Reconnaissance Energy (Africa) Ltd V.RECO

Read the PR properly

[Yolostar]

..the only ROE shares that will transfer over to RECO are the ones held on or before the 26th of July...therefore the last 3 days of ROE trading were for penny flipping...i hope nobody dumped big money into ROE today thinking it'll be transfered to RECO with a premium....

[allnrg]

Think that's a pretty silly comment, if true in theory ROE should have gone to zero,. End of day things balanced out just noted when I made the post ROE was trading at a small premium,

[AUborealis]

I find it hard to believe how someone with so little knowledge of the basics of share trading, settlement procedures, and mergers and acquisitions, is allowed to invest their own money, and then make public comments displaying their ignorance of such matters, on a public forum such as SH. I recommend you memorize Investopedia before venturing any deeper into this ocean. Good luck. ocean

[RHertig]

You are 100% wrong. If you truly want an explanation of how it works I will explain it.

[Yolostar]

...sure , i can admit when I'm wrong.... the effective date of July 27 at 12:01, and the share transfer at 0.046 as of market close on July 26, is what isn't clear to me....

[LandCruiser1983]

You are wrong, all roe shares roll over to reco.

[LandCruiser1983]

Yolostar,u need to read release before posting such a comment !

[Yolostar]

honest mistake...my misunderstanding is why the PR said " for each share held at the close of business on July 26th"...my understanding was that these shares would be transfered, and any shares sold or purchased after the 26th would not qualify, and thee cash would be transfered back into one's trading or brokerage account, one ROE was delisted .....no harm intended

[RHertig]

Sorry I didn't see your last post before I replied. Yes it can be confusing. The shares are actually held by your brokerage and whose name is attached is handled by them.