story todays smh p42, page-2

Im not sure we can just assume the price is going to double from $1 to $2 under the consolidated of shares

Im not all that in the knowledge in regards to whats gonig on, but I would of thought if they wish to consolidate shares, taking half the amount off the table, they either need to do a buyback (which at the cost now of around $180m to get half of the market capitalisation back at $1 isnt going to happen) or just take them back and then reissue the shares at $2?

then its up to the market to decide what they value the shares at??

Could this possibly hurt long term holders in the hip pocket? not to mention the CGT consequences..