Agenda for the upcoming AGM includes consolidation of shares:
'The Board considers that the Company currently has a disproportionately high number of shares on issue compared to its market capitalisation and believes that consolidating the Company's share capital at a ratio of 1 new share for every 20 shares on issue will create a capital structure that is more appropriate for a listed entity of the Company's size and will reduce the current extreme volatility in the Company�s value.'
Here I was thinking, great, at least at 0.2 cents there's (almost) really only one way it could go.
Now 1 share for every 20. There's a lot of territory south of 4 cents...
Interesting.
MDV Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held