They have about 1 billion shares on issue by the looks of it. So 1:3 would bring them down to about 330 million. If they do this at 15c, then new SP would be about 45c.
The options expire May 2009. Not sure that they would wait until June 2009 to reconstruct? Or are there other Options listed that I have not seen? Would certainly expect the SP to be above 15c by June 2009 but would be surprised if ittakes that long. Maybe I'm missing somethimg here?
RCH
richfield group limited
action, page-7
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