Post by
ricardo135 on Oct 29, 2014 4:20pm
News Out
Looks like shareholders will be distributed 167,112,449 shares
Cheers all
Comment by
DollarHungry on Oct 29, 2014 4:27pm
It will be 167,112,449 divided by 416,374,000 equal to 40 percent. If you have 100k shares of MNN you will get 40k SacOil share. One SaCoil share is equivalent to ZAR .58 which is CAD .0593
Comment by
Winny1 on Oct 29, 2014 4:39pm
DollarHungry, I'm thinking the same as you. Expect Sacoil's last share price is 2.50 GBP or around 4.5 cents? The number you gave is the average price used to determine the number of Sacoil shares to be given to Mena? Anyways, if it wasn't for the 150 million extra shares, our dividend would have been a lot more.
Comment by
DollarHungry on Oct 29, 2014 4:41pm
I agree Winny but these are freebies so we should all be glad. I just can't figure out why people ran away with .005 in their pocket.
Comment by
Winny1 on Oct 29, 2014 4:45pm
Sacoil's share price has dropped just like a lot of the other oil and gas stocks the past few weeks. If we used today's Sacoil share price to determine the total amount of Sacoil shares to be given to Mena, we would certainly end up with more than 167 million shares to be distributed.
Comment by
DollarHungry on Oct 29, 2014 4:48pm
SacOil price at JSE is 43 ZAR and 2.38 GBP. We have to wait until 4 months so it could be a lot higher then or lower. Anyway its free so I am ok with it.
Comment by
Winny1 on Oct 29, 2014 4:56pm
DollarHungry, you're right. It could be worth more or less come February. Also, Sacoil's outstanding shares have increased, so technically that's not good based on market cap.