I guess thats the difference between consolidating and not, they aren't selling for half price, what wriggle room do they have at 0.002? Raise at 0.001? or consolidate and raise at 0.017? Makes sense to me.
Lets face it, the old managers/board of NTL spent our money on bugger all and there is none left, they need more and this is the best way to raise it.
Ann: Proposed issue of securities - NTL, page-4
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