Ann: Notice of Annual General Meeting/Proxy Form, page-7

Re resolution 5: a consolidation for the sake of consolidating and without new and significant news to accompany it is the most elementary of errors. You will soon have 95 per cent less shares and it wont take long for a company like this to be managed right back to as low as it can go. Just IMO but I've seen this before and I wouldnt give this management team the opportunity to drop share price by up to 95 per cent when from here it can only drop another 50% (short of a winding up, which seems more and more inevitable to me).