Reverse SplitDid some back of the envelope calculations this A.M.
When all is said and done, assuming no major variations in the stock price of WGX, I come up with about one and half to two billion shares outstanding of the new issue.
I'd guess the value CN would be between $1.50 and $2.00 per share.
It's typical in Australia to have huge numbers of shares outstanding at a low price per share.
To be more attractive to North American retail and instituional investors, I feel that a one for ten would make both the number of shares and the stock price a lot more attractive.
I don't know if a vote is required for this to potentially happen, but I think it should.
And, IMO it should happen when the trading has stopped while the arrangement is consummated.
That way, the stock comes out of the shute at 10 to 15 dollars a share with maybe 150 million shares out.
Anybody agree?