Why is GXY consolidating, page-65

You're all over it Nooch.

Have a look at this thread re: AGM, and comments by management extracted by members who attended.

https://hotcopper.com.au/threads/ann-results-of-meeting.3435543/page-2#.WSjWd2h96M8

@1912
7. Any of Hong Kong, London or New York exchanges would be considered - a decision unlikely for at least 6 months
..
9. Consolidation of our shares was necessary to :-
(a) encourage institutions to our register many of whom are prohibited from acquiring shares valued at less than a certain dollar figure
(b) tighten the register
(c) reduce the activity of shorter's and day traders