why, page-20

F&B, I think Jars means the diff between a share consolidation and a share buy-back.

Jars,

Simply, consolidation is when Coy reduces number of issued shares and, in 1:10 instance, if you had 1M FML shares, you would have 100K after consolidation. FML would have 280M shares in total, down from 2.8 Billion. (doesn't change the % that you hold)

Buy back is when coy reduces shares by buying them back with cash and removing them from market. (does change the % you hold - it goes up - but Coy has to use cash to do it.)

Theoretically, there is no beneficail change to your holding (in the ST). What the mkt says is another story.