Royal Petroleum Corp. WHAT DOES THIS MEAN DOES ANYONE KNOW

[no51eys]

Royal Petroleum Corp. Announces Forward Stock Split
Thursday April 5, 11:37 am ET


CALGARY, Alberta, April 5, 2007 (PRIME NEWSWIRE) -- Royal Petroleum Corporation (Other OTC:RYLP.PK - News) (GR:R7P) Board of Directors has approved a forward split of the Company's stock. Shareholders of record as of April 23, 2007 will receive 5 (five) common shares for every 1 (one) common share held. There will be no change in the par value of the shares. Royal Petroleum shareholders of record will be issued the additional shares by mail on payment date of May 11, 2007 and will not be required to surrender existing certificates.

WHAT DOES THIS MEAN DOES ANYONE KNOW

 

[Splitlink]

This is often done to make the price of the shares more marketable. Lots of people would rather have 5x$6 shares than one of $30. There may be other reasons that I don't know of.

I am expecting something of this sort to happen to some of the highter priced Footsie shares. I think that RBS has, already, done this, hasn't it? Because I noted that they are around 647 now and they used to be, relatively recently, 1300.

Split

 

[carbon37]

Anyone heard of Asian Direct Capital Management who are offering amazing deal on Royal Petroleum Corp shares of which I havbe 30,000

 

[PieterSteidelmayer]

Your holding must be worth what now, somewhere between $0.00 and $0.30?

ADCM have less than $10m under investment so you will be in good company.

 

[PieterSteidelmayer]

No edit facility on my post above.

Wanted to add that I wasn't even aware ADCM were still operating.

 

[carbon37]

ACDM and Royal Petroleum

No edit facility on my post above.

Wanted to add that I wasn't even aware ADCM were still operating.

Many thanks for that and note that ACDM are offering $4.50 per share so long as I send them my bank details and pay a 'refundable bond' of some$20,000

 

[PieterSteidelmayer]

Many thanks for that and note that ACDM are offering $4.50 per share so long as I send them my bank details and pay a 'refundable bond' of some$20,000

Yes, that's standard practice when offering $4.50 for shares worth $0.00001.