION YESTERDAY..TO DAY STD BANK EXECUTED BUY 438 AT R22.40 AND SELL 438 AT R19.60.SO NOW IM SITTING WITH THIS BIG LOSS. ANYONE KNOW WHY,CAN EXPLAIN PLEASE
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cheapcheap
Regular Contributor
i might be barking up the wrong tree here but they have got the date of the consolidation wrong....it's only happening on the 23rd.i confirmed it yesterday with computershare.
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SimonPB
Valued Contributor
that's the record date .. what was the LDT date for the consolidation ?? from the sens ..
Opening of business on 16 April 2012
Admission of New Ordinary Shares to the branch registers in South Africa, Malawi and Zimbabwe and on the Namibian section of the principal register, and commencement of dealings in such New Ordinary Shares ex-Special Dividend and Final Dividend (in each case, on a to be issued basis)
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cheapcheap
Regular Contributor
that's what they've done with you 500/8 x7=438....read the last sens on the special div,it states there that the consolidation is effective 23 April,i sent an email to them yesterday asking about the adjustment,still waiting for a reply....
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cheapcheap
Regular Contributor
Simon,so in my case the price has been adjusted because my holding is still the same?
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SimonPB
Valued Contributor
my holding is not the same, it has been adjusted ..
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el_nino
Contributor
Any reason for my value at cost price being shown as being equal to value at ruling market price ???
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DNSC
Occasional Contributor
Simon, have you been able to work out the effects of adjustment on the value of your holding ....
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SimonPB
Valued Contributor
nope, not bothered .. I only hold OML coz they gave me the shares after I bought a RA way back when I knew little ..
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