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Gold/Mining/Energy : Certicom Corporation (TSE:CIC, NASD:CERT)
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To: Ron Nairn who wrote (3022)3/5/2000 6:52:00 PM
From: Montana Wildhack  Read Replies (1) of 4913
 
Rondo,

With 11.9 million shares outstanding to a projected
14 million after the secondary offering, a 2 for 1
split doesn't add sufficient liquidity and would keep
the current relatively high cost / low volume in
place in my opinion.

Thinking in US dollars, I would think a reasonable
post split guess would be $80 US and that Certicom
purposefully wants that split to occur inside the US
under US press coverage as a NASDAQ stock.

Using Tom's estimates of $225 US after a few days,
that could translate into a 3 to 1 split minimum
and I would guess the timing is - if another good quarter
is coming - when they announce those results.

If trading experience is similar after the split that
would raise liquidity to 375,000 shares a day from
the current 125,000 average over the last 6 months.

There is little doubt though, that when it lists, the float
will again shrink due to further institutional holding.

My 2 cents is a 3 to 1 split announced last week May
first week June.

Wolf

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