Share Consolidation - What happens ?

[ChrisFooty]

One of the shares I currently hold (CCC) is doing a share consolidation on a 10:1 basis. This means if you hold a 100k of shares at 5cents, post consolidation it will turn into 10k shares at 50 cent a share.

Do I need to do anything myself? Or will Commsec just automatically update my shares once the consolidation process has gone through.

Have you had any expierneces with shares that have gone through this share consolidation process? How did your shares fare?

I actually believe it's not a bad thing, the company has solid long term fundamentals and currently there are far too many shares on issue. A silly amount.

Thoughts?

 

[NitroFan]

ive had it happen a couple of times. cant remember how the price went but im pretty sure commsec take care of everything. might take a couple of days to come up properly though.

 

[The BRICKSTER]

I'm in CCC too, the sooner the consolidation the better.

 

[gormanisahack]

I'm in CCC too, the sooner the consolidation the better.

True, definitely agree.

 

[ChrisFooty]

So I take the answer is I do not need to do anything.

Can't beleive how undervalued it is, even getting sold once again on a green day and despite the fact they released a great announcement a few days earlier.

 

[grimface_87]

No you don't have to do anything. It is all done behind the scenes