Largo Inc T.LGO

Meeting

[zutfie]

This morning's virtual meeting less than 10 minutes long...no questions asked. Largo representative concluded meeting with "provisional approval" and official results to be made public later today! GO LARGO!

[jcw604]

Excellent!

[kha341]

Zutfie,  What is your source? An anonymous poster on the Largo Board of Yahoo Finance? Caution: Don’t just take what is posted on an anonymous board at its face value  

[SKiamforsure]

Largo Resources Announces Results of its Special Meeting of Shareholders The consolidation of the Company’s issued and outstanding common shares ("Common Shares") was approved by the Company’s shareholders The Company will release its 2020 annual financial results after the close of market trading on March 17, 2021 Shareholder conference call with Paulo Misk, President and

[LGO5yrplan]

I was in the call and it was exactly that.   2 lgo employees and 1 chairman of the board. 2 questions( one to approve the split and the other to close the meeting .  2 seconding if the motions and it was over.  They approved the split on the spot and said they would post the results later. 

[kha341]

That's fine. The point of my previous post is that if the source of your post is yourself being in the call then you should say so (as you correctly did) but if your source is a copy & paste from another anonymous board then you should make it clear for the readers to understand what they are reading are from an unonymous second source. And if you posted to express your own opinion then it

[LGO5yrplan]

Agreed. 

[Bullsprig57]

I wonder why they decided on 10-1 reverse split and not 7-1 or similar.  Would seem to have plenty of room in case of price retracement to meet NASDQ requirements.  Also, one of the the requirements has to do with no. of shares traded daily.  The less the price, the more shares for the same money would trade.

[st_esteban]

As it has been explained by Kha the ratio has not been decided yet.  The key is the "up to" words: "The consolidation of the Company’s Common Shares on the basis of up to one (1) post-consolidation Common Share for every ten (10) pre-consolidation Common Shares (the "Consolidation") was approved ..."

[kha341]

MATTERS TO BE ACTED UPON AT THE MEETING CONSOLIDATION OF COMMON SHARES At the Meeting, shareholders will be asked to consider for approval, with or without amendment, a special resolution (the "Share Consolidation Resolution") to authorize the Company to amend its articles to consolidate the outstanding Common Shares based on a ratio of one post-consolidation Common Share for up to

[LGO5yrplan]

The two separate reports have the "up to" in different places.  Up to 1 post consolidation for every 10 preconsolidation is a lot different than 1 post consolidation share for up to every 10 pre consolidation. Am I reading this correctly?

[kha341]

A reverse stock split consolidates the number of existing shares by dividing them by a number such as 2 or 3 or 4...or 10, or more up to whatever the number should be, which would be called a 1-for-2 or 1-for-3 or 1-for-4…or 1-for-10, or 1-for-more consolidation. So “up to 1-for-10” consolidation or “1-for-any number up to 10” consolidation is the same thing as both indicate that the existing

[lucidvision]

key words UP TO currently UP TWO

[SKiamforsure]

The consolidation of the Company’s Common Shares on the basis of up to one (1) post-consolidation Common Share for every ten (10) pre-consolidation Common Shares (the "Consolidation") was approved by the Company’s shareholders at the Meeting. A total of 434,131,240 Common Shares were voted at the Meeting representing 72.92% of the Company’s Common Shares as of January 25, 2021, (the

[jcw604]

I usually buy in lots of 1000. A 10 to 1 reverse split works great for me, no odd number of shares.

[SKiamforsure]

Might be to get the number os shares down big share count is scary  ? SK