1:75 shares changes ??

[big ant]

If someone can give a clue or two for me;

BCP Millennium on Euronext Lisbon market, price has collapsed dramatically from recently 0,09 down to 0,0155 EUR per share.

Now the sneaky sods want to do a 1:75 swap, I'm guessing, 75 old shares for 1 new share (?) or something like that.

What is the lilkely game that management hopes to achieve from that ??

My cynical view, the share price can't keep falling, because they are nearly at zero now ! And, I suspect a rights issue or capital raising exercise is not far away.

P.S. I have no confidence in the country or company governance !

Thanks, Big Ant

[WindyCommon]

big ant said:

If someone can give a clue or two for me;

BCP Millennium on Euronext Lisbon market, price has collapsed dramatically from recently 0,09 down to 0,0155 EUR per share.

Now the sneaky sods want to do a 1:75 swap, I'm guessing, 75 old shares for 1 new share (?) or something like that.

What is the lilkely game that management hopes to achieve from that ??

My cynical view, the share price can't keep falling, because they are nearly at zero now ! And, I suspect a rights issue or capital raising exercise is not far away.

P.S. I have no confidence in the country or company governance !

Thanks, Big Ant

It is a reverse stock split. They may well have been required to do this by the exchange because their share price has fallen below a stated minimum.

[big ant]

So technical compliance reasons, nothing potentially ricky then...thanks.