Replies to post #17936 on Progressive Stocks

[Huggy Bear]

The language of today's 6-K is a far cry from the previous 6-K which induced a bear raid all over the world market ADR's of NBG, not to mention the parent stock.

a. the increase of the face value of each share from EUR 0.30 to EUR 4.50 with decrease of the total number of existing shares from 3,533,149,631 to 235,543,309 common registered shares (reverse split) at a ratio of 1 new share to replace 15 existing shares.

b. the decrease of the share capital of the Bank by EUR 989,281,897.80. Such decrease of the share capital shall be effected by decreasing respectively the face value of each share from EUR 4.50 to EUR 0.30. Following the above decrease, the Bank’s share capital amounts to EUR 70,662,992.70, divided into 235,543,309 common registered shares of a face value of EUR 0.30 each.

.02 recap shares and .30 recap shares issued and then a reverse split is a huge damn difference and reeks quite frankly.


And in the 6-K they said this was decided inter alia, emphasis all theirs as if they did not know what they were doing when they announced a recap offering of .02 Euro to be split adjusted to .30 Euro.

Now it is .30 Euro to 4.50 Euro now that the bears had a field day. They are playing both sides of the fence and burning the FUD investors worldwide at their whim IMO.

I would not be surprised to see EU regulators jump on this "discrepancy" which was an "inter alia" special board decision in light of all things.

Sheesh. Big boards sometimes as crooked as the pinks.