Clearly states what the number of shares will be after consul
Effect of Resolution 3 to Shareholders
As at the date of the Notice, the Company has 3,472,032,756 Shares on issue. The Consolidation proposed by Resolution 3 will have the effect of reducing the number of Shares on issue to approximately 115,734,425 Shares. Individual holdings will be reduced in accordance with the Consolidation ratio.
As the Consolidation applies equally to all members (subject only to the rounding of fractions), it will have no material effect on the percentage interest of each member in the Company. Further, the aggregate value of each member’s proportional interest in the Company will not materially change solely as a result of the Consolidation as the only anticipated changes, which will be a result of rounding, will be immaterial.
Theoretically, the market price of each share following the Consolidation should increase by 30 times its current value.
Practically, the actual effect on the market price of each share will be dependent upon on a number of factors which will not be within the control of the Company.
The BOD have clearly stated and therefore have identified
"that there is a number of factors "
The BOD should state what these factors are prior to any vote on the consolidation ,
as in their own words
this may result in the market price of each share following Consolidation being higher or lower than the theoretical post-Consolidation price.
As with my previous post, it would seem that they are pre disposed to a share price of $0.024 ,
What are the reasons for them having this predisposition?
There is, or must be relevant information that they are aware of, and it is obviously price sensitive, that should be made available to the market.
SYT Price at posting:
0.2¢ Sentiment: None Disclosure: Held
