For every 10 shares that were held, you now have 1 share after consolidation. As far as value, the market cap remained the same, just the amount of shares were changed.
10 shares at $0.006 became 1 share at 6.0c so held values remained the same, just cleaned up the register with less shares on issue.
This is generally how all consolidation works.
Cheers,
Disco.
Indago Energy (PYM), page-16
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