Quote Originally Posted by winner69 View Post
Liz - I haven't been able to keep up ... so how nany shares did they end up with before the consolidation .... billions or trillions or zillions

All I know that ALF shareprice is now 5 cents ... much higher than the beginning of the year so should save my bacon in the NZX comp
How is it you always manage to fit more words between the lines than you do in them?

So excuse me if I read incorrectly, but what you are saying is.... "it would be fun to get away with this in the comp without Liz noticing, but at the same time I know she's not completely blind so I'll just opt for a laugh at the possibility" or perhaps "ALF are going to confuse a few former Hanover debenture holders with this - and may even be getting some comfort out of doing so" or (like everyone else here), "why the heck did the price go down so much on consolidation?"...

To the latter, I think you would have to go with Xerof's hypothesis that the bond holders found some liquidity to sell into and were willing to take a haircut (given many of them were already up for one on the bonds, so had already priced in the loss - or had bought below face value) and therefore taking the sp with them as they exit.