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?
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.?
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
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)
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....