Should price drop dramatically before then, it would be good buying at those levels. Will it? I have no way of knowing.
If the price does that, i.e. drops dramatically - then a consolidation would be foolish.
If the price stays around 15c there will be one no doubt - and why?
Because foolish investors believe a company share valued at 75 cents is worth more than a company share valued at 15 cents - even though their holdings have dropped by five times - just human nature!
These consolidations should be put to the shareholders well ahead of an AGM - not just suddenly announced and forced down our throats on the day in a last minute voting excercise at a meeting most of us can't get to. Proxies - yes - but how many shareholders bother!!
I suggest we stop being complacent and "she'll be right" - and have a good hard look at what WE want!!
I have long thought that ASIC should have a good look at the rules and regulations pertaining to these sudden share consolidations!!
MPO Price at posting:
0.0¢ Sentiment: None Disclosure: Held
