DRE General discussion topics, page-907

Apologies if this has been posted before, but if so, I had not seen it so thought It was worth putting up here for anyone who might be interested.


From the dreadnought website, a question and reply regarding the topic of the number of shares on issue and the chance of a consolidation. Its a question that has always been on my mind as more shares got issued, but have never seen it addressed till now.. You guys have probably all seen it but for the benefit of any others that may have this same question, im reposting it here.


------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Really want to buy more shares, but scared you will consolidate since so many shares on issue.

90% of the time this has turned out badly for me in other companies.

Are you consolidating before you go into production, 2025\26

Thankyou Rob.

08:53AM 25/02/2025

Hi Rob,

I personally have been wanting to consolidate since we started in 2019 with 1 billion shares on issue. We now have 4 billion and several people have asked the question which is justified. Had we gone from 10 million to 40 million, or even 100 million to 400 million shares on issue, it would not attract as much attention. But this is where we are.

One of the main reasons we have not consolidated, is for the reason you mention, they can perform badly and be very value destructive. If we were to consolidate, we would want it to be from a position of significant strength and momentum, or from share buy backs, so as to help prevent the fall back in share price.

I can say that the board is not currently planning a consolidation and secondly, that any consolidation would require shareholder approval.

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------