What has happened to PDN
PDN seems to have disappeared from the main board?
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Answer
Hi Graham,
We have been asked this a number of times over the last 48-hours. Paladin has commenced trading on a deferred settlement basis post consolidation.
- In simple terms if you has 100 shares which were trading at $1.50 you now have 10 trading at $15.00, i.e. no change in monetary value.
The reason for the consolidation is an attempt by the company to attract overseas investors to its register, PDN was trading ~$1.50 while Apple Inc (AAPL US) is ~$US170, a big difference in perception to international investors.
