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Sunday, September 28, 2014 1:08:45 PM
If they want to do 1:100000 conversion the new AS must be increased to 3,504,850,000,000 (3.50485T) shares due to 35M shares of PS-E totally. Who with the right minds would buy the 3.5T new garbage shares? I bet at most they could dump 1B ~ 2B shares (i.e. 10K ~ 20K PS-E shares) at 0.0001 then the ask must stuck at 0.0001 forever without any further trade!
If they want to do the R/S then the above-mentioned same problem will happen again since the PS-E can be converted to 3.5T common shares! Furthermore why in the hell a majority common shareholder (the CEO owns 3B common shares) does a R/S against his own huge interests? Plus the situation will get even worse if R/S again because no more existing shareholders would buy any new junk shares again to hurt their own interests further!
Therefore ARNH won't do either increasing the AS or R/S to convert the so-called 1:100000 PS-E! The only solution is: decrease the conversion ratio significantly to 22 (not 100000) or less (if the available shares to issue is less than 770M shares) based on the current AS (I checked with FL last week and the AS is still 4.85B shares).
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