Can anyone tell me explain the news for MGC? It went down to 20c I was…

Can anyone tell me explain the news for MGC? It went down to 20c I was so shocked. But apparently I get it paid back??? Sorry I have no idea about this. Can anyone explain this a more simplified way?

Ariel Nelson: Can you explain you post a bit more?

Jesse Webb: Post the news and Ill give it a look.

Allison Pratt::

Allison Pratt: I have no idea what this means sorry I should of studied more into stock market before investing.

Allison Pratt: Im in full panic mode right now lost around $1000 in my portfolio (might not be a lot of money for others but Im only 19 this is my fast food job money)

Nina Duncan: if your worried about losing 1k your in the wrong game mate

Nina Duncan: sorry to be blunt but this is a risky game we play the rewards can be great the losses can be bad if not managed well , stop losses and strict trading strategies , maybe paper trade for a while until you get more confident

Allison Pratt: So I have lost it all? Can u explain what the announcement means in simplified terms?

Nina Duncan: sorry havent read it mate someone will help you

Spencer Hunt: William, You gotta be prepared to lose it all and not give a shit. When you understand the risks involved, can set aside emotion and adhere to your strategies, thats when youll stop worrying about losing money…. because youll be making a lot of it lol.

Jesse Webb: MG have completely sold. Full asset sale

Ariel Nelson: I think you have the wrong code?

Allison Pratt: But theres a payment date what does that mean

Jesse Webb: You need to read the letter sent to all shareholders it is explained in much more simple terms.

Jesse Webb: You can also read the more detailed documents that they link to in that letter regarding the changes.

Allison Pratt: will do in a sec. so that payment date is irrelevant to me? Aka Ive lost 75% of my money?

Allison Pratt: wait so I get 80c per share back?

Ariel Howell: What do you mean it went down? It went up 20c. Its being taken over at 80c.

Allison Pratt: do u know if i still get the return of 80c per share if i sold before the record date?

Ariel Howell: You sold before the record date so definitely not. So thats your question from 80c down 20c. You should have held and read the announcement properly

Allison Pratt: Ariel Howell: but i read articles online as long u sell on or after the ex-dividend date u sitll get the return?

Ariel Howell: That is true. I held tls until the record date and sold after but still got dividends. But reading the announcement the record date is today so your name wont be on it and imo you wont get paid.

Allison Pratt: Ariel Howell:
When am I eligible to receive a dividend?

Allison Pratt: if you wish to purchase shares just to receive the dividend and then sell them again, you need to purchase the stock during the cum-dividend trading period (no later than the 20th in this example) and you may then sell them any time on or after the ex-dividend date (21st onwards).

Ariel Howell: Its up to you if you think youre getting paid.

Allison Pratt: well commsec is legit and they said as long u sell on or after the ex dividend date

Allison Pratt: i dont think i should be stressed anymore now

Dawson Lewis: Laura McPike