Why is the market ignoring EGO?, page-68

Shonks in an announcement via EGO's PR company Read Corporate regarding Q&A in the main regarding the buying of ERM's assets in the Perth Basin, there was a question will there be a consolidation
Answer the board will in the next year consider a consolidation.
Not too long thereafter and I have not yet found the exact date the board announced there will be a consolidation shares before or at the next AGM.

The market therefore had advance knowledge that a consolidation of shares would be carried out. Many here agreed a consolidation should be carried out but at a time of a rising shareprice. What was not known was the agressive ratio. It was downhill since unfortunately.
As to global factors. Agreed they have affected all oilers to varying degrees but these factors were well and truly discussed in all media as were the forecasts by knowledgeable analysts where the oil price was going.
No excuse for the board. The risks were there to plainly see as was risk in the timing.
They just went ahead like bull at a gate and busted the shareprice.