should edt consolidate?

I notice that CQO (formerly MOF) has consolidated its shares to convert each 10 shares to a single higher value share. Not sure I agree with all the reasons they gave, but if they are valid wouldn't they also apply to EDT?

I have copied below the CQO reasons given.

Alf


What is the purpose of the unit consolidation?:

Following the placement and unit entitlement offer completed in January 2009 and in addition to the subsequent units issued under the DRP, the number of units on issue for Charter Hall Office REIT increased from approximately 2 billion units to 4.93 billion1. Following consolidation, the number of units on issue will decrease to approximately 493 million, which will result in the following benefits for unitholders.

Firstly, we believe it will reduce volatility in the unit price. A one cent movement in the unit price currently represents a 4% unit price movement. Post consolidation a one cent movement will represent a movement of 0.4%.

Secondly, it should improve appeal to investors by increasing the pricing efficiency of the units and may also overcome mandate restrictions faced by certain institutional investors covering stocks with unit prices below $1.

Thirdly, the consolidation will better align the number of units on issue with Charter Hall Office REITs peers in the Real Estate Investment Trust sector.